You Won’t Believe How Much Money New Mexico Made In Pot Taxes
New Mexico first legalized marijuana in April, 2022 and they have been cleaning up ever since.
Five months ago, New Mexico gave us the lowdown on how much was spent, ($300 Million), on New Mexico Mota in the first year since legalizing it.
Did you see that Governor Abbott? $300 Meeeeeeellion.
As far as taxes go, almost $30 million went into the state's pocket after the first 12 months and NM expects those totals to keep growing as time goes on.
Monthly sales have remained consistent throughout the last year, with March 2023 marking the highest adult-use sales at $32.3 million. As of March 2023, more than $27 million in cannabis excise taxes has gone to the state general fund and to local communities. To date, the state has recorded more than 10 million transactions. - governor.state.nm
For more details on licensing, sales, etc; click here.
Texas is sitting on a 32.7 billion ... with a "B" ... budget surplus as it is.
That means someone, oh ... let's say our kids underbudgeted school system ... could use ALL the Marijuana money for badly needed materials and improvements.
New Mexico, with a population of 2.1 million, sold $300 million worth of ganja in the first year.
The lone star state's population is over 30 million. Can you imagine the money Texas would generate?
Sunland Park, New Mexico, alone sold $19.4 million and a BIG chunk of that, I guarantee you, came from Texans in El Paso.
C'mon now leaders ...
You could do/fix so many things and never even touch that gigantic surplus.
What is taking you so long??