Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House Appropriations Committee hears JFO on cannabis tax revenue and allocations
Summary
The Joint Fiscal Office told the House Appropriations Committee that Vermont's retail cannabis taxes are forecast to generate about $23.6 million in excise revenue and $10.1 million in sales tax in FY27, with 70% of excise tax routed to the general fund and 30% to a substance-misuse prevention fund; JFO also flagged a multi-million-dollar gap between regulator fees and the Cannabis Control Board's budget request.
The House Appropriations Committee on April 1 heard a Joint Fiscal Office briefing on Vermont's retail cannabis tax collections, forecasts for fiscal year 2027, and how proceeds are being allocated across state funds.
Tab Barnett of the Joint Fiscal Office told committee members that the January consensus forecast estimates about $23,600,000 in cannabis excise tax revenue and about $10,100,000 in sales tax for FY27. "Vermont has two taxes on retail cannabis: one is a 14% cannabis excise tax and a 6% sales tax," Barnett said, adding that a 1% local-option sales tax also applies where adopted.
The forecast and revenue-tracker data give the committee a sense of the size and stability of the market: Barnett estimated retail sales at roughly $160 million…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
