What to know: Marijuana legal on Thursday

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LANSING, Mich. (WILX) -- Marijuana becomes officially legal in Michigan on Thursday.

That doesn't mean everyone can start buying, growing and using marijuana, though.

Although it has been decriminalized, consumers might not be able to purchase it for another year, while state legislators and businesses sort out the licensing process.

Under the new law, adults 21 years old and older will be allowed to possess and consume marijuana, as well as being allowed to grow up to 12 plants at home.

Here's what it'll mean for most Michiganders.

"In addition to the standard 6 percent state sales tax, Proposal 1 will establish a 10 percent excise tax on retail marijuana sales," according to regulatemi.org.

The Michigan Senate Fiscal Agency states that marijuana sales will generate $738 million in new revenue by 2023, according to its projection model.

There are about 50 active medical marijuana grower facilities, 14 medical marijuana processor facilities and 10 provisioning centers in Lansing, according to the Medical Marihuana Applications listing by the city of Lansing, as of Monday, Dec. 3.

This story is still being updated. Check back for more details.