Marijuana Business News

Minnesota Cannabis tax goes into effect July 1st

Posted June 28, 2023 on KVRR

MOORHEAD - Minnesota cannabis retailers will soon charge a ten percent cannabis tax.

It begins July 1st and currently only edible cannabinoid products and nonintoxicating topical products are legal to sell.

The state sales tax at just under seven percent and any local sales taxes will also apply to cannabis.

Vendors are letting people know about the tax hike in advance in case they want to stock up on products.

“Currently, there’s no tax here in Moorhead, or Minnesota. So, if you’re buying a $20 product, you’re paying exactly $20. As of Saturday, that will go up almost 18%. So, if you’re looking to buy that into the future, now would be the time to get it at somewhat of a discount so to speak,” said Nate Haugen of Junkyard Brewing Company.

Those with a medical card are exempt from paying the cannabis tax.