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A year after the growth of the Massachusetts cannabis market

Industry News Dino H Carter

In November 2018, Massachusetts went legal for adult use. At the time, there were two dispensaries, and the people of Massachusetts spent $440,000 on weed. Now, exactly a year after, The Cannabis Control Commission reported that customers spent a total of $393.7 million on marijuana products!! The number of dispensaries grew to 33 in just a year!
CCC Chairman Steve Hoffman said in a statement “Hundreds of millions of dollars in sales are one measure of success, but I am even prouder of the way in which Marijuana Establishments have worked with the Commission to gain and preserve compliance with our regulations and patrons continue to inform themselves about the law and their responsibilities when they visit Massachusetts stores.”

The state of Massachusetts imposes 17% tax on marijuana sales, which means the state hit it big time from tax revenues this year: $67 Million in additional tax revenues, and that's with less than 50 dispensaries, most of them opened only recently.

Author Dino H Carter

 

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