Serving the High Plains
Serving the High Plains
Tucumcari recorded more than $181,000 in cannabis sales in April, the first month recreational marijuana could be legally sold in New Mexico.
More than $147,000 in those sales were listed as adult use, according to data supplied to the Quay County Sun by the state’s Cannabis Control Division. That was more than 81% of the total. The rest was medical marijuana sales.
Local governments will receive a minority share of New Mexico’s 12% excise tax on recreational marijuana sales, along with a share of additional sales taxes.
The first tax payments from adult-use cannabis retail sales are due on May 25.
Medical cannabis remains tax-free.
Only one cannabis retail shop, Buds n’ More, was operating in Tucumcari during the first day of legal cannabis sales on April 1.
Two more retail cannabis dispensaries — Downtown Dispensary and Puff on 66 — opened in Tucumcari by mid-April. Another, Bud In Bud Out on East Main Street, is scheduled to open this week. At least three more are expected to open in the city in the days and weeks ahead.
According to the Cannabis Control Division database, more than 20 other microbusiness, producer or manufacturer license applications from the Tucumcari area have been filed.
The database also indicates a cannabis business license recently was filed for a location along U.S. 54 in Logan.
To date, no other marijuana-based businesses have opened in Quay County.
In New Mexico overall, more than $39 million in legal cannabis sales were reported in April. About $22 million of that was adult-use.
New Mexico officials stated during legal marijuana’s opening week that sales were strong in the eastern part of the state near Texas, where cannabis remains illegal.
Hobbs, for example, saw more than $1.7 million in sales in April. Clovis recorded $1.28 million in sales. Other first-month sales for eastern New Mexico towns: Clayton, $87,220; Texico, $17,275; and Portales, $397,908.
The cannabis industry in New Mexico is projected to generate $300 million annually in sales, create 11,000 jobs and bring in $50 million in state revenue during its first year.