Maine marijuana revenue reached a file high in August, with nearly $22 million well worth of purchases, according to new info from the condition Business office of Cannabis Policy (OCP).
This summer months has seen numerous states hitting hashish revenue highs, and Maine is no exception. August was the fourth month in a row of history-breaking adult-use buys for the state.
The $21.6 million in product sales final thirty day period came from 377,050 person cannabis transactions. Maine’s yr-to-date in cannabis profits for 2023 is $140.1 million, this means the point out is properly on observe to conquer its 2022 total of $159 million.
Most of August’s purchases consisted of flower, adopted by concentrates and edibles. The normal value per gram of flower last month was $7.83.
The condition’s cannabis industry also stands to get some tax reduction below a monthly bill signed by Gov. Janet Mills (D) last month, enabling hashish organizations to just take state tax deductions as a partial workaround to the Inner Profits Service (IRS) code known as 280E that prohibits this kind of deductions at the federal level.
The legislature has also passed a variety of other cannabis reform proposals this session, which include expenses championed by a GOP freshman lawmaker, who formerly labored as a cannabis activist, to secure gun legal rights for hashish shoppers and increase the amount of crops that grown ups can increase for individual use.
Maine is considerably from the only point out the place marijuana sales are breaking data this yr.
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For case in point, Massachusetts stores have now bought extra than $5 billion in grownup-use marijuana considering the fact that the state’s recreational industry released five years back, the point out reported previous week. Gross sales arrived at $139.3 million in August by yourself, with the year-to-date total at $1.05 billion inside of the initial eight months of 2023.
In Maryland, officers not long ago introduced that the the condition broke anther marijuana income history previous month, with just about $92 million worth of hashish solutions offered during the state’s 2nd thirty day period of authorized adult-use revenue.
Michigan cannabis sales arrived at however one more file large in July, with just about $277 million well worth of hashish bought.
Three other Northeastern states beside Maine—Connecticut, Massachusetts and Rhode Island—also each hit new documents for cannabis purchases in July.
Illinois stores sold $140 million value of leisure cannabis products and solutions in July—the strongest revenue of the calendar year and second highest every month total for the state given that the adult-use industry released in 2020.
Missouri merchants have been promoting about $4 million value of marijuana per working day on normal considering the fact that the state’s grownup-use industry opened up in February—and the state noticed a report $121.2 million in cannabis purchases in June.
Picture courtesy of WeedPornDaily.
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