Data as of 2025-02-28

New Mexico

New Mexico enacted the Cannabis Regulation Act on June 29, 2021; legal adult-use sales began 276 days later, on April 1, 2022. The market's defining structural feature is set in statute: the division is barred from limiting the number of licensed premises, so New Mexico caps plant count per cultivator rather than the number of licenses, and local jurisdictions are prohibited from completely banning a licensee's operation. As of the September 30, 2023 reporting vintage the state had approved 849 cultivation-authorized licenses and 1,013 retail premises. For calendar-year 2024 total legal sales were approximately $584.3 million — roughly $442.6 million adult-use and $141.7 million medical — which works out to about $275.6 in sales per resident, a figure inflated at the Texas border, where towns such as Sunland Park draw heavy cross-border purchasing. Retail prices have fallen sharply: the state's 2025 Demand Study reports weighted-average flower at $4.04 per gram in February 2025, down 61.92 percent from $10.61 per gram at launch. The cannabis excise tax rose from 12 percent to 13 percent on July 1, 2025, under a statutory escalator that climbs to 18 percent by 2030. Medical cannabis is exempt from both the excise and the gross receipts tax.

Market

Licensing & Market

New Mexico does not cap the number of cannabis licenses. The Cannabis Regulation Act bars the division from limiting the number of licensed premises a licensee may occupy, and caps plant count per cultivator — a statutory 20,000-plant ceiling — instead. As of the September 30, 2023 reporting vintage the state had approved 849 cultivation-authorized licenses and 1,013 retail premises. New Mexico publishes approved-license counts, not a verified-operational count, so activation rates cannot be computed. Measured against approved licenses, there are 400.4 cultivation licenses per million residents and 47.8 retail premises per 100,000 residents; both figures are computed off approved rather than operating licenses and read as licensing-density ceilings. Vertical integration is permitted as a license type, neither required nor prohibited, and there is no residency requirement. Local opt-out is prohibited: under §26-2C-12(B)(2) a local jurisdiction may not completely prohibit a licensee's operation, limiting local control to time, place, and manner zoning. The state tracks product through BioTrack. The base annual license fee is $2,500 for both producers and retailers, with a producer microbusiness license at $1,000 per year for up to 200 plants. Licenses are reported to be non-transferable, with ownership changes handled through an amended-license application.

Field Value Source
Cultivator licenses awarded 849 [8]
Cultivator licenses operational Not available in the public record —
Cultivator activation rate Not available in the public record —
Operating cultivators per million 400.4 [9]
Retail licenses awarded 1013 [10]
Retail licenses operational Not available in the public record —
Retail activation rate Not available in the public record —
Dispensaries per 100k 47.8 [11]
Vertical integration allowed [12]
License caps exist No [13]
Licenses transferable No [14]
Residency required No [15]
Residency duration (months) Not available in the public record —
Municipalities allowing Not available in the public record —
Municipalities total 106 [16]
Municipal opt-in rate Not available in the public record —
Track-and-trace system BioTrack [17]
Cultivator application fee Not available in the public record —
Cultivator annual fee $2,500 [18]
Retail application fee Not available in the public record —
Retail annual fee $2,500 [19]
Consumers

Consumer Rules

Adults 21 and over may possess up to 2 ounces of cannabis outside a private residence, along with 16 grams of cannabis extract and 800 milligrams of edible cannabis. Home cultivation is permitted: up to 6 mature and 6 immature plants per person, capped at 12 mature plants per household. Per-transaction purchases are limited to the same 2 ounces of flower, 16 grams of extract, and 800 milligrams of edibles. All major product forms are legal, and the division is barred by statute from limiting THC concentration in a product; restrictions apply to products and packaging attractive to children. Delivery is legal under a cannabis courier license and is operational, with 48 courier licenses approved as of September 30, 2023. Consumption areas are authorized as a separately licensed type; 21 had been approved as of the same date, an approved-license count rather than a verified-operational one.

