Rhode Island

Market Map

Rhode Island
Cannabis Market

Rhode Island Cannabis Market At-A-Glance

Overall Rating: B+

The Rhode Island cannabis market has seen a conservative approach compared to most nearby states like Massachusetts. In June 2021, the Senate passed a bill for recreational legalization in the state. The Rhode Island market hopes to legalize adult-use cannabis during the Fall of 2021. The current medical market is rather limited.

Medical Use: Yes

Adult Use: No

Market Potential

B+

Rhode Island is in the process of reviewing applications for 11 new dispensaries, so there is going to be an increase in market potential for this state.

Licensing

Licensing is inexpensive compared to most other states.

Competition

Competition is rather low, but when the new states begin operation, competition is expected to increase.

Tax/Regulatory Structure

B+

Low state tax and monthly tax.

Rhode Island Cannabis Details

Population (Rank)

1,056,298

#44

Size/Density

1,020.5 sq. miles

Medical Cannabis?

Yes

2006

Adult-Use Cannabis?

2020 Medical Sales

2022 Projected Medical Sales

$80,000,000

$69,000,000

-14%

2020 Adult Use Sales

2022 Projected Adult Use Sales

$122,000,000

Regulatory Agency

Rhode Island Department of Health

https://health.ri.gov

# of Dispensaries (allowed/issued)

# of Cultivators (allowed/issued)

No limit

# of Manufacturers (allowed/issued)

Encompassed by compassion centers

# of Testing Labs (allowed/issued)

Not a cannabis licensing type

Vertical Integration?

Yes

Residency Requirements?

Required

Social Equity?

Cannabis Taxes

Combined Tax Rate

11%

Excise Tax

Retail Sales Tax

Local Sales Tax

State Sales Tax

4% surcharge monthly basis

Licensing Fees (per year)
^{*Varies based on gross revenue}

Application Fees

Compassion Center

$250

13/09/2021