Since January 2021, when leisure gross sales started, the hashish business has generated greater than $4 billion, with about $2.5 billion coming from leisure gross sales.
By David Abbott, Arizona Mirror
Hashish gross sales in Arizona handed the $1 billion mark for the 12 months in September, because the medical and leisure markets continued a well-known sample that seems to have solidified over the previous a number of months.
Knowledge from the Arizona Division of Income (ADOR) for August and September experiences that medical gross sales stay about one-third that of adult-use leisure, a development that has continued all year long—and led to the bottom medical use gross sales determine ever.
Medical gross sales in September have been barely lower than $27 million, a dip from August’s $28.7 million in gross sales. The newest whole represents the bottom in medical gross sales since competitors with the leisure program started in January 2021, after ADOR adjusted the earlier low of $26.1 million in July as much as $27.3 million.
The final time medical gross sales have been above $30 million was in June, and since June 2022, the medical market has not surpassed $40 million. Medical gross sales have declined persistently since a peak of $73.4 million in April 2021.
Leisure gross sales have been greater than $80 million since dipping under $90 million in Could, following a market report of $100 million in March. ADOR experiences that leisure gross sales have been $85.8 million in August and barely above $80 million in September.
For the reason that first time the leisure market handed the $80 million threshold in March 2022, it has solely failed to succeed in that mark twice: as soon as in Could 2022 at $79.3 million and June 2022 at $77.2 million.
These numbers might change, although, as ADOR typically adjusts latest months’ numbers with every new report. As an illustration, ADOR initially reported that medical gross sales in July have been $26.1 million, however the newest launch elevated that whole to $27.3 million, whereas leisure gross sales in July have been beforehand estimated to be $77.4 million, however now are pegged at $80.5 million.
To this point in 2023, medical hashish gross sales general totaled $267 million and Arizonans have purchased almost $797 million in leisure marijuana, for a complete year-to-date of virtually $1.1 billion by September. Since January 2021, when leisure gross sales started, the hashish business has generated greater than $4 billion, with about $2.5 billion coming from leisure gross sales.
The final time leisure and medical gross sales have been anyplace close to equal was October 2021, when adult-use gross sales have been $65.8 million and medical gross sales have been $64.4 million. That was the primary month that leisure gross sales outpaced medical gross sales.
The state has collected $2.4 million and $2.2 million in taxes from medical gross sales in August and September, respectively, and $13.7 million and $12.8 million from leisure gross sales.
The state collects a 16 p.c excise tax on leisure gross sales along with the usual gross sales tax; medical sufferers pay roughly 6 p.c in state gross sales tax. Native jurisdictions cost a further 2 p.c or so for all marijuana gross sales.
The excise tax on adult-use marijuana gross sales has yielded about $174.5 million to date in 2023. In 2021, leisure hashish generated $32.9 million for eleven months of gross sales, and in 2022 that quantity jumped to $132.8 million. For the reason that program launched, the state has collected greater than $391 million in marijuana excise taxes.
One-third of these taxes are devoted to group faculty and provisional group faculty districts; 31 p.c to public security, together with police, hearth departments, hearth districts and first responders; 25 p.c to the Arizona Freeway Person Income Fund; and 10 p.c to the justice reinvestment fund, which is devoted to offering public well being providers, counseling, job coaching and different social providers for communities which have been adversely affected and disproportionately impacted by marijuana arrests and criminalization.
The Arizona Division of Well being Providers experiences on medical hashish program participation month-to-month and is usually two to 3 months forward of ADOR.
As of October, there have been 121,047 qualifying affected person cardholders, down from 123,796 in September. On the top of the medical market, there have been 299,054 qualifying in January 2021 earlier than the appearance of leisure gross sales.
In October, Arizona medical hashish customers bought 4,474.75 kilos of marijuana in numerous varieties, down from 4,621,28 reported in September. The 12 months thus far whole by October, was 47,075.6 kilos.