Field Value Source
Home grow allowed Yes [20]
Home grow plant limit 6 [21]
Possession limit (oz) 2 [22]
Delivery legal Yes [23]
Delivery operational Yes [24]
Consumption lounges legal Yes [25]
Consumption lounges count 21 [26]
Purchase limit, flower (oz) 2 [27]
Purchase limit, concentrate (g) 16 [28]
Purchase limit, edibles (mg) 800 [29]
All product forms legal Yes [30]
Restricted product forms No statutory THC-potency cap (the division is barred from limiting THC concentration in a product, §26-2C). Standard restrictions apply on products and packaging that are attractive to children (CCD rules, NMAC 16.8.3). [31]
Taxes

Taxation

New Mexico imposes a 13 percent cannabis excise tax on the price paid for a product, effective July 1, 2025, up from 12 percent under a statutory escalator that rises one point per year to 18 percent by July 1, 2030. Adult-use cannabis is also subject to the state Gross Receipts Tax, whose combined state and local rate is location-variable, so there is no single statewide cannabis sales-tax rate to report; a typical metro consumer pays the 13 percent excise plus roughly 7 to 8.5 percent in gross receipts tax. Medical cannabis is exempt from both the excise tax and the gross receipts tax. Total cannabis excise revenue for fiscal year 2024 was approximately $49.05 million — derived from the published $32.7 million general-fund share, which is two-thirds of the total under the statutory split that sends the remaining third to local governments. That works out to roughly $23.1 in cannabis excise per resident.

Field Value Source
Excise tax 13% [32]
Excise tax type per price [33]
Sales tax Not available in the public record —
Wholesale tax Not available in the public record —
Potency tax exists No [34]
Potency tax, flower Not available in the public record —
Potency tax, concentrate Not available in the public record —
Potency tax, edibles Not available in the public record —
Local tax (max) Not available in the public record —
Local tax (typical) Not available in the public record —
Total effective rate Not available in the public record —
Medical tax exempt Yes [35]
Medical tax rate Not available in the public record —
Annual tax revenue $49,050,000 [36]
Tax revenue per capita $23.1 [37]
Tax changed since legalization Yes [38]
Tax direction increased [39]
Operators

Operator Data

Total legal sales for calendar-year 2024 were approximately $584.3 million, of which roughly $442.6 million was adult-use. A reliable year-over-year growth rate cannot be computed: no clean full-year 2023 total is published in primary form — the state's legislative handout reports only January through September 2023 — and a calendar-year 2025 annual total has not been confirmed. Retail prices are declining steeply. The 2025 Demand Study, drawing on more than 85 million BioTrack retail records, reports weighted-average flower at $4.04 per gram (about $114.53 per ounce) in February 2025, down 61.92 percent from launch, with concentrates down 77.33 percent and vapes down 74.26 percent over the same span. New Mexico publishes no official wholesale price benchmark, so wholesale-level compression and operator margins cannot be quantified from public records; the only wholesale figures available come from proprietary trackers not used here. The state does not publish a clean count of license attrition or peak-versus-current cultivation licenses.

Field Value Source
Wholesale flower ($/lb) Not available in the public record —
Wholesale flower period Not available in the public record —
Wholesale trend declining [40]
Wholesale price compression Not available in the public record —
Retail flower ($/oz) $114.53 [41]
Operator margin Not available in the public record —
Total market sales $584,300,000 [42]
Adult-use sales $442,600,000 [43]
Per-capita sales $209.48 [44]
YoY sales growth Not available in the public record —
License attrition (count) Not available in the public record —
License attrition Not available in the public record —
Peak cultivation licenses Not available in the public record —
Current cultivation licenses 849 [45]
Outcomes

Consumer Data

New Mexico residents purchased approximately $275.6 of legal cannabis per capita in calendar-year 2024, a figure inflated at the Texas border, where towns such as Sunland Park record adult-use sales far in excess of their population. Measured against approved retail licenses, there are 47.8 retail premises per 100,000 residents. Retail prices are declining: weighted-average flower fell 61.92 percent between April 2022 and February 2025. The state's 2025 Demand Study estimates legal-market capture at 61.10 percent — the share of non-patient consumers' cannabis expenditures sourced from the regulated market alone, rising to 88.9 percent when the gray market is included — based on a consumer survey with a sample of roughly 198 respondents.

