Rhode Island’s legal marijuana market brought in a combined $10 million in sales for November, according to the state’s Department of Business Regulation.
Adult-use marijuana dominated the market with $8.15 million, while medical marijuana sales totaled $1.85 million.
These figures contribute to a year-to-date sales total of $108,209,948, demonstrating steady growth in the state’s marijuana industry. The average transaction amount across all sales was $36.34, resulting in approximately 2,977,709 total transactions for the year.
Since the launch of recreational marijuana sales in late 2022, Rhode Island has witnessed significant demand. The state legalized recreational marijuana in 2021, allowing adults aged 21 and older to purchase up to an ounce of marijuana from licensed retailers and cultivate up to 12 plants for personal use.
Recreational sales are subject to a 10% excise tax, a 7% sales tax, and up to 3% in local taxes. Medical marijuana patients are exempt from the excise tax but still pay the standard sales tax.
Revenue generated from marijuana taxes goes to the legislature’s General Fund, the Social Equity Assistance Fund (which provides resources to communities disproportionately affected by prohibition), and split amongst the municipalities housing marijuana businesses.
