Yesterday, Vermont became the 11th state to legalize recreational marijuana sales and the second to do so via legislation (Illinois was the first in 2019). The State House of Representatives and State Senate previously approved a compromise bill legalizing marijuana sales and establishing a framework to regulate it, as we wrote about here.
Read MoreWhile possessing and growing small amounts of marijuana has been legal in Vermont since 2018, it is still illegal to sell marijuana. A legal retail market may be on the horizon though, as the State House of Representatives and State Senate have approved a compromise bill that would legalize marijuana sales. The bill sets up a new Cannabis Control Board that would be responsible for regulating the cannabis market, including issuing licenses. Under the bill, cannabis products would be charged a 14% excise tax in addition to the state’s standard 6% sales tax.
Read MoreThe news for legalization proponents has been consistently good for the past several years, but recent developments in the Northeast should perhaps take the optimism down a notch. Recreational legalization proposals in the deep-blue states of New York, New Jersey, and Vermont all appear destined to fail in 2019, raising new questions regarding the path forward for recreational use.
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