In January, licensed marijuana stores in Connecticut sold $23,585,404 worth of marijuana and marijuana products.
According to data released today by the Connecticut Department of Consumer Protection, there was $17,218,699 in recreational marijuana sold in December in addition to $6,366,705 worth of medical marijuana. The combined $23,585,404 marks a slight decrease from the record-breaking $25.4 million sold in December, but still marks a solid start to the year.
Connecticut legalized marijuana in 2021, and retail sales began in January 2023. Adults 21 and older may possess up to 1.5 ounces in public and store up to 5 ounces in a secured space. Home cultivation is allowed, with a household limit of six plants, of which up to three can be mature. Marijuana and related products are available through licensed retailers and dispensaries.
Recreational sales are taxed at a 6.35% state sales tax, along with an excise tax based on THC content. The excise tax applies at rates of $0.00625 per milligram for cannabis flower and plant material, $0.0275 per milligram for edibles, and $0.009 per milligram for other cannabis products.
Revenue from marijuana taxes is distributed among three primary areas. The Social Equity and Innovation Fund receives 60% of excise tax revenue to support communities disproportionately affected by the war on drugs and promote equity in the cannabis industry. Another 25% goes toward substance abuse treatment and prevention efforts, while the remaining 15% is allocated to the state’s General Fund to support various government services and operations.
