New Mexico cannabis sales down slightly, though monthly tax revenue increases

Michael McDevitt, Las Cruces Sun-News
·2 min read
Hashtag Cannabis opened on 4/20, offering free T-shirts to the first 50 customers and free hot dogs to all patrons. The dispensary sells two strains of cannabis, both locally grown in Las Cruces that are exclusive to Hashtag Cannabis and the grower's dispensary in Anthony.
Hashtag Cannabis opened on 4/20, offering free T-shirts to the first 50 customers and free hot dogs to all patrons. The dispensary sells two strains of cannabis, both locally grown in Las Cruces that are exclusive to Hashtag Cannabis and the grower's dispensary in Anthony.

Cannabis sales statewide continued to decline in June, with sales stronger in May and strongest in April — when adult-use recreational sales became legal — though taxable, recreational sales have continued to make up a greater share of activity.

The Cannabis Control Division of the state Regulation and Licensing Department announced on Tuesday that licensed retailers in New Mexico sold $37.7 million in cannabis products in June.

While June's numbers reflect a decrease from the statewide sales numbers in May, which were $38.5 million, strictly adult-use sales figures were up. About $21.2 million in recreational cannabis was sold in June versus $21.1 million in May, and the adult-use figures in June accounted for a larger share of the market than in May. Recreational cannabis made up 56.2 percent of total sales in June versus 54.7 percent of total sales in May. June's share topped even April by a hair, when recreational sales made up 56.1 percent of all sales.

MORE: Cannabis users visit state's first pot consumption lounge, located in Las Cruces

Statewide sales figures combine both medical and recreational cannabis sales, though only recreational sales generate excise tax. Tax-free medical cannabis sales amounted to $16.5 million.

“One year ago, on June 29th, Governor Lujan Grisham signed legislation that created the Cannabis Regulation Act. As adult-use sales remain steady, this new industry is bringing new economic opportunities for entrepreneurs and communities across New Mexico” said Acting CCD Director Carolina Barrera in a news release.

The top five cities for sales numbers were Albuquerque, Santa Fe, Las Cruces, Rio Rancho and Hobbs, according to CCD, though total sales were down in all five of those cities when compared to May.

In June, the state's most populous city, Albuquerque, sold about $13.7 million worth of cannabis products. In Las Cruces, the second largest city, about $3.1 million worth of cannabis was sold. Among the top five cities, only in Rio Rancho did medical sales outpace recreational sales. Medical sales there amounted to $924,781 and recreational sales totaled $716,053, according to the state.

Drive-thru weed? Sunland Park loosens rules on cannabis shops

Tax revenue is also up. The New Mexico Taxation and Revenue Department received 124 cannabis excise tax returns, CCD stated, which totaled $2.5 million in taxes due for the June filing period, reflecting sales activity in May. That's higher than the previous month, when April sales activity brought in $2.4 million in excise taxes during the May filing period.

Michael McDevitt is a city and county government reporter for the Sun-News. He can be reached at 575-202-3205, mmcdevitt@lcsun-news.com or @MikeMcDTweets on Twitter.

This article originally appeared on Las Cruces Sun-News: New Mexico sells $37.7 million in cannabis in June, tax revenue up