Yesterday started in Las Cruces April 2, 2022 Midnight opening of the first recreational marijuana sales in New Mexico at R. Greenleaf in Las Cruces. pic.twitter.com/amZYufm4dN — Texas Cannabis Collective (@txcannaco) April 1, 2022 Related
4 thoughts on “Yesterday started in Las Cruces”
New Hampshire looks to sell pot in state liquor stores, make millions. Marijuana growers fuming. https://www.seacoastonline.com/story/news/local/2022/04/02/new-hampshire-bill-recreational-marijuana-sales-state-liquor-stores/7244063001/
“Cannabis producers in New Mexico have their collective eyes on daily sales numbers to determine what sort of demand there will be moving forward a week after recreational-use sales started.
The New Mexico Cannabis Control Division reported more than $5.2 million in combined medical and recreational-use cannabis sales and more than 87,000 transactions in the first three days. The division is expected to release more numbers Friday morning.
In addition to the hype of first-time adult-use sales, the state’s cannabis industry will likely face a spike in sales on April 20, or 4/20, which is usually the biggest day of the year for cannabis sales.” https://nmpoliticalreport.com/2022/04/08/conflicting-views-on-when-or-if-nm-is-headed-for-a-medical-cannabis-shortage/?mc_cid=c7245b3594&mc_eid=4b85ca587f
7AM MDT, tomorrow morning, 9th
Businesses sold $6.1 million worth of recreational cannabis sales in the first week of legalized sales. When combined with medical cannabis sales, retailers generated nearly $10 million in sales. Those numbers are from the Cannabis Control Division (CCD). They’ve been tracking sales since the opening day.
“New Mexicans supported cannabis businesses in record numbers this week,” CCD Director Kristen Thomson said in a news release. “Through careful regulatory planning hand-in-hand with industry, New Mexico cannabis producers have done something that’s never been done before. This week is something we can all be proud of.” https://www.krqe.com/news/marijuana/new-mexicos-earnings-from-one-week-of-cannabis-sales/
Eventually, the CCD expects the industry to earn around $300 million in sales per year, according to their news release. That would be a statewide average of over $800,000 in sales per day.
The sales, translate to tax revenue for state and local coffers. Currently, cannabis sales are subject to a 12% excise tax, according to the Taxation and Revenue Department.
So, the $6.1 million in sales over the first week translate to more than $700,000 in excise tax revenue. Of that, two-thirds go to the state and one-third goes to local government, according to University of New Mexico finance professor Reilly White.