Vermont’s Cannabis Control Board estimates that spending on adult-use cannabis in Vermont could reach $225 million annually by 2025, which would translate to nearly $46 million in new state taxes.
The figures are just some of the news from a highly anticipated report the board released last Friday. The 64-page document lays the groundwork for state regulation of a legal market starting next year. The board is proposing rules and fees, subject to legislative approval, for those who will grow, process, test, and sell the weed.
The report was filed to several House and Senate committees that may hear testimony in the next several weeks, before the full legislature reconvenes in January, said James Pepper, chair of the Cannabis Control Board.
There is a reason to hurry: The rules must be in place in time for Vermont’s medical cannabis dispensaries to begin selling adult-use cannabis by the May time frame established in previous legislation. That is also when small growers, defined as operations with 1,000 square feet or less, could get their licenses and start planting.
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