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October 12, 2023

Cannabis tax revenues dip slightly in August, top $8.8M for year

Courtesy photo Customers make their first purchases at the Zen Leaf Meriden dispensary on Jan. 10, the day adult-use cannabis sales launched.

Monthly tax collections for the state’s adult-use cannabis market dipped a bit in August, according to new data from the state, despite sales increasing from the previous month.

Connecticut collected about $1.3 million in tax revenue from adult-use cannabis sales in August, down from about $1.4 million in July, according to new data from the state Department of Revenue Services. This represents the first monthly dip in tax revenues since adult-use sales began Jan. 10.

During the first eight months of operation, the state has collected more than $8.8 million in tax revenue from the adult-use cannabis market, DRS data shows.

Tax collection data for September won’t be available until the end of October. Each adult-use cannabis purchase carries a 6.35% state sales tax, 3% municipal tax, and between 10% to 15% of additional state cannabis tax based on THC content.

Earlier this week, the state Department of Consumer Protection announced that Connecticut recreational cannabis industry sales hit a new monthly high in September of more than $14.3 million.

Overall, adult-use sales have now exceeded $97 million through nine months.

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