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The American marijuana industry was worth about $57 billion in 2023 and is projected to reach $444 billion by 2030, a staggering growth that reflects it as the fastest-growing industry anywhere in the world. Cannabis use is increasing all around the world. Gen Z is drinking far less alcohol, and many of them don’t use it at all.
Data for tax revenue from wholesale taxes has not yet been made available. million) | Tax rate: 9% marijuana sales tax; 4% local sales tax; for distributors, a potency tax on THC of $0.005/mg for flower, $0.008/mg for concentrates, and $0.03/mg Maine (pop. New York (pop. mg for edibles. On March 31, 2021, Gov. New Mexico (pop.
million) | Tax rate: 9% cannabis sales tax; 4% local sales tax; for distributors, a potency tax on THC of $0.005/mg for flower, $0.008/mg for concentrates, and $0.03/mg 7 Monthly excise tax data: [link] (for data prior to 2017); Monthly sales tax data and excise tax estimates based on sales volume provided here: [link].
Worldwide legal marijuana sales have more than tripled between 2014 and 2018 to almost $11 billion, and most analysts on Wall Street predict that legal weed could generate anywhere from $50 billion to $200 billion a year by the time 2030 rolls around. entirely illegal, prone to abuse, and not recognized as having any medical benefits).
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