In Michigan, the state’s legal marijuana market brought in over $275 million in sales in November.
In November, marijuana and marijuana products generated $276,363,269 in sales, according to data from the Michigan Cannabis Regulatory Agency (CRA). Recreational marijuana made up the vast majority of sales, while medical marijuana contributed $884,669.59. These figures mark an increase from October’s $270 million, and they bring the year-to-date total for the state to around $2.8 billion.
The all-time total for recreational sales has now reached $9,952,493,286.39, while medical marijuana sales have hit $1,620,782,323.81, combining for a total of $11,573,275,610.
The average price for an ounce of recreational marijuana was $71.80 in November, while medical marijuana averaged $91.77 per ounce. Michigan currently has 843 licensed marijuana stores and 2,273 total active marijuana business licenses, according to the CRA.
Michigan voters legalized marijuana in 2018, and the first licensed retail outlet opened the following year. The law allows individuals 21 and older to possess up to 2.5 ounces of marijuana and up to 15 grams of marijuana concentrates. Recreational marijuana is subject to a 10% excise tax, in addition to the state’s 6% sales tax.
Michigan allocates its marijuana tax revenue as follows: 15% goes to local governments with marijuana businesses, 15% to counties and municipalities, 35% to the School Aid Fund, and 35% to the Michigan Transportation Fund. Remaining funds are directed to state programs for substance abuse treatment and law enforcement training.
