New Mexico Cannabis Sales Remain Steady at $21.2M in June

Adult-use cannabis sales in New Mexico have remained consistent, reaching $21.2 million in June after seeing a similar amount in May.

Full story after the jump.

New Mexico adult-use cannabis sales remained steady in June, totaling $21.2 million, according to Cannabis Control Division (CCD) data outlined by KRQE. In May, the agency reported $21.1 million in sales, down about $1 million from the previous – and first – month of sales.    

Albuquerque, again, led the state in sales with $7 million while Hobbs and Sunland Park – cities near the Texas border – continued to see more than $1 million in sales last month.  

Sunland Park last week approved allowing drive-thru sales and letting new cannabis businesses open 200 feet away from schools and daycares but rejected a plan for around-the-clock sales, according to Border Report.  

Santa Fe had the second most sales in the state with $1.7 million, followed by Las Cruces with $1.6 million in sales. 

In May, the state saw more than $2.5 million in revenue from cannabis taxes; June taxes will be reported next month. In February, the state Supreme Court ruled that medical cannabis products could no longer be taxed and that the between $25 million and $30 million in gross receipts taxes it had collected would need to be refunded to the companies they collected the taxes from. 

Non-medical cannabis sales in New Mexico carry a 12% excise tax in addition to the gross receipts tax that businesses are required to pay. In April, 114 retailers filed tax returns, paying $2,422,678 in excise tax and $1,635,243 in gross receipts tax.  

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