PHOENIX — Saturday will mark one year since recreational marijuana sales were legalized in Arizona, bringing in more than $1 billion in total revenue.
Arizona’s Department of Revenue announced the total gross cannabis sales reached more than $1.2 billion, not including December’s final reports, surpassing initial projections.
It also far surpassed the first-year sales of other states that have legalized recreational marijuana. For example, revenue from Colorado was $292 million, Oregon had nearly $345 million, Washington at more than $185 million, and Nevada at nearly $425 million.
Tax revenue from recreational cannabis sales brought in more than $190 million in tax revenue.
Of that year’s worth of tax revenue:
- $7.3 million is Education Sales Tax
- $92.9 million is Marijuana Excise Tax, which funds community colleges, county health departments and more
Original Author Link click here to read complete story..
PHOENIX — Saturday will mark one year since recreational marijuana sales were legalized in Arizona, bringing in more than $1 billion in total revenue.
Arizona’s Department of Revenue announced the total gross cannabis sales reached more than $1.2 billion, not including December’s final reports, surpassing initial projections.
It also far surpassed the first-year sales of other states that have legalized recreational marijuana. For example, revenue from Colorado was $292 million, Oregon had nearly $345 million, Washington at more than $185 million, and Nevada at nearly $425 million.
Tax revenue from recreational cannabis sales brought in more than $190 million in tax revenue.
Of that year’s worth of tax revenue:
- $7.3 million is Education Sales Tax
- $92.9 million is Marijuana Excise Tax, which funds community colleges, county health departments and more
