There was just over $345 million worth of marijuana and marijuana products sold legally in October.
Marijuana sales in California saw a slight uptick from September to October, rising from $334 million to $345.5 million. However, sales in October were down from the $356 million sold in October 2023.
There has now been around $3.5 million in marijuana sold throughout 2024, putting the state on track to end the year with over $4 billion in total marijuana sales, resulting in around $800 million in tax revenue.
Sales data includes the legal distribution of dried marijuana flower, as well as a variety of marijuana products such as concentrates, edibles, tinctures, and topicals.
In October, marijuana flower accounted for the largest share of sales at $110 million, followed by vape products at $99 million, pre-rolls at $61 million, edibles at $37 million, concentrates at $19 million, and other products (such as beverages and capsules) at around $17 million.
California legalized marijuana in 2016, with the first marijuana store opening in 2018. Under California’s law, those 21 and older can legally buy, possess, use up to an ounce of marijuana.
The state’s recreational marijuana tax structure includes a 15% excise tax on cannabis sales and a state sales tax ranging from 7.25% to 10.75%.
More articles from The Marijuana Herald can be found below.
