The numbers are in and Arizona’s first year with an adult-use market officially shattered expectations in 2021, raking in more than $1.4 billion in sales and more than $215 million in tax revenue for the state. Arizona’s first year of adult-use cannabis revenue surpassed the first year of sales in Colorado (about $292 million), Oregon (almost $354 million), Washington (more than $185 million), and Nevada (nearly $425 million). “Even though we celebrated the one-year anniversary this past January, we had to wait until today to see the official first-year numbers,” Samuel Richard, executive director of the Arizona Dispensaries Association, said in a February press release. “It was worth the wait to see just how big of an investment our industry has been able to make in our communities.” Arizona has a 16% tax on the sale of recreational cannabis products. Legislative projections for the first year predicted $166 million in tax revenue.
Marijuana Venture, 03/31/2022 13:00:00
Open article: https://www.marijuanaventure.com/arizona-market-shatters-expectations/