In Rhode Island, December marked the fifth month this year with sales above $10 million.
The Rhode Island Department of Business Regulation reports that legal marijuana sales in December totaled $10.11 million, with $8.32 million attributed to recreational sales and $1.79 million to medical marijuana.
December’s figures bring the 2024 total to $118,321,577 across 3.2 million transactions.
Since recreational marijuana sales began in late 2022, demand has remained robust. Rhode Island legalized recreational marijuana in 2021, permitting adults 21 and older to buy up to an ounce from licensed retailers and grow up to 12 plants for personal use.
Recreational marijuana sales are taxed at a combined rate, including a 10% excise tax, a 7% state sales tax, and up to 3% in local taxes. Medical marijuana patients are exempt from the excise tax but still pay the state sales tax.
Revenue from marijuana taxes is allocated to the legislature’s General Fund, the Social Equity Assistance Fund (supporting communities disproportionately impacted by prohibition), and shared with municipalities hosting marijuana businesses.