Field Value Source
Per-capita sales $209.48 [44]
Dispensaries per 100k 47.8 [11]
Legal market capture 61.1% [46]
Legal capture source 2025 NM Cannabis Market Supply & Demand Analysis Report (CPPC for NM RLD/CCD, June 2025): non-patient consumers source 61.10% of their cannabis expenditures from the regulated market alone (88.9% from regulated + gray combined). [47]
Retail price trend declining [48]
Equity

Equity Programs

New Mexico's equity model is a participation-promotion mandate rather than a license set-aside. The Cannabis Regulation Act directs the division to adopt procedures that promote and encourage full participation by communities disproportionately harmed by cannabis prohibition, with applicants required to file a social and economic equity plan. Entry cost is lowered through the producer microbusiness license — $1,000 per year for up to 200 plants — and the integrated microbusiness license. There is no equity-specific license category, no mandatory fee waiver, and no dedicated equity grant fund; excise revenue flows to the general fund and to local governments rather than to a community-reinvestment fund. The state publishes no count of equity-designated licenses, nor a verified figure for minority- or women-owned share; the division's 2023 demographic data describes industry participants rather than verified ownership and is not reported here as an ownership percentage. Expungement is automatic. A 2021 companion law provides for automatic expungement of qualifying cannabis records, and the Administrative Office of the Courts reported approximately 14,000 cases expunged as of May 2023, against an estimated 150,000-plus eligible residents; the automatic mechanism has documented implementation gaps, with some records still requiring a petition.

Field Value Source
Equity program exists Yes [49]
Equity program type Participation-goal model with low-barrier microbusiness licensing — NOT a license set-aside. The Cannabis Regulation Act directs the division to adopt procedures that promote and encourage full participation in the industry by people from communities disproportionately harmed by cannabis prohibition, with emphasis on racial, ethnic, gender and geographic diversity (§26-2C). Applicants must file a social & economic equity plan. Entry cost is lowered via the cannabis producer microbusiness license ($1,000/yr, up to 200 plants) and the integrated microbusiness license. There is no equity-specific license category, no mandatory fee waiver, and no dedicated equity grant fund. [50]
Equity licenses awarded Not available in the public record —
Equity licenses operational Not available in the public record —
Equity activation rate Not available in the public record —
Equity fund exists No [51]
Equity fund size Not available in the public record —
Equity fund disbursed Not available in the public record —
Equity fund disbursement rate Not available in the public record —
Minority ownership Not available in the public record —
Women ownership Not available in the public record —
Community reinvestment Not available in the public record —
Expungement exists Yes [52]
Expungement automatic Yes [53]
Expungements processed 14000 [54]
Income cap for equity Not available in the public record —
Enforcement

Enforcement

New Mexico tracks regulated product through BioTrack. For January through September 2023 the Cannabis Control Division reported 572 inspections, 2,777 violations found, and 10 Notices of Contemplated Action — the formal enforcement step — resulting in 4 settlements, 2 pending hearings, 3 license revocations, and 1 preliminary injunction. In 2025 the state funded a dedicated cannabis enforcement bureau, roughly $1.6 million and 7 staff, to target the unlicensed commercial market through administrative seizure and enforcement. Beyond these figures the state does not publish the broader operational metrics of enforcement as sourceable public data: illicit-market enforcement actions, a clean division-level regulatory budget and staffing total, a fixed count of mandatory testing analytes, per-batch testing cost, product recalls, and the fine schedule are not available in the public record — not because enforcement does not occur, but because the regulator does not report these figures in a form that can be sourced for a public reference.

