Vermont

Market Map

Vermont
Cannabis Market

Vermont Cannabis Market At-A-Glance

Overall Rating: C

Vermont was the 11th state to legalize recreational cannabis in 2018, although adult-use dispensaries aren’t slated to open until October 2022. (vtdigger.org) The state’s existing medical cannabis dispensaries will hopefully be able to begin selling recreationally in 2022. The Vermont cannabis market will add to the Northeast US “cannabis boom.”

Medical Use: Yes

Adult Use: Yes, limited

Market Potential

C-

The Vermont cannabis market is going to be very small and licensing is going to be extremely limited.

Licensing

The first recreational licenses will go to existing medical dispensaries, but the second round will go to those who are just getting into the adult-use market.

Competition

There is limited product inventory and only a few dispensaries.

Tax/Regulatory Structure

There is a combined tax rate that is low compared to other legalized states.

Vermont Cannabis Details

Population (Rank)

623,000

#49

Size/Density

17.36 sq. miles

#30

Medical Cannabis?

Yes

2004

Adult-Use Cannabis?

Yes, limited

2018

2020 Medical Sales

2022 Projected Medical Sales

$22,000,000

$44,000,000

100%

2020 Adult Use Sales

2022 Projected Adult Use Sales

$64,000,000

100+

Regulatory Agency

Marijuana Commision of Vermont, Vermont Department of Public Safety

https://www.marijuanacommision.vermont.gov

# of Dispensaries (allowed/issued)

# of Cultivators (allowed/issued)

NA – Encompassed by dispensary

# of Manufacturers (allowed/issued)

NA – Encompassed by dispensary

# of Testing Labs (allowed/issued)

Vertical Integration?

Allowed – there is currently only one cannabis license called a “dispensary” this license not only allows Vermonters to sell cannabis, it also allows them to manufacture and grow as well. Dispensaries are allowed to sell and/or give product to one another, as long as the possession limits are maintained

Residency Requirements?

Yes

Social Equity?

No – Currently in review

Cannabis Taxes

Combined Tax Rate

20%

Excise Tax

14%

Retail Sales Tax

None

Local Sales Tax

None

State Sales Tax

Cultivation Tax

None

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

Initial Dispensary

$20,000

Renewal Dispensary Registration Fee

$25,000

Application Fees

Dispensary Application Fee

$2,500

Registered Caregiver Application Fee

$50

Patient Application Fee

$50

Patient or Caregiver Change of Information form Processing Fee

$250

10/09/2021

Market Map

Vermont Cannabis Market At-A-Glance

Vermont Cannabis Details

Cannabis Taxes

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

Application Fees

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