Massachusetts adult-use sales closing in on $4 billion

Adult-use cannabis sales in Massachusetts continue to stuff state coffers with cash from tax revenue.

The Massachusetts Cannabis Control Commission reports that through Dec. 18, the state saw $1.42 billion in adult-use cannabis sales for those residents over the age of 21. On the medical cannabis side of the industry, the state saw $260.2 million over the same time period.

With adult-use cannabis sales taxed at 6.25%, Massachusetts saw $88.75 million in tax revenue generated through Dec. 18. Another $152.65 million was generated from the state’s 10.75% excise tax. Plus, potentially up to $42.6 million could have been generated through 3% local use option taxes.

Medical cannabis sales are not taxed in Massachusetts, provided the patient uses their card at the time of purchase. Since adult-use and medical cannabis sales began on Nov. 5, 2018, Massachusetts has witnessed a grand total of $3.9 billion in sales through Dec. 18. Medical cannabis sales in the state reached $962.3 million over the same time period.

Read more at thecentersquare.com


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