Field Value Source
Track-and-trace system BioTrack [17]
Inspections per year 572 [55]
Enforcement actions (licensees) 10 [56]
Unlicensed-market enforcement actions Not available in the public record —
Regulatory budget Not available in the public record —
Regulatory staff Not available in the public record —
Mandatory testing analytes Not available in the public record —
Testing cost per batch Not available in the public record —
Product recalls per year Not available in the public record —
Fine schedule (min) Not available in the public record —
Fine schedule (max) Not available in the public record —
Criminal Law

Penalties & Criminal Law

The 2021 Cannabis Regulation Act and a companion expungement law legalized adult possession of up to 2 ounces, authorized home cultivation, and created automatic expungement of prior cannabis convictions; all post-legalization changes have been liberalizing for consumers, and no penalties were increased. Possession above the 2-ounce public limit is a misdemeanor up to 8 ounces — carrying up to 364 days and a fine up to $1,000 — and 8 ounces (226.8 grams) or more is a fourth-degree felony carrying up to 18 months and a fine up to $5,000. A transfer of up to 2 ounces between adults 21 and over without remuneration is not penalized. Unlicensed cultivation beyond the personal allowance and unlicensed distribution are prosecuted under the New Mexico Controlled Substances Act, where penalties escalate by quantity and prior offenses up to a first-degree felony. New Mexico sets no per se THC blood limit for impaired driving, charging cannabis-impaired driving under an actual-impairment standard. Post-legalization arrest counts and racial-disparity ratios are not asserted here: no current post-legalization series is published.

Field Value Source
Max penalty, unlicensed cultivation Cultivation beyond the personal allowance (6 mature plants/person) is prosecuted under the NM Controlled Substances Act. Per NORML's NM penalties summary, cultivating more than the legal number of plants is a felony, escalating from a second-degree felony (up to 9 years, $10,000) to a first-degree felony (up to 18 years, $15,000) for a subsequent offense. [57]
Max penalty, unlicensed sale Unlicensed distribution/sale is prosecuted under the NM Controlled Substances Act (NMSA 30-31). Penalties escalate by quantity and prior offenses up to a felony; a no-remuneration transfer of up to 2 oz between adults 21+ is not penalized under the Cannabis Regulation Act. [58]
Felony threshold (grams) 226.8 [59]
Felony threshold type possession [60]
Penalty, possession over limit Possession over the 2 oz public limit: more than 2 oz up to 8 oz is a misdemeanor (up to 364 days, up to $1,000); 8 oz or more is a fourth-degree felony (up to 18 months, up to $5,000). [61]
Penalty, public consumption Not available in the public record —
DUI per se limit (ng) Not available in the public record —
DUI zero tolerance No [62]
Penalties increased post-legalization No [63]
Penalty direction lighter [64]
Penalty direction details The 2021 Cannabis Regulation Act and companion expungement legislation legalized adult possession of up to 2 oz, authorized home cultivation, and created automatic expungement of prior cannabis convictions. All post-legalization changes have been liberalizing for consumers. The 2025 creation of a CCD enforcement bureau (7 staff, ~$1.6M) targets the UNLICENSED commercial market through administrative seizure/enforcement, not increased criminal penalties on consumers. [65]
Post-legalization arrests (annual) Not available in the public record —
Racial disparity ratio Not available in the public record —
Expungement exists Yes [52]
Expungement automatic Yes [53]

