There was just shy of $12 million in legal marijuana sold in Vermont in October.
Data released by the Vermont Department of Taxes shows that there was $11.86 million in total marijuana sales in October, garnering the state $1.66 million in taxes. Sales were slightly less than, but roughly on par with, the $12.06 million sold in September.
For 2024, marijuana sales now stand at $116 million, with all-time sales just shy of $250 million.
Vermont legalized marijuana in 2018, making them the first state to legalize recreational marijuana via their state legislature (rather than through the initiative process). The law allows those 21 and older to possess up to one ounce of marijuana, and grow up to two mature and four immature marijuana plants for personal use.
The 2018 law did not allow commercial marijuana sales, but in 2020, the state legislature approved a bill to regulate and tax recreational marijuana sales. Governor Phil Scott allowed the bill to become law without signing it. The legal market launched in 2022, with retail marijuana sales subject to a 14% excise tax and the state’s 6% sales tax.
Revenue from the excise tax is divided, with 30% allocated to substance abuse prevention programs and 70% directed to the state’s General Fund.
