There was roughly $11 million in legal marijuana and marijuana products sold in Vermont in March.
According to the Vermont Department of Taxes, there was $10.98 million in legal marijuana sales in March, bringing the yearly total to $32 million. Marijuana sales brought in $1.54 million in tax revenue for March, and around $4.5 million for the year.
The only month in Vermont with more legal marijuana sales is December 2023, with $11.10 million, with $1.55 million in taxes garnered.
Vermont legalized recreational marijuana in January 2018, making it the first state to do so through a legislative process rather than a ballot initiative. Under the law, adults aged 21 and over can possess up to one ounce of marijuana and cultivate up to two mature and four immature cannabis plants per household.
The 2018 law did not permit the commercial sale of cannabis; instead, it focuses 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 his signature, with the market opening in 2022. Taxes on legal marijuana includes a 14% excise tax on retail sales, in addition to the state’s standard 6% sales tax.
Vermont’s medical marijuana law, enacted in 2004, allows patients with qualifying medical conditions to possess and use cannabis for therapeutic purposes. The law allows patients to purchase marijuana and marijuana products tax free.
