Adult-use marijuana sales have yet to launch in Minnesota, but state lawmakers are already proposing a tax hike.
A recently announced budget agreement would raise the gross receipts tax from 10% on sales at licensed businesses to 15%, according to CBS News Minnesota.
ADVERTISEMENT
Minnesota legalized adult-use marijuana in 2023, but sales may not launch until next year.
In the meantime, lawmakers have a sizable projected budget deficit to close.
The tax increase would be on top of the state sales tax rate of 6.975% and any local sales taxes.
The tax would also apply to hemp-derived THC edibles such as the beverages sold at liquor stores and other non-cannabis retailers.
If approved, the increase would make Minnesota’s taxes higher than neighboring states
Read full article on Marijuana Business Daily