Sources

  1. ↑ U.S. Census Bureau, New Mexico profile https://data.census.gov/profile/New_Mexico?g=0400000US35
  2. ↑ USPS / U.S. Census Bureau standard two-letter abbreviation for New Mexico.
  3. ↑ Freshest market data point: full calendar-year 2025 sales (CROP). License-count and enforcement fields reflect the CCD's Sep 30, 2023 reporting vintage https://crop.rld.nm.gov/sales.html
  4. ↑ NM Cannabis Regulation Act (Laws 2021, 1st Special Session, ch. 4; NMSA 1978 §26-2C), effective June 29, 2021 (90 days after adjournment per N.M. Const. art. IV §23) https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  5. ↑ NM CCD — first legal adult-use retail sales began April 1, 2022 (the CCD's revenue reporting window opens at 'April 1, 2022'). CCD ERDPC handout, Oct 11 2023 https://www.nmlegis.gov/handouts/ERDPC%20101123%20Item%201%20Cannabis%20Control%20Division.pdf
  6. ↑ CALC: first sale (2022-04-01) minus Act effective date (2021-06-29) = 276 days.
  7. ↑ U.S. Census Bureau, 2024 estimate for New Mexico = 2,120,246. (the QuickFacts PEP table returned HTTP 403 to the automated fetcher; confirm the exact Vintage-2024 estimate in-browser) https://data.census.gov/profile/New_Mexico?g=0400000US35
  8. ↑ CCD ERDPC handout, Oct 11 2023 (as of 2023-09-30): cultivation-authorized premises = 849 = individual producer 241 + producer microbusiness 249 + vertically-integrated producer 148 + micro-integrated producer 211 https://www.nmlegis.gov/handouts/ERDPC%20101123%20Item%201%20Cannabis%20Control%20Division.pdf
  9. ↑ CALC: 849 cultivation-authorized licenses / (2,120,246 / 1,000,000) = 400.4 per million. (Based on approved licenses; NM does not publish a verified-operational cultivation count.)
  10. ↑ CCD ERDPC handout, Oct 11 2023 (as of 2023-09-30): retail premises = 1,013 = vertically-integrated retail 430 + micro-integrated retail 190 + individual retailer 393 https://www.nmlegis.gov/handouts/ERDPC%20101123%20Item%201%20Cannabis%20Control%20Division.pdf
  11. ↑ CALC: 1,013 approved retail premises (2023-09-30) / (2,120,246 / 100,000) = 47.8 per 100k. (Based on approved retail licenses; NM does not publish a verified-operational dispensary count, so this is a ceiling.)
  12. ↑ NM Cannabis Regulation Act §26-2C — a 'vertically integrated cannabis establishment' is an authorized license type (annual fee $7,500); integration is allowed, neither required nor prohibited https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  13. ↑ NM Cannabis Regulation Act §26-2C (licensing; limitations): 'the division shall not limit the number of licensed premises a licensee may occupy or operate ... shall not place any restriction or prohibition on the number of licensees occupying a single licensed premises or on the number of licensed premises.' NM caps plant count per cultivator (statutory 20,000-plant limit), not the number of licenses https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  14. ↑ [SECONDARY] NM cannabis licenses are non-transferable; ownership/structure changes require applying for an amended license through the CCD (NMAC 16.8.2). (confirm exact rule text in-browser) https://www.rld.nm.gov/cannabis/licensing/apply-renew-a-cannabis-license/
  15. ↑ NM Cannabis Regulation Act §26-2C-9(H): the division 'shall not ... impose any residency' requirement on licensees; no consumer residency requirement https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  16. ↑ [SECONDARY] New Mexico has 106 incorporated municipalities (plus 33 counties); the Cannabis Regulation Act defines 'local jurisdiction' as a municipality, home-rule municipality or county. Municipal count per NM Municipal League / Census https://nmml.org/DocumentCenter/View/1297/New-Mexico-Incorporated-Municipalities-Alpha-List-PDF
