new-york-legal-weed-sales-lower-than-projections-

[Historic NY]

As New York cracked down on unlicensed cannabis shops, sales of legal marijuana grew to reach a total of $33 million during the industry’s first six months, state records show.

But the legal cannabis marketplace, which launched in January, remains far from realizing the lofty political promises of state lawmakers who championed adult-use marijuana legalization in 2021.

Instead of generating hundreds of millions of dollars in tax revenue per year as projected, the cannabis industry produced about $4.3 million in sales tax receipts from January through June. That’s based on the state’s 13% retail tax rate on marijuana.

https://www.recordonline.com/story/news/2023/08/03/new-york-legal-weed-sales-lower-than-projections-six-times-less-than-new-jersey/70508518007/]


Some would say it was a pipe dream

[Midnight Writer]

1. Wait for it. The rollout in Illinois was very slow, because we couldn't keep up with initial demand.

It took nearly a year for dispensaries to actually have flower in stock.

[Marcuse]

2. Duh!

After New York struggled earlier this year to open more legal marijuana dispensaries, a total of 20 dispensaries had opened by the end of June, up from 13 the prior month.