Vermont Cannabis Sales Reach $10.94 Million in April

LOS ANGELES- According to the Vermont Department of Taxes, legal cannabis sales in April totaled $10.94 million, contributing to a yearly total of approximately $45 million. Cannabis sales generated $1.53 million in tax revenue for April and around $6 million for the year.

Although April’s sales slightly declined from March’s $11.31 million, they were still nearly $3 million higher than the previous April.

Vermont legalized recreational cannabis in January 2018, becoming 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 cannabis and cultivate up to two mature and four immature cannabis plants per household.

The 2018 law did not authorize commercial sales of cannabis; it focused on personal cultivation and possession. In 2020, the Vermont legislature passed a bill to regulate and tax the sale of recreational cannabis, which Governor Phil Scott allowed to become law without his signature. The commercial market opened in 2022, with taxes on legal cannabis including a 14% excise tax on retail sales, in addition to the state’s standard 6% sales tax.

Vermont’s medical cannabis law, enacted in 2004, allows patients with qualifying medical conditions to possess and use cannabis for therapeutic purposes. Additionally, the law permits these patients to purchase cannabis and cannabis products tax-free.