Michigan began recreational marijuana sales on December 1st and the first two weeks have been amazing.
The state has seen sales top $3 billion in the first fourteen days of December.
According to Marijuana Regulatory Agency reports, the few licensed and actively selling retail locations have amassed $3.1 million in sales.
In the first week the state’s licensed recreational marijuana stores had seen $1.6 million in sales. Between December 9th and December 15th, the total at five recreational stores was $1.4 million in purchases.
So far Michigan has generated $515,051 in taxes, 6% sales and 10% excise.
The first $20 million in tax revenue for the first two years of recreational sales is expected to be spent on research for marijuana use in medicine.
As of Dec. 17, Michigan has issued 16 retail licenses, four more than the dozen “or so” Marijuana Regulatory Agency Director Andrew Brisbo previously projected by 2020.