Michigan experienced a significant increase in marijuana sales in July, reaching over $285 million.
There was $286 million in marijuana sold legally in July, according to data compiled and released by the Michigan Cannabis Regulatory Agency. This marks a significant increase from the $275 million sold last month, as well as the $276 million sold in July 2023.
Since the legalization of recreational marijuana in December 2019, total sales have now reached nearly $9 billion. Medical marijuana sales have added another $1.7 billion, making the combined total well above $10 billion. These sales have resulted in over $1.5 billion in tax revenue.
The average price per ounce of recreational marijuana in June remained nearly the same at $88, compared to $88.50 in June.
The number of licensed marijuana retail outlets continues to grow, with around 850 retailers now operating across Michigan.
Michigan voters legalized marijuana in November 2018, with the first licensed retail outlet open the following year. The law allows those 21 and older to possess up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates. Recreational marijuana receives a 10% excise tax in addition to the state’s 6% sales tax.
Marijuana tax revenue in Michigan is distributed as follows:
- Administration and Enforcement: 15% to local governments with marijuana establishments.
- Schools and Roads: 35% to the School Aid Fund and Michigan Transportation Fund.
- Local Governments: 15% to counties and municipalities with marijuana businesses.
- Other Allocations: Remaining funds to state programs for substance abuse treatment and law enforcement training.
