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Home»Business & Industry»Montana’s First-Month Cannabis Sales Total $22.6M
Business & Industry

Montana’s First-Month Cannabis Sales Total $22.6M

March 28, 2022No Comments2 Mins Read
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Montana's First-Month Cannabis Sales Total $22.6M
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After launching its adult-use hashish market on January 1, Montana closed out the month with $22.6 million in complete hashish gross sales, together with almost $12.9 million in leisure gross sales, based on Division of Income knowledge outlined by KULR-8. Medical hashish gross sales within the state totaled almost $9.8 million throughout the identical timeframe.

With a 20% tax price for adult-use merchandise and a 4% tax on medical merchandise, hashish gross sales all through the month generated a mixed $2.9 million in taxes for the state.

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 have been signed into regulation by Gov. Greg Gianforte (R) final Might, and this system launched on January 1, 2022. Beneath the principles, solely medical hashish firms may be licensed for adult-use operations for the primary 18 months. Moreover, adult-use gross sales is not going to be out there in counties the place voters initially rejected the reforms — as an alternative, localities should choose into the business via native elections.

Montana’s hashish legalization language additionally included a clause for individuals with cannabis-related prison convictions to get them stripped from their report however the courts have reported comparatively low curiosity within the expungement potentialities.

 

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226M cannabis FirstMonth Montanas Sales Total
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