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.
