Vermont has launched three shops to the public for adult-use cannabis sales. Mountain Girl Cannabis in Rutland, FLŌRA Cannabis in Middlebury, and Ceres in Burlington are the first three adult-use cannabis stores to open in Vermont.
Retail cannabis sales in Vermont kicked off over the first weekend of October, with at least 70 municipalities permitting sales within their boundaries.
Dispensaries in the state are allowed to sell products to anyone over the age of 21, and while there is no official tally of how much cannabis has been sold thus far, dispensaries are reporting high demand.
Russ Todia, the chief operating officer at Ceres, told MyNBC5 that the rollout of adult-use sales in the state was “real monumental for the state” and for his company.
The Vermont Cannabis Control Board released a report in October 2021 estimating that spending on adult-use cannabis in Vermont could reach $225 million annually by 2025. This would equate to nearly $46 million in new state taxes. Although Vermont imposes a 14% excise tax on adult-use cannabis products sold to the public, it does not impose a tax on the sale from cultivator to retail. Municipalities can also impose a 6% tax on sales that occur within their jurisdiction.
Cannabis is now legal for adult use in Rhode Island after lawmakers approved a bill to that effect in January. This makes New Hampshire the only New England state to not have approved adult-use cannabis reforms. The move is expected to bring in millions of dollars in tax revenue for the state and create new jobs in the cannabis industry.
Join us on NECANN to stay up-to-date with the latest cannabis news and information!