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Adult-Use Cannabis States Surpass $20 Billion in Tax Revenue

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Through the first quarter of 2024, states have reported a combined total of more than $20 billion in tax revenue from legal, adult-use cannabis sales, according to a new report from Marijuana Policy Project.

Arizona saw $67,164,023 in cannabis sales tax revenue from January through March 2024. The state’s total tax revenue from cannabis sales in 2023 came to $635,617,878.

Twenty-four states have legalized cannabis possession for adults 21 and older. All but one of them — Virginia — have also legalized, regulated, and taxed cannabis sales. In two legalization states — Delaware and Ohio — sales have not begun yet.

In 2023, legalization states generated more than $4 billion in cannabis tax revenue from adult-use sales, which is the most revenue generated by cannabis sales in a single year.

Tax Revenue in 2023:

• Alaska: $28,097,114
• Arizona: $257,929,322
• California: $1,082,452,368
• Colorado: $256,756,467
• Connecticut: $24,613,367
• Illinois: $552,166,729
• Maine: $35,593,347
• Maryland: approximately $29,880,000
• Massachusetts: $263,488,752
• Michigan: $473,303,560
• Missouri: $105,941,225
• Montana: $51,636,106
• Nevada: $178,135,259
• New Jersey: $45,083,223
• New Mexico: $67,440,312
• New York: approximately $21,000,000
• Rhode Island: $12,621,982
• Oregon: $148,133,667
• Washington: $532,516,060
• Vermont: $21,642,857
• Overall Total: approximately $4,188,431,717

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