Indopedia All Things Marijuana
Elevated taxes announced for legal marijuana in Massachusetts.
On Monday, Massachusetts’ lawmakers rolled out their proposed tax plan for the sale of legal marijuana in the Codfish State. Significantly less than the 56 percent tax plan first threatened by policy makers in June, the total tax rate under the new proposal could still hit 20 percent.
Question 4 was initially drafted, proposed, and passed last November based on a framework of a 12 percent tax rate – and won with 53.6% of the vote.
Now rewritten twice, the clandestine deal struck behind closed doors will break down something like this: local municipalities will have the option of assessing a 3% tax on any future recreational marijuana sales; the state will collect a 6.25% sales tax and a 10.75% excise tax will be assessed on all marijuana sales. The “medical use of marijuana” will not be taxed.
Able to opt out of legal sales until December 31, 2019 – those communities that voted against legalization in November 2016 will be mandated to hold a voter referendum on the issue, according to Mass Live.
“Under the deal announced Monday, Massachusetts communities that voted in November against the…
