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Home»Business & Industry»Cannabis Sales In Montana Exceeding Initial Projections
Business & Industry

Cannabis Sales In Montana Exceeding Initial Projections

April 13, 2022No Comments2 Mins Read
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Cannabis Sales In Montana Exceeding Initial Projections
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Hashish gross sales in Montana by the primary quarter of the yr have reached $72.9 million, in keeping with state Division of Income figures outlined by the Related Press. The whole consists of each medical and adult-use hashish gross sales, however adult-use gross sales signify the majority of the overall at greater than $43.5 million.

The state noticed a brand new adult-use gross sales file final month with $15.9 million; medical hashish gross sales had been $9.8 million.

The Montana price range workplace had predicted $130 million in hashish gross sales this yr, however the state is on observe to achieve $174 million in gross sales and may even see as a lot as $200 million.

J.D. “Pepper” Petersen, president and CEO of the Montana Hashish Guild informed the Montana State News Bureau that Montana has seen “an incredible variety of out-of-state prospects coming into the dispensaries,” which he mentioned was “simply going to develop and develop.”

“This isn’t individuals rising weed of their shed anymore, that is massive enterprise.” – Petersen to the Information Bureau

Yellowstone County has the best gross sales figures for mixed adult-use hashish and medical gross sales, accounting for $4.5 million of the $25.7 million whole in statewide gross sales in March, or about 18%, the report says.

Montana imposes a 20% tax on adult-use gross sales and a 4% tax on medical hashish gross sales, so the state may see greater than $50 million yearly from cannabis-derived revenues.

Montana voters accepted an adult-use initiative in 2020 to legalize the possession of as much as an oz. of hashish flower and the house cultivation of as much as 4 crops for adults aged 21 or older. That initiative took impact on January 1, 2021. The state’s Republican-controlled Legislature later accepted guidelines for the plant’s industrial distribution, which had been signed into legislation by Gov. Greg Gianforte (R) final Could, and this system launched on January 1, 2022.

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