According to the Montana Department of Revenue, licensed marijuana retailers logged a record $26.8 million in August, in combined medical and adult-use cannabis sales.
That monthly total was a 1% increase over July, despite July having five Fridays and five Saturdays, reported Cannabis Business Times.
Moreover, the state recorded $7 million in MMJ and $19.8 million in recreational cannabis last month, with the latter representing 74% of the total market and growing.
So far in 2022, dispensary operators of Montana, a state that is home to about 1.1 million residents, have sold more than $201 million worth of cannabis ($133 million from adult-use sales). Those sales have provided the state with nearly $29.3 million in tax revenue.
Yellowstone County, with 160,000 residents, accounted for an estimated $3.2 million in adult sales and $1.3 million in medical sales in August, representing about 16.6% of the state's combined retail market for the month.
Gallatin County had approximately $3.2 million in adult sales and $915,000 in medical use sales; Missoula County, $2.7 million in adult use and $1 million in medical use, and Flathead had approximately $2.3 million in adult use and $700,000 in medical use.
Blaine, Carbon, Deer Lodge, Lake, and Rosebud counties began adding a 3% local tax option for adult use and medical sales starting in September 2022. While Big Horn, Lewis and Clark, Powell, Ravalli (recreational only), and Silver Bow counties will begin adding that local tax option in October.
Cannabis Developments In Montana
In 2020, Montana officially became the 14th state to legalize adult-use cannabis, with 58% of voters saying yes to the initiative during the November election. The initiative legalized the possession and use of one ounce or less of cannabis or eight grams or less of marijuana concentrate by adults over the age of 21.
In addition, retail marijuana sales for adults 21 and older started in Montana on January 1, 2021.
Recently, Clear Cannabis Inc. (CCI) announced its partnership with Montana's legal cannabis market through Bloom Montana, a licensed cannabis supplier.
“We are ecstatic to establish this partnership and be one of the first nationwide cannabis brands in the great state of Montana,” said Seth Wiggins, president of CCI. “With a newly legalized adult-use market, we know there’s a growing demand for high quality, consistent cannabis products from a reputable brand. As pillars of brand value, The Clear will certainly deliver for the cannabis consumer in Montana.”
Photo: Courtesy Of K O'Shaughnessy On Unsplash
