2021 was the first year that recreational cannabis was legal in the state of Arizona, and it propelled the market to record sales topping out at $1.4B.
According to the Arizona Department of Revenue (DOR), the recreational market brought in nearly $650M, despite sales beginning on January 22. Arizona’s well-established medical market, which has built up over a decade, raked in $758M in sales in 2021.
At the close of 2021, recreational sales contributed more than $104M in excise tax. Sales taxes brought in another $50M in tax revenue. Including the $63.5M in medical marijuana sales taxes, cannabis sales in Arizona added about $217.5M to state coffers in 2021.
Read full article on CannabisStockTrades
