For the second month in a row, Vermont has broken its record for legal marijuana sales.
(Photo credit: Peter Kim/Fotolia)
In August, legal outlets sold $12.87 million worth of marijuana and marijuana products, according to the state’s Department of Taxes, generating $1.80 million in tax revenue.
This marks a slight increase from the previous record of $12.27 million in July. Before that, May’s sales set a record at $11.45 million.
So far this year, Vermont’s marijuana sales have exceeded $90 million, resulting in over $12 million in tax revenue. All-time sales are now around $200 million.
Vermont legalized recreational marijuana in January 2018, becoming the first state to do so through its legislature rather than a voter-approved initiative. The law allows adults aged 21 and over to possess up to one ounce of marijuana and grow up to two mature and four immature cannabis plants per household.
While the 2018 law did not permit commercial sales, it focused on personal cultivation and possession. In 2020, the Vermont legislature passed a bill to regulate and tax the sale of recreational marijuana, which Governor Phil Scott allowed to become law without signing. The legal market launched in 2022, imposing a 14% excise tax on retail marijuana sales, in addition to the state’s 6% sales tax.
Of the excise tax revenue, 30% is designated for substance abuse prevention programs, while the remaining 70% goes into the state’s General Fund.
