For the first time ever legal marijuana sales passed $10 million in a single month in Rhode Island.
There was exactly $10,216,190 worth of marijuana and marijuana products sold legally in December, the most in any single month in Rhode Island history. This is according to data compiled and released by the Rhode Island Department of Business Regulations.
Of the $10.2 million in marijuana sold, $2,409,314 was purchased by medical marijuana patients, while $7,806,876 was purchased by recreational consumers.
The average sales receipt per marijuana-related transaction was $26.12, a $0.58 decrease from November’s average.
The yearly total for 2023 was $107,816,615, resulting in around $15 million in tax revenue.
Outside of December, the top month for marijuana sales in 2023 was August with $9.67 million, followed by September with $9.63 million.
Rhode Island’s recreational marijuana law was passed in 2021. The law allows those 21 and older to purchase up to an ounce of marijuana from a licensed retail outlet, and they can grow up to 12 plants for personal use. Marijuana receives a 10% excise tax which is in addition to the 7% statewide sales tax and a local tax of up to 3%. Medical marijuana patients are required to pay the 7% sales tax, but not the 10% excise tax.
At the end of October the Rhode Island Cannabis Control Commission (CCC), which oversees licensing and regulations for the marijuana industry, officially launched its new website. The website gives details on the commission including detailing its meetings and its commissioners.
