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New Mexico’s Total Cannabis Sales Set New Record in August

The state’s total medical and adult-use cannabis sales surpassed $40 million last month.

New Mexico Sign Adobe Stock Credit Spiritofamerica Resized

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Melissa Schiller

September 8, 2022

The New Mexico Cannabis Control Division of the Regulation and Licensing Department announced Sept. 7 that the state’s total cannabis sales set a new record in August, with total medical and adult-use sales surpassing $40 million.

Medical cannabis sales totaled $16,459,951.69 last month and adult-use sales totaled $24,219,338.50, for a grand total of $40,679,290.19.

RELATED: New Mexico Total Cannabis Sales Top $40 Million in July

Albuquerque, Santa Fe, Las Cruces, Hobbes and Rio Rancho reported the highest sales numbers, with Albuquerque racking up $14,628,736.33 in total sales.

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Medical cannabis patients are increasingly exiting registries as their state programs continue to deteriorate following the launch of adult-use sales.

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Federal Judge Rules Medical Cannabis Isn’t Covered by Insurance

The U.S. district judge determined New Mexico law doesn’t mandate coverage, and, if it did, such a law would be preempted by federal law.

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New Mexico Bill to Provide Health Insurance for Medical Cannabis Advances

The legislation could further the argument that cannabis has currently accepted medical use despite federal prohibition in the U.S.

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21 States With the Highest, Lowest Cannabis Sales Per Dispensary

With only seven dispensaries, Rhode Island tops the list with nearly $17 million in annual sales revenue per store. But that will soon change.

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New Mexico

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These 23 States, DC Collected $2.9 Billion in Cannabis Excise Tax Revenue in 2023

While Washington levies the highest excise tax rate in the nation, its cannabis revenue didn’t represent the highest percent of its total state tax revenue.

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Bright Green Corp. Submits DEA Registration For Production of Schedule I, II Controlled Substances

The application follows the company’s approval from the New Mexico Board of Pharmacy this year.

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New Mexico Regulators Revoke Licenses for 2 Cannabis Growers, Issue $1 Million Fines to Each

Bliss Farm and Native American Agricultural Development Co. in Torrance County exceeded their licensed plant limits, according to state officials.

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Stone Road Farms Partners With Stash House for New Mexico Expansion

Executives from both businesses say a strong partnership was essential to bringing Stone Road’s California-based brand to New Mexico’s rapidly growing market.

Founded in 2016 by Lex Corwin, Stone Road Farms produces sun-grown flower on a 57-acre, off-grid biodynamic farm in Nevada City, Calif.

When and How 24 States Legalized Adult-Use Cannabis in the US: A Timeline With Current Tax Rates

Here’s the full breakdown of which states legalized through ballot measures versus legislative action and their taxation structures, including the most recent to join the list -- Ohio.

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New Mexico Regulators Work to Bring Cannabis Businesses Into Tax Compliance

The New Mexico Taxation and Revenue Department began contacting dispensary licensees over the summer to notify them that they had failed to file one or more tax returns since registering with the department.

New Mexico Sign Adobe Stock Credit Spiritofamerica Resized2

New Mexico, Montana Continue Breaking Cannabis Sales Records; Among Best Performing Markets in Nation

The emerging adult-use programs are outdoing their legalization peers on a per-capita sales basis.

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