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Massachusetts Cannabis Dispensaries Reel in $24 Million in Legal Sales in First Two Months

By January 25, 2019 No Comments
sharon-mccutcheon-653197-unsplashCannabis dispensaries in the state of Massachusetts are now reported to have reeled in close to $24 million in sales.

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Dispensaries in the state have only been allowed to conduct legal cannabis sales for two months. No forecasts for recreational cannabis sales were made by any state officials so it is unclear whether the first retail stores on the East Coast are ahead or behind. Northampton and Leicester are home to the earliest Massachusetts retail stores to open.

The regulatory agency of cannabis in Massachusetts, the Cannabis Control Commission, reported the aggregate gross of $23.8 million in sales. The first 1-8 weeks of recreational sales, beginning on November 20th of 2018, accumulated to an aggregate gross of $20,459,394. Week 9, January 14th through the 20th, added another $3,360,208 for a total of $23,819,602. The amount of units sold on week 9 totaled to 76,606 at an average spent per unit price of $43.86.

Recreational cannabis in Massachusetts is taxed at 17% from the state and at 3% locally for a total tax rate of 20%.

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