Massachusetts licensed marijuana establishments are expected to open for business on July 1, 2018

Legislation enacted in 2017, known as “An Act to Ensure Safe Access to Marijuana,” provides for the licensing of marijuana establishments and retail sale of adult use marijuana within the Commonwealth. Licensed marijuana establishments are expected to open for business on July 1, 2018. The sale of marijuana and marijuana products will be subject to sales and use tax, marijuana excise, and local option taxes. The Commissioner intends to promulgate regulations to clarify the collection, filing, and payment responsibilities of marijuana businesses for these taxes.

States that legalized marijuana on Election Day

States that legalized marijuana on Election Day

On Nov 8, eight states legalized marijuana for either medical or recreational marijuana. California, Maine, Massachusetts, and Nevada showed up to support recreational marijuana, while Arkansas, Florida, and North Dakota legalized medical marijuana. According to the Marijuana Business Daily legal marijuana market will hit $20 billion in revenue by 2020,

Simplify excise tax compliance all over the U.S. with AviorData automated sales tax software. Learn how it works.

New York State Imposes Marijuana Excise Tax

New York State Imposes Marijuana Excise Tax

New York state announced excise tax on medical marijuana starting Jan 1 2016.

The imposed excise tax is seven percent (7%) on the gross receipts from the sale of medical marijuana. Every NY medical marijuana registered organization must now electronically file a monthly medical marijuana excise tax return. The first marijuana excise tax return is due on Feb 22, 2016.

Subscribe to RSS - Marijuana Tax