A Republican lawmaker in Montana is seeking to eliminate sales taxes on medical marijuana, a move that could breathe life into the state’s struggling MMJ market.
The dwindling number of MMJ patients in Montana currently pay a 4% state sales tax as well as a 3% local tax in certain jurisdictions.
But both would be eliminated if House Bill 420 becomes law.
The measure was introduced Wednesday by state Rep. Mike Hopkins, a Missoula Republican.
Hopkins wants to cut the MMJ tax because adult-use cannabis sales generate adequate tax revenue, the Helena Independent Record reported,
Montana recorded $48.5 million in adult-use tax revenue on $230 million worth of sales since the legal market launched in January 2022.
The state levies a 20% excise tax on adult-use sales, and localities may add an additional 3% tax.
In the year since adult-use
Read full article on Marijuana Business Daily