PHOENIX — Recreational marijuana sales in Arizona continue to rise.
As a consequence, more money is flowing into state and local coffers, according to the most recent data from the Arizona Department of Revenue.
Marijuana is big business.
Since 2021 the state estimates sales for both medical and recreational use at over $3 billion.
In just the last year recreational sales surged to $1.1 billion, a 39% increase from the prior fiscal year. Medical sales meanwhile are estimated at $566 million, a 35% decrease.
It did not take long for recreational sales to outpace medical.
In late 2021, recreational surpassed medical at the $65 million mark monthly. Since then, monthly estimates for recreational are above $80 million while medical sales have fallen below $30 million.
Since the recreational use law passed in 2020, sales tax collections for marijuana are over half a billion dollars.
The 2022 fiscal year for the Department of Revenue reports collections of $256 million.
This fiscal year is not over yet, but ABC15 estimated revenue for the remaining months, calculating that collections should rise to $275 million. A 7% annual increase.
In the first nine months of this fiscal year, the state has collected $206 million.
Much of that is from luxury tax sales on recreational use, $122 million.
This is a 65% rise from the first nine months of the last fiscal year.
Sales taxes also had double-digit increases. The taxes are split between state, city, county, and a levy for education.
