Vermont brings in over $1 million in cannabis tax revenue
Vermont is a small state, but their cannabis industry is growing fast and bringing in lots of tax revenue over the past few months. According to reporting from WCAX, the most recent data shows that the state collected roughly $800,000 in cannabis tax revenue in December, bringing the total taxes collected in the first three months to about $1.6 million dollars. Recreational sales of cannabis started October 1st with just a handful of dispensaries ready to open. Now there are over 40 different shops in the state where adults age 21 years and older can buy cannabis. Vermont expects cannabis excise taxes to bring in $16 million in the first fiscal year of adult-use sales. Officials say they are likely to hit this figure based on the data from the first few months of sales.