Doug Ducey, the state Department of Health Services and Don Herrington, the director of the Department of Health Services. According to figures released by the state Department of Revenue, medical and recreational cannabis sales combined to generate more than $1.23 billion in revenue last year. “Rarely does an industry produce over $1.2 billion in revenue in its first year. It was also the only month of the year in which recreational sales topped $60 million. The Department of Revenue provided a detailed breakdown of the sales data, revealing that recreational adult-use pot brought in $528,001,278 in revenue, while medical cannabis generated $703,803,194. According to the Arizona Department of Revenue, “there is a transaction privilege tax (TPT) rate and an excise tax (16 percent) on the retail sales” of adult use recreational cannabis in the state.
Cannabis is officially a billion dollar business in the state of Arizona.
Voters in the Grand Canyon State passed a measure at the ballot in 2020 that made recreational pot legal for adults ages 21 and older. Medical cannabis, meanwhile, has been legal in the state since 2010.
That made 2021 the first year with both markets open for business, and the results were lucrative for Arizona.
According to figures released by the state Department of Revenue, medical and recreational cannabis sales combined to generate more than $1.23 billion in revenue...
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