18 March 2021

Tax Revenues Retail Sales Buzz: Arizona Adult-Use Cannabis Sales

Here's a report from Monday, March 15 2021
NEWS BRIEF
(Please Note: There is a delay in Arizona’s recreational sales reporting because marijuana taxes are collected a month after transactions occur)

Arizona adult-use cannabis sales hit $2.9 million during initial 10 days

"Adult-use cannabis sales in Arizona reached $2.9 million in the first 10 days that sales were permitted, according to figures released by the state.
Arizona's new recreational cannabis firms see strong sales, possible supply  issues on horizon
Recreational sales in Arizona began Jan. 22 after 73 of 130 licenses were approved by the Arizona Department of Health Services.
Medical cannabis dispensary operators were granted first crack at the new adult-use licenses.
26 additional  "social equity" licenses are still in the pipeline
The Arizona recreational market launched less than three months after voters approved adult-use sales during last November’s general election.A new Arizona adult-use cannabis market may offer limited business  opportunities
 
The state collected $226,355 in tax revenue on the sales.
Marijuana Business Daily projects that Arizona’s recreational market will reach $375 million-$400 million in its first full year of sales and more than $700 million yearly by 2024.
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