It has been a remarkably smooth and successful ride for Michigan’s cannabis industry, and regulators hope to keep it that way as the growing network of suppliers and sellers face an inevitable period of consolidation and stubborn competition from old-school street dealers who do not share their overhead and red-tape burdens. The state Marijuana Regulatory Authority (MRA) said average monthly revenue from medical and recreational sales grew more than 50 percent in 2021, reaching $168 million for just the month of December, including a record $135 million in recreational sales. July was the most lucrative month with sales of $171 million. Recreational sales increased 16 percent in the second half of 2021 while medical sales were down some 23 percent compared to the same period in 2020. The 10 percent state excise tax on recreational sales has proven to be a nice payoff for a state that has not had a lot of economic victories for the past few decades. But the excise tax is just one component of the overhead that adds to the price of store-bought weed supplies.

420 Intel – Marijuana Industry News, 02/06/2022 19:00:00

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