Grownup-use hashish gross sales in Arizona set a brand new file in November, topping $60 million for the primary time, because the state Division of Income reported $1.23 billion in each medical and adult-use gross sales by way of the primary 11 months of 2021, AZ Mirror reviews. In November, medical hashish gross sales reached $60,299,191, practically matching the $60,365,545 in adult-use gross sales.
The state imposes a 16% excise tax on adult-use gross sales along with the state’s customary 5.6% gross sales tax. Medical hashish sufferers pay a 6% excise tax and localities can cost a further 2% for all hashish gross sales.
In all, Arizona collected $5,055,950 in taxes from adult-use hashish gross sales, with medical cannabis-derived tax revenues barely decrease at $5,026,317. The excise tax reached $10,110,032 for a complete of $20,192,299 in mixed tax revenues from November hashish gross sales.
For the primary 11 months of 2021, the state collected $196,447,570 in hashish tax revenues – $58,916,172 in medical hashish taxes, $44,533,436 in adult-use taxes, and $92,997,962 in excise taxes. In 2020, the primary yr of adult-use gross sales, the state had raised $106 million.
The state’s hashish legalization legislation dedicates 33% of adult-use tax revenues for neighborhood school and provisional neighborhood school districts; 31% to public security; 25% to the Arizona Freeway Consumer Income Fund, and 10% to the justice reinvestment fund, which offered public well being companies, counseling, job coaching, and different social companies for communities which were adversely affected by the earlier disproportionate enforcement of hashish criminalization. Final month, the state obtained greater than 1,500 functions for social fairness trade licenses that are anticipated to be awarded within the spring.
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