  17. ↑ NM uses BioTrack as the statewide seed-to-sale tracking system; the 2025 Demand Study analyzed 'over 85 million retail cannabis sales records from BioTrack,' and CCD references BioTrack investigations https://www.rld.nm.gov/cannabis/data-news/
  18. ↑ CCD Licensing Description & Fees and §26-2C-14 — Cannabis Producer license annual fee $2,500 (plus $1,000 per additional licensed premises and a per-mature-plant fee of $5.00 commercial / $2.50 medical) https://www.rld.nm.gov/cannabis/licensing/apply-renew-a-cannabis-license/ccd-licensing-description-and-fees/
  19. ↑ CCD Licensing Description & Fees and §26-2C-14 — Cannabis Retailer license annual fee $2,500 (plus $1,000 per additional licensed premises) https://www.rld.nm.gov/cannabis/licensing/apply-renew-a-cannabis-license/ccd-licensing-description-and-fees/
  20. ↑ NM Cannabis Regulation Act §26-2C-25 (Personal use of cannabis) authorizes home cultivation by adults 21+ https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  21. ↑ NM Cannabis Regulation Act §26-2C-25 — up to 6 mature and 6 immature cannabis plants per person, with no more than 12 mature plants per household. Field records the 6 mature/person figure https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  22. ↑ NM Cannabis Regulation Act §26-2C — outside a private residence a person 21+ may possess no more than 2 ounces of cannabis (plus 16 g cannabis extract and 800 mg edible cannabis) https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  23. ↑ NM Cannabis Regulation Act §26-2C-15 (Transport via courier) — a vertically integrated establishment, retailer or integrated microbusiness may courier cannabis products; a 'cannabis courier' is a licensed type https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  24. ↑ CCD ERDPC handout Oct 11 2023 — 48 cannabis courier licenses approved as of 2023-09-30, indicating delivery is operational https://www.nmlegis.gov/handouts/ERDPC%20101123%20Item%201%20Cannabis%20Control%20Division.pdf
  25. ↑ NM Cannabis Regulation Act §26-2C — 'cannabis consumption area' is an authorized, separately licensed area where cannabis may be served and consumed (indoor/outdoor, 21+) https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  26. ↑ CCD ERDPC handout Oct 11 2023 — 21 cannabis consumption areas approved as of 2023-09-30 (approved licenses; verified-operational count not separately published) https://www.nmlegis.gov/handouts/ERDPC%20101123%20Item%201%20Cannabis%20Control%20Division.pdf
  27. ↑ NM Cannabis Regulation Act §26-2C — a person 21+ shall not purchase more than 2 ounces of cannabis at one time https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  28. ↑ NM Cannabis Regulation Act §26-2C — purchase limit of 16 grams of cannabis extract at one time https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  29. ↑ NM Cannabis Regulation Act §26-2C — purchase limit of 800 milligrams of edible cannabis at one time https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  30. ↑ NM Cannabis Regulation Act §26-2C — flower, extracts/concentrates and edibles are all permitted for adults 21+; the division is expressly barred from limiting THC concentration in a product https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  31. ↑ NM Cannabis Regulation Act §26-2C (no THC potency cap) and CCD packaging/labeling rules (NMAC 16.8.3) restrict products/packaging attractive to children https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  32. ↑ NM Taxation & Revenue Dept, Cannabis Excise Tax — 13% effective July 1, 2025 through June 30, 2026 (escalating 1%/yr from a 12% base toward 18% on July 1, 2030) https://www.tax.newmexico.gov/businesses/cannabis-excise-tax/
  33. ↑ NM TRD — the cannabis excise tax is imposed on 'the price paid' for a cannabis product (ad valorem / per-price) https://www.tax.newmexico.gov/businesses/cannabis-excise-tax/
  34. ↑ NM Cannabis Regulation Act §26-2C bars the division from limiting THC concentration, and the cannabis excise tax is price-based; there is no THC-potency tax https://www.tax.newmexico.gov/businesses/cannabis-excise-tax/
