Forbes: “When Congress banned marijuana in 1937, it did so in the guise of taxation, imposing a prohibitive levy on cannabis and created criminal penalties for those who failed to pay it. Marijuana taxes also played a prominent role in what may be the beginning of the end for pot prohibition: the legalization measures that voters in Colorado and Washington approved last fall . . . . The dilemma is especially clear in Washington, where I-502 specified a 25 percent excise tax at three levels: sales between producers and processors, between processors and retailers, and between retailers and consumers. That’s in addition to the standard state sales tax of 8.75 percent.”
High Marijuana Taxes Could Derail Legalization Plans
By On the Net|2013-11-15T19:32:31-07:00October 17th, 2013|Stories & Articles, Tax Issues|Comments Off on High Marijuana Taxes Could Derail Legalization Plans
About the Author: On the Net
The author of this article is
Richard Keyt, an Arizona business law attorney who is the creator of this Arizona medical marijuana law website. Connect with Richard at 480-664-7478 or on Google+