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BudsKind802 t1_j32l0o1 wrote

Reply to comment by [deleted] in Location of future dispensary in Barre, VT. Excited to see new businesses opening up in the the area. by aschylus

There's a 14% excise tax by the state, which made nearly $330k in the first month of legal sales. That money first goes to the VT cannabis control board's budget to backfill costs. After that, 70% goes to the state general fund and 30% goes to substance misuse and prevention.

The VT standard 6% sales tax also made $144k in the first month. That goes to afterschool and summer learning programs.

> lower our income and property tax rates

Property tax is town-based, so a town could add an extra 1% tax to be able to fund some taxes and potential tax relief, but based on the current sales numbers they'd only be making a few thousand for their towns per month.

As far as property tax relief, that's going to be a no. It's a different "bucket" than the general fund.

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VeniYanCari t1_j374ugz wrote

Somebody told me the state vape tax, in addition to the excise and sales taxes, also applies to THC cartridges and whatnot. Anybody know if that’s true?

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Loudergood t1_j32r7c0 wrote

To note, in my small town we usually have multiple ballot items asking for a few thousand for some public service or another

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whaletacochamp t1_j32spvy wrote

Depending where you are in grand isle county I’d be surprised if a 1% sales tax on a dispensary in your town would even bring in a few thousand.

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Loudergood t1_j32v5ih wrote

The summer factor is really key.

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whaletacochamp t1_j32wafx wrote

For sure, but a single dispensary in your town would have to do $300k in sales to get $3000, that’s a lot of sales to cram into 4 months. Definitely not impossible, but I’d bet most full time residents that smoke regularly have their own connection or grow their own. So you’re really relying only on tourists.

South hero is probably the only town where this would stand a chance. Honestly would be a brilliant idea to open one next to that bait shop on Rt 2 headed to the islands. 99% of tourists headed to the islands via VT have to drive that road plus most of the dudes buying bait smoke too. Hmmmmm

BUT, that’s not a grand isle town!

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