There was nearly $20 million worth of marijuana and marijuana products sold between December 29 and January 4 in Ohio.
Data released today by the Ohio Division of Cannabis Control (DCC) shows that there was $13,158,129 in recreational marijuana sold during the week that cover New Year’s, in addition to $6,116,501 in medical marijuana sold. The combined $19,274,630 brings the total since the start of recreational marijuana sales on August 7 to $397,777,981.
According to the DCC, there was 57,272 pounds of marijuana sold since August 7, and nearly five million total transactions.
As of January 4, the average price of dried marijuana is $6.85 per gram and $19.39 per 1/10th an ounce. The averaged sales transaction is $27.66.
Ohio’s marijuana law allows adults aged 21 and older to possess up to 2.5 ounces of marijuana and 15 grams of concentrates. For medical marijuana patients, the allowed possession is a 90-day supply, including up to eight ounces of dried marijuana and 26.55 grams of concentrates. Both the medical and recreational marijuana markets are overseen by the Ohio Division of Cannabis Control.
When purchasing recreational marijuana, buyers are subject to a 10% excise tax on the retail price, in addition to the state’s 5.75% sales tax. Local governments may also impose their own sales taxes, typically between 0.25% and 2.25%. Medical marijuana patients only pay the 5.75% state sales tax, with no excise tax applied.
