Adult use cannabis sales started in Vermont on October 1st at three dispensaries. Since then, marijuana stores have grown in number, and so has the tax revenue collected by the state. Data for first the month of sales released by Vermont’s Department of Taxes indicate that $2.6 million dollars of cannabis was sold to consumers. The report disclosed that $329,231 was collected from the 14% excise tax on cannabis purchases. This puts Vermont on track to hit their projection to collect $2 million dollars in excise tax by July 1, 2023.
Officials hope to see the numbers increase as more cannabis establishments are given authorization to open their doors. Another report should be available in January that will outline the cannabis tax revenue collected during the month of November. Vermont was the third New England state to launch adult-use cannabis sales.
Find the full story from Seven Days VT on their website here: https://www.sevendaysvt.com/vermont/vermont-cannabis-sales-totaled-26-million-during-first-month/
Additional information on this story from Heady Vermont is available here: https://headyvermont.com/2022/12/21/vermont-cannabis-retail-sales-totaled-2-6-million-in-october/
