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If you make retail sales of adult-use cannabis products, a retail tax of 13% on the amount charged for the sale or transfer is imposed.
Source: https://wibx950.com/ixp/11/p/new-york-state-marijuana-tax-increase/
Ohio presents a fresh and promising landscape with the recent legalization of adult-use cannabis.
On Monday, Gov. Ned Lamont making various changes to Connecticut’s laws around adult-use cannabis, hemp and medical marijuana.
Source: https://ctmirror.org/2023/07/01/ct-growing-at-home-marijuana-recreational-cannabis/
Several other states are building strong momentum to legalize adult-use cannabis in 2023, including Minnesota, New Hampshire, and Ohio.
The impact of adult-use legalization is broad: The change could affect workplace policies, traffic safety and other issues, according to a 2021 analysis from Pennsylvania’s Independent Fiscal Office.
The question was so prevalent in the community that the Attorney General issued a press release, stating, in part, “Since election day, a common question has been whether or not the referendum automatically legalized adult-use marijuana.
There’s also a bill legalizing adult-use recreational cannabis and levying a tax of up to 10 percent.
This led to a saturated market, causing a steep drop in adult-use cannabis prices in Massachusetts and other states.
Source: https://investorplace.com/2023/06/from-hero-to-zero-3-cannabis-stocks-to-avoid-like-the-plague/
This sales tax, if approved, would impose a 3 percent sales tax on all retail sales of adult-use marijuana sold in Vernon County.
“This vote presents a tremendous opportunity for the state where legal adult-use sales are projected to exceed $1 billion annually,” Policy Director Rodney Holcombe said in a statement.
Source: https://www.insurancejournal.com/news/midwest/2023/11/09/747635.htm