Vermont Cannabis Sales Hit Record High Of $6.5 Million In February, State Data Shows
MONTPELIER — Vermont dispensaries sold nearly $6.5 million worth of cannabis products in February of this year, according to a monthly revenue report released last week by the state’s Agency of Administration.
February sales, which totaled $6,477,957, were the highest in Vermont to date. There was a slight uptick in rate of sales growth, around 6.9% from January to February, compared to 6.2% in the previous months of December to January.
The state’s mandatory 14% cannabis excise tax, which must be applied to all adult use cannabis purchases at retailers, brought in $906,914 in February. An additional 6% state sales tax, which must also be leveraged on cannabis products, generated another $388,677.
To date, cannabis retailers in Vermont have sold $24,404,171 worth of cannabis products and collected $3,416,584 in excise tax since the state’s adult use market saw a modest launch last fall, with just three Vermont dispensaries licensed and open on October 1.
Since October, that number has increased to nearly 50 retail establishments, with 52 Vermont dispensaries currently approved for licensure as of last week’s monthly meeting.
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