Arizona’s marijuana market trended downward in Might, in accordance with the most recent numbers launched by the Arizona Division of Income, as adult-use, leisure gross sales dipped to $82.9 million, whereas medical hashish gross sales dropped to only $28.3 million, the bottom since leisure gross sales started in January 2021.
Medical gross sales have declined constantly since reaching a peak of $73.3 million in April 2021. By July of that 12 months, medical hashish gross sales dropped under $40 million for the primary time. The market has by no means recovered.
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Since September 2022, medical gross sales have hovered round $30 million.
The leisure market has practically tripled these figures for a number of months in 2023, and the pattern has continued by means of the latest report.
Leisure gross sales had been initially estimated at greater than $100 million in March, however ADOR revised that complete down by about $1 million in Might. At the identical time, it elevated estimated gross sales in April from $86.5 million to $90.1 million.
Might’s complete was the bottom since September 2022, when ADOR reported gross sales at $80.9 million.
Since leisure gross sales started 29 months in the past, the medical market has offered $1.4 billion in product, whereas the leisure facet has surpassed $2 billion in gross sales. The Sensible and Secure Arizona Act, which voters authorized in 2020, legalized marijuana possession and use for adults over the age of 18.
The first time mixed medical and leisure gross sales hit the $100 million mark was in March 2021, when medical gross sales had been barely greater than $73 million and leisure hit $59 million.
Since then, total hashish gross sales have topped $100 million each month.
The final time leisure and medical gross sales had been wherever close to equal was October 2021, when adult-use gross sales had been $65.8 million and medical gross sales had been $64.4 million.
Taxes collected on leisure gross sales in Might had been $13.3 million and the full for each applications was $15.6 million.
The state collects a 16% excise tax on leisure gross sales along with the usual gross sales tax; medical sufferers pay roughly 6% in state gross sales tax. Native jurisdictions cost an extra 2% or so for all marijuana gross sales.
The excise tax on adult-use marijuana gross sales has yielded about $182.3 million thus far in 2023. In 2021, leisure hashish generated $32.9 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 $348 million in marijuana excise taxes.
One-third of these taxes are devoted to neighborhood faculty and provisional neighborhood faculty districts; 31% to public security, together with police, fireplace departments, fireplace districts and first responders; 25% to the Arizona Freeway Person Income Fund; and 10% to the justice reinvestment fund, which is devoted to offering public well being providers, counseling, job coaching and different social providers for communities which were adversely affected and disproportionately impacted by marijuana arrests and criminalization.
The Arizona Division of Well being Providers studies that, as of July, there have been 126,938 qualifying affected person cardholders, down from 127,288 in Might and fewer than half of the 299,054 qualifying sufferers reported in January 2021 at first of leisure gross sales.
Via July, Arizona medical hashish customers have bought 4,620.7 kilos of marijuana in varied varieties. The complete for June was 4,761.85 lbs.
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