Connecticut marijuana sales saw an uptick from September to October, rising to just above $24 million.
According to the Connecticut Department of Revenue Services, there was $24,055,147 worth of marijuana and marijuana products sold legally in October, a slight jump from the $23,445,921 sold in September. October’s sales are similar to the $24.8 million sold October of last year.
Total marijuana sales for 2024 now stand at around $250 million, bringing the all-time total to around $550 million. In 2023, the yearly total reached $274 million.
In October, make sales were split as follows:
- $17,269,221 in recreational marijuana
- $6,785,926 in medical marijuana
Connecticut legalized marijuana in 2021, with the first store opening in January 2023. Adults 21 and older are permitted to possess up to 1.5 ounces of marijuana in public and up to 5 ounces in a locked container. They may also grow up to six plants for personal use, with a limit of three mature plants. Marijuana and related products are available through licensed retail outlets and dispensaries.
Recreational marijuana sales are subject to a 6.35% state sales tax, along with an excise tax based on THC content:
- Cannabis flower/plant material: $0.00625 per milligram of THC
- Edible cannabis products: $0.0275 per milligram of THC
- Other cannabis products: $0.009 per milligram of THC
The tax revenue from marijuana sales is distributed as follows:
- Social Equity and Innovation Fund: 60% of the excise tax revenue goes to this fund to support communities disproportionately affected by the war on drugs, promoting social equity within and beyond the cannabis industry.
- Substance Abuse Treatment and Prevention: 25% of the revenue is allocated to programs addressing substance abuse treatment and prevention to mitigate public health impacts.
- General Fund: The remaining 15% is directed to the state’s General Fund, supporting various state operations and services.
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