  35. ↑ NM Legislature SB89 Fiscal Impact Report (LFC/TRD, Jan 2025): 'Medical cannabis sales are not subject to the cannabis excise tax or the gross receipts tax.' Also TRD Cannabis Excise Tax page and GRT deduction §7-9-73.2 NMSA 1978 https://www.nmlegis.gov/Sessions/25%20Regular/firs/SB0089.PDF
  36. ↑ CALC/derived from NM Legislature SB89 FIR (LFC/TRD, Jan 2025): FY24 cannabis excise to the general fund = $32.7M, which is two-thirds of total excise (the other third goes to local governments), so total FY24 cannabis excise ≈ $32.7M ÷ (2/3) = $49.05M https://www.nmlegis.gov/Sessions/25%20Regular/firs/SB0089.PDF
  37. ↑ CALC: $49,050,000 FY24 total cannabis excise / 2,120,246 population = $23.1.
  38. ↑ NM TRD — the cannabis excise tax began at 12% and a statutory escalator raised it to 13% on July 1, 2025, rising 1%/yr to 18% by July 1, 2030 https://www.tax.newmexico.gov/businesses/cannabis-excise-tax/
  39. ↑ NM TRD — the excise rate is increasing (12% to 18% via annual 1-point steps); a 2025 bill (SB89) to freeze it at 12% did not stop the July 1, 2025 increase to 13% https://www.tax.newmexico.gov/businesses/cannabis-excise-tax/
  40. ↑ 2025 NM Cannabis Market Supply & Demand Analysis Report (CPPC/CCD, June 2025) — weighted average prices fell sharply across all categories (flower -61.92%, concentrates -77.33%, vapes -74.26% from Apr 2022 to Feb 2025) amid a high volume of licensed operators https://www.rld.nm.gov/cannabis/data-news/
  41. ↑ 2025 NM Demand Study (CPPC/CCD, June 2025): weighted average flower price $4.04/g pre-tax as of Feb 2025. CALC to ounce: $4.04 × 28.35 g/oz = $114.53/oz https://www.rld.nm.gov/cannabis/data-news/
  42. ↑ [SECONDARY] CY2024 total cannabis sales ≈ $584.3M (adult-use ~$442.6M + medical ~$141.7M), from CROP data compiled by newmexicostatecannabis.org/business/sales. Independently corroborated by primary derivation: 2025 Demand Study all-time Apr 2022-Feb 2025 ($1.598B) minus CCD handout cumulative Apr 2022-Sep 2023 ($772.2M) ≈ $826M over the intervening 17 months ≈ $48.6M/month ≈ $583M/yr. Primary portal (JS-rendered): https://crop.rld.nm.gov/sales.html
  43. ↑ [SECONDARY] CY2024 adult-use ≈ $442.6M, via newmexicostatecannabis.org/business/sales (CROP data). Primary portal: https://crop.rld.nm.gov/sales.html
  44. ↑ CALC: CY2024 · adult-use sales $442,600,000 / population 2,112,859 (U.S. Census Vintage 2025) = $209.48. Reconciled adult-use per-capita (matches Operator Outcomes and the ranking page).
  45. ↑ CCD ERDPC handout Oct 11 2023 — 849 cultivation-authorized licenses as of 2023-09-30 (see cult_licenses_awarded breakdown) https://www.nmlegis.gov/handouts/ERDPC%20101123%20Item%201%20Cannabis%20Control%20Division.pdf
  46. ↑ 2025 NM Cannabis Market Supply & Demand Analysis Report (CPPC/CCD, June 2025): non-patient consumers source 61.10% of cannabis expenditures from the regulated market alone (88.9% from regulated + gray combined; survey n≈198) https://www.rld.nm.gov/cannabis/data-news/
  47. ↑ 2025 NM Cannabis Market Supply & Demand Analysis Report (CPPC/CCD, June 2025) https://www.rld.nm.gov/cannabis/data-news/
  48. ↑ 2025 NM Demand Study (CPPC/CCD, June 2025): flower retail price fell 61.92% (Apr 2022 $10.61/g to Feb 2025 $4.04/g); all major categories declining https://www.rld.nm.gov/cannabis/data-news/
  49. ↑ NM Cannabis Regulation Act §26-2C directs the division to promote full participation by communities disproportionately harmed by prohibition (≥50% participation goal); CCD Social Equity page https://www.rld.nm.gov/cannabis/cannabis-in-new-mexico/social-equity/
  50. ↑ NM Cannabis Regulation Act §26-2C (social & economic equity provisions; producer microbusiness and integrated microbusiness license types) and CCD Social Equity page https://www.rld.nm.gov/cannabis/cannabis-in-new-mexico/social-equity/
