In the first two months of legal marijuana sales, Maine has generated more than $2.4 million in revenue, a figure that’s only expected to grow as more than 200 retailers await licensure. But high prices and a lack of supply are driving many Maine cannabis consumers back to the streets, where weed remains much cheaper and plentiful. The state stands to lose millions in cannabis revenue in the coming years before the recreational supply here catches up with demand and retail prices finally begin to drop for consumers. Also, Marijuana sold on the black market deprives the state of a 5.5 percent sales tax on medical marijuana and a 10 percent retail tax rate on recreational marijuana in Maine.

Cannabis Business Executive – Cannabis and Marijuana industry news, 12/29/2020 09:33:00

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