Massachusetts, the US state of Boston, Cambridge, Harvard, and the prestigious MIT, have just entered a very closed club: that of multi-billionaire states in cannabis sales. the Bay state just passed $ 2 billion in sales, according to figures from the Massachusetts Cannabis Control Commission.
They will surely not stop there. The growth in sales of cannabis flowers, oils and edibles is sustainable and continuous. The proof ? The state of Massachusetts took two years to pass the symbolic billion dollar sales mark in November 2020. To reach the second billion, it took just ten short months.
If we go back a few months, the start of the cannabis sales program was calm. Even very calm. At the start of legal sales, in November 2018, the news was tarnished by several hiccups, such as this producer having received the green light to cultivate cannabis … without any store to sell it to.
Home delivery of cannabis
Since then, this new industry seems to have found its cruising speed. New innovations are even giving a little boost to sales, such as the authorization of home delivery of cannabis in the summer of 2021. Three companies are licensed to travel across the state and deliver to customers at home. them, which should allow continued growth.
The prices, they remain at a low level: 14.17 dollars per gram, or almost 12 euros, taxes included. The figure has been stable for over a year, a good signal for consumers. This price obviously includes taxes. 6.25% of the sale is collected by the State, in addition to 10.75% excise duty (a tax on tobacco, alcohol, petroleum, etc.) and up to 3% municipal tax.
Logically, cannabis from Boston and Cambridge is a new windfall for public finances. $ 122 million landed in state coffers for the first two years of legal sales. With the new record sales, taxes will also peak. In Illinois, mandatory levies on cannabis sales exceeded those on alcohol for the very first time.