BOSTON (AP) – Recreational marijuana shops in Massachusetts raked in more than $420 million in sales in the first full calendar year of legalization, according to new state data.
The data released this week by the state’s Cannabis Control Commission shows marijuana sales in December alone had topped $10.7 million even before Christmas.
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The data will be updated to show the full 2019 calendar year sometime in January.
Massachusetts imposes roughly 17% to 20% in taxes on marijuana, including a 6.25% sales tax, a 10.75% excise tax and an optional local tax of up to 3%.
Massachusetts became the first East Coast state with regulated recreational marijuana stores when two opened on Nov. 20, 2018.
The cannabis commission has previously reported that pot shops generated $394 million in gross sales from Nov. 20, 2018 to Nov. 20, 2019.
More than 30 marijuana retailers have been licensed to operate in the state, along with dozens of other businesses approved to cultivate, manufacture and test marijuana products.
(Distributed by The Associated Press.)
