Ganjapreneur reports
Washington lawmakers are considering raising taxes on highly potent cannabis products, proposing a 50% tax rate for products containing between 35% and 60% THC and a 65% tax rate for products exceeding 60% THC.
A bill proposed in Washington state would significantly increase the tax on cannabis products depending on THC concentrations, FOX 13 reports. Under the proposal, cannabis excise taxes would be restructured into three rates based on product type and THC concentration.
The measure would also limit the purchase of high-THC products to individuals aged 25 and older.
Under the bill, a 37% tax would be imposed on flower and concentrate products with THC concentrations less than 35%; a 50% tax would be added to flower and concentrate products with THC levels between 35% and 60%; and a 65% tax would be included on the sales of flower and concentrates with THC levels higher than 60%.
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