ANN ARBOR, Mich. - Adult-use pot dispensaries reaped a hefty total following the state's first day open for business.
Confirmed by a spokesman with the Department of Licensing and Regulatory Affairs, recreational marijuana sales totaled $221,000 on Sunday.
At 10 a.m. Sunday morning, three licensed businesses in Ann Arbor opened their doors to lines of consumers interested in being the first to purchase recreational cannabis on the first day of sales. Greenstone, Arbors Wellness, and Exclusive Provisioning Centers were the first three licensed stores to cater to buyers.
Despite the limited number of businesses that are open and only being open for one day, the high payout shouldn't be particularly surprising.
States that have legalized the sale of marijuana have wrangled in strong profit margins. Estimates from Colorado after their first day topped $1 million from the 24 shops that were opened. Nevada scored $27 million in its first month of recreational sales.
Not every state keeps as careful track of its sales, however. California didn't mandate a track and trace system on day one. Instead, a website that covers the cannabis industry did some simple math, estimating the state earned $5.2 million in sales on day one.
Along with the standard 6 percent sales tax, cannabis sales will also include a 10 percent excise tax implemented by Michigan.
Jack Nissen is a reporter at FOX 2 Detroit. You can contact him at (248) 552-5269 or at Jack.Nissen@Foxtv.com