CannabisNews420.com – Cannabis/Marijuana Industry News

Read the full article at

https://qz.com/1595906/how-much-tax-do-marijuana-businesses-pay/

Here’s a chart Quartz compiled

State Grower tax, flower Grower tax, trim Excise and sales taxes
Alaska $50/oz $15/oz By locality
California $9.25/oz $2.75/oz By locality
Colorado None None 15% on sales from grower to retailer; 15% on retail sales
Massachusetts None None 10.75% state excise tax; local sales tax capped at 3%
Nevada None None 15% on sales from grower to retailer; 10% on retail sales
Oregon None None 17% state excise tax; local sales tax capped at 3%
Washington State None None 37% state sales tax

According to the Tax Policy Center, a partnership between the Urban Institute and the Brookings Institution, states with marijuana taxes put a portion of the funds toward the following:

  • Alaska steers 50% of its cannabis revenues to its general fund, and 50% to crime reduction programs.
  • California uses its cannabis revenues for administrative costs related to legalization, with extra funds going toward economic development, academic studies, and youth programs.
  • Colorado earmarks its cannabis revenues for education.
  • Massachusetts pays for various public safety programs with the cannabis taxes it collects.
  • Nevada uses its cannabis revenues for education programs and to supplement its rainy day fund.
  • Oregon finances education and drug treatment-and-prevention programs with its cannabis revenues, with some going to local governments.
  • Washington State uses its cannabis revenues for healthcare.



Original Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here