In March there was $8.7 million in legal marijuana and marijuana products sold in Rhode Island, according to data released by the state’s Department of Business Regulations.
In March there was $5,381,556.56 in recreational marijuana sold at licensed retail outlets. This is in addition to the $3,359,873.02 in medical marijuana sold during the same period. In terms of recreational marijuana sales, the numbers for March are the highest since the start of legal sales in December.
The total legal marijuana sales in Rhode Island Between December 1, 2022 (the start of legal sales) and March 31, 2023 is $30,965,333.
Under Rhode Island’s marijuana law, initially passed in July, 2021, marijuana receives a 10% excise tax which is in addition to the 7% statewide sales tax and a local tax of up to 3%. Medical marijuana patients are required to pay the 7% sales tax, but not the 10% excise tax.
Based on these numbers Rhode Island has made around $4 million in marijuana tax revenue over the past four months, not counting local taxes.
The average cost per transaction at Rhode Island marijuana stores in March was $30.07, nearly identical to the $30.61 average in February.
In Rhode Island those 21 and older are allowed to purchase, posses and consume up to an ounce of marijuana, and they can grow up to 12 plants for personal use.
More information on Rhode Island’s legal marijuana program can be found by clicking here.
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