Long lines, heavy demand, temporary shortages and purchase limits highlighted the first week of recreational marijuana sales in Michigan when a handful of licensed businesses rang up $1.63 million in sales.
That translates to nearly $270,414 in tax revenue for Michigan between Dec. 1 and Dec. 8, including a 10% excise and 6% sales tax.
State budget officials are projecting recreational marijuana to become a $1.5 billion-per-year industry by late 2021.
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Gus Burns ~ Mlive.com ~
