Since 2021 the state estimates sales for both medical and recreational use at over $3 billion.
In just the last year recreational sales surged to $1.1 billion, a 39% increase from the prior fiscal year. Medical sales meanwhile are estimated at $566 million, a 35% decrease.In late 2021, recreational surpassed medical at the $65 million mark monthly. Since then, monthly estimates for recreational are above $80 million while medical sales have fallen below $30 million.
Since the recreational use law passed in 2020, sales tax collections for marijuana are over half a billion dollars.This fiscal year is not over yet, but ABC15 estimated revenue for the remaining months, calculating that collections should rise to $275 million. A 7% annual increase.Much of that is from luxury tax sales on recreational use, $122 million.Sales taxes also had double-digit increases. The taxes are split between state, city, county, and a levy for education.