In December, marijuana and marijuana products generated $265,504,958.67 in sales in Michigan, according to data from the state’s Cannabis Regulatory Agency (CRA).
Recreational marijuana accounted for the overwhelming majority of sales, totaling $264,689,198.93, while medical marijuana brought in $815,759.74. These figures bring the state’s year-to-date total to approximately $3.1 billion.
The all-time total for recreational sales has now reached $10,218,680,807.17, reflecting the continued growth of Michigan’s legal marijuana market. The average price for an ounce of recreational marijuana hit a new low of $69.20 in December.
When you combine all-time recreational sales with all-time medical sales, the total is now $11,838,780,568.67.
Michigan currently has 848 licensed marijuana stores and 2,256 active marijuana business licenses, underscoring the industry’s significant presence across the state.
Michigan voters approved marijuana legalization in 2018, with the first licensed retail outlets opening the following year. Adults aged 21 and older may legally possess up to 2.5 ounces of marijuana and 15 grams of marijuana concentrate. Recreational marijuana is subject to a 10% excise tax, in addition to the state’s 6% sales tax.
The state allocates marijuana tax revenue as follows: 15% 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 support substance abuse treatment and law enforcement training programs.
More articles from The Marijuana Herald can be found below.
