A Marijuana Regulatory Agency commissioned an economic analysis through Michigan State University that estimated the total mature marijuana market in Michigan will generate about $3 billion a year in the year to come. In 2020 alone, sales could top $1 billion, generating a six percent sales tax and 10 percent excise tax that would be split between the state and local governments.

“In terms of that excise tax, again that’s only on the adult-use side, but we are seeing close to $60 million a month in sales in the adult-use program already,” MRA Director Andrew Brisbo said.

As of November 4, 2020, there are 321 active licenses for medical marijuana provisioning centers and 43 licenses for adult-use marijuana retailers.

To read more, click on https://upnorthlive.com/news/local/special-report-marijuana-industry-on-pace-to-reach-about-1-billion-in-sales