Rhode Island hashish dispensaries collectively offered greater than $1.63 million value of hashish in the course of the state’s first week of adult-use gross sales, WPRI reviews.
The hashish gross sales complete covers about $786,000 value of adult-use hashish and $845,400 value of medical hashish. The state can anticipate roughly $133,600 in hashish taxes from the primary week with about $23,500 in taxes going to the native governments which host the retailers — adult-use hashish gross sales within the state are taxed at 20% whereas medical gross sales are solely subjected to the state’s 7% gross sales tax.
For comparability, the state recorded simply over $1 million value of medical hashish gross sales over the past week of October.
Along with the December 1 launch of adult-use gross sales, Rhode Island has additionally stopped charging charges for medical hashish sufferers to register or renew their registration for this system. The state can also be anticipating decrease income as a result of lack of cannabis-based courtroom charges following the mass expungement of hashish possession expenses. In complete, the state’s Workplace of Administration and Price range mentioned it expects to internet simply $368,000 after bills from this fiscal yr’s anticipated $5.9 million in hashish tax income.
Rhode Island turned the nineteenth U.S. state to legalize adult-use hashish earlier this yr. Underneath the measure, adults 21 and older are allowed to buy and possess as much as an oz. of hashish, maintain as much as 10 ounces of hashish at house, and home-grow as much as six hashish crops.
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