Massachusetts Will Have Some Of The Lowest Marijuana Taxes In The US
Massachusetts is in position to establish one of the lowest consumer tax rates on recreational marijuana in the country.
This November, Massachusetts voters will decide whether to legalize recreational marijuana for adults 21 and over.
The initiative, Question 4, would assign a 3.75 percent excise tax on recreational marijuana products.
When combined with the state’s standard sales tax, the total tax rate for consumers would be just 10 percent.
This rate is extremely low compared to the 37 percent tax on all marijuana sales in Washington State and Oregon’s 25 percent tax on such products.
Jim Borehesani, spokesperson for the Campaign to Regulate Marijuana Like Alcohol In Massachusetts, told Boston.com that the low tax rate was designed to prevent consumers from buying marijuana on the black market to avoid the higher prices of dispensaries.
He said:
“We want the tax to be low enough to be able to
...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
Follow us on Instagram
Connect with us on Linkedin