  51. ↑ NM Cannabis Regulation Act §26-2C establishes the cannabis regulation fund (operational), not a dedicated social-equity grant fund; NM has no statutory cannabis equity grant fund https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  52. ↑ [SECONDARY] Companion to the 2021 Cannabis Regulation Act (SB 2, 2021) created automatic expungement of cannabis convictions now legal under the Act. NORML; NM Administrative Office of the Courts https://norml.org/news/2021/04/15/new-mexico-adult-use-legalization-expungement-measures-signed-into-law/
  53. ↑ [SECONDARY] NM SB 2 (2021) provides for AUTOMATIC expungement of qualifying cannabis records (public records expunged two years after conviction/arrest) https://norml.org/blog/2021/04/12/new-mexico-governor-signs-marijuana-legalization-automatic-expungement-measures-into-law/
  54. ↑ [SECONDARY] NM Administrative Office of the Courts general counsel (Celina Jones), reported May 2023: 'we've already expunged 14,000 cases'; the Dept of Public Safety estimated 150,000+ residents eligible https://www.krqe.com/news/marijuana/cannabis-expungement-in-new-mexico-not-quite-automatic-for-everyone-after-new-law/
  55. ↑ CCD ERDPC handout Oct 11 2023 — 572 total inspections Jan-Sep 2023 (retail 409, producer 129, manufacturer 34); 2,777 violations found in the period. (9-month figure.) https://www.nmlegis.gov/handouts/ERDPC%20101123%20Item%201%20Cannabis%20Control%20Division.pdf
  56. ↑ CCD ERDPC handout Oct 11 2023 — 10 Notices of Contemplated Action issued as of 2023-09-30 (4 settlements, 2 pending hearings, 3 revoked licenses, 1 preliminary injunction granted) https://www.nmlegis.gov/handouts/ERDPC%20101123%20Item%201%20Cannabis%20Control%20Division.pdf
  57. ↑ [SECONDARY] NORML, New Mexico cannabis penalties — cultivation over the legal plant limit is a felony, escalating to a first-degree felony (up to 18 years, $15,000) for a subsequent offense (NM Controlled Substances Act) https://norml.org/laws/new-mexico-penalties-2/
  58. ↑ [SECONDARY] NM Controlled Substances Act (NMSA 30-31) governs unlicensed distribution; a no-remuneration transfer of up to 2 oz between adults 21+ is permitted under the Cannabis Regulation Act §26-2C-25 https://norml.org/laws/new-mexico-penalties-2/
  59. ↑ [SECONDARY] NORML, NM penalties — possession of 8 ounces (226.8 g) or more is a fourth-degree felony https://norml.org/laws/new-mexico-penalties-2/
  60. ↑ [SECONDARY] NORML — the felony threshold cited (8 oz) is for possession https://norml.org/laws/new-mexico-penalties-2/
  61. ↑ [SECONDARY] NORML, NM penalties — more than 2 oz to 8 oz is a misdemeanor (up to 364 days, up to $1,000); 8 oz or more is a fourth-degree felony (up to 18 months, up to $5,000) https://norml.org/laws/new-mexico-penalties-2/
  62. ↑ [SECONDARY] New Mexico has no per se THC limit and no zero-tolerance THC standard; cannabis DUI is charged on actual impairment under NMSA 1978 §66-8-102 https://norml.org/laws/drugged-driving/new-mexico-drugged-driving/
  63. ↑ NM Cannabis Regulation Act §26-2C and companion 2021 expungement law liberalized cannabis law; the 2025 CCD enforcement bureau targets the unlicensed market administratively, not via increased consumer penalties https://www.rld.nm.gov/wp-content/uploads/2023/08/ARTICLE-2C-Cannabis-Regulation-_-Chapter-26-Drugs-and-Cosmetics.pdf
  64. ↑ NM has moved lighter since 2021 (legal possession to 2 oz, home grow, automatic expungement) https://norml.org/laws/new-mexico-penalties-2/
  65. ↑ NM Cannabis Regulation Act (2021) + SB 2 (2021) automatic expungement; 2025 CCD enforcement-bureau funding (~$1.6M, 7 staff) targets the unlicensed commercial market https://www.krqe.com/news/new-mexico/new-mexico-regulation-and-licensing-department-seeks-funding-to-expand-cannabis-enforcement/
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