Results Are In: Who Pays the Most in Cannabis Taxes?
Currently, there are 11 states that allow legal recreational use.
While this is a huge win, many cultivators and customers know that this victory comes with a price.
According to the Tax Policy Center, nine of the legal states are required under federal law to administer taxes based on percentage of retail or wholesale price, weight, and the drug’s potency.
If you live in Alaska, California, Colorado, Illinois, Massachusetts, Michigan, Nevada, Oregon, or Washington, these are the types of taxes that you’ll be seeing.
Check out the graphic here, courtesy of Certified Public Accountant and author of Cost Accounting for Dummies Ken Boyd, discusses why cannabis is being taxed and highlights the biggest contenders for the highest revenue.
What do you think of the government’s reaction to cannabis?
