Marijuana Sales in Massachusetts Hit $4 Billion!
The Cannabis Control Commission reported on Friday that since the first pot shops opened in November 2018, more than $4 billion worth of marijuana items have been sold.
Ava Concepcion, the commissioner of the state’s cannabis program, recently told WBZ-TV, “This industry is rapidly growing, it’s big, and it’s not going anywhere.” We are now the state’s most valuable crop, even more so than cranberries.
In 2016, voters approved legalization of recreational cannabis usage, and the industry quickly followed.
According to statistics compiled by the Cannabis Control Commission, retail sales of marijuana have topped $85 million so far in 2023.
Thestate levies a 10.75% excise tax and a 6.25 % sales tax on all marijuana purchases. Local governments are permitted to levy an additional 3% sales tax.