Do you suspect that NY's coming recreational weed will be the nations worst quality AND the highest priced???
Of course it will with a 13% sales tax AND an excise tax that growers will pay when they sell their weed and that an edible or concentrate maker will pay when they sell their product.
“The deal that legislative leaders brokered with Cuomo (D) calls for a 13% sales tax, 9% of which would go to the state and 4% to the localities, Krueger said. Distributors additionally would collect an excise tax of as much as 3 cents per milligram of THC, the active ingredient in cannabis, with a sliding scale based on the type of product and its potency.“
the excise tax in California is per ounce of weed sold and paid by the grower regardless of the potency, $9.65 per ounce of flower.
Cultivation Tax Rates California:
As of January 1, 2020, the tax on cannabis flower per dry weight per ounce will increase from $9.25 to $9.65. Marijuana leaves per dry weight per ounce will increase from $2.75 to $2.97, and fresh cannabis plants per ounce will increase from $1.29 to $1.35.
The rates apply to cannabis that a cultivator sells or transfers to a manufacturer or a distributor.
NY's scheme of 3 cents per milligram would cost a grower of 20% potency bud $170 per ounce in excise tax at that rate, even a penny per milligram would be $56 per ounce tax on the grower.
Regardless of the amount per milligram taxed on the grower the sad truth is that growers will make more money growing mids than high potency weed.
only in NY...
Of course it will with a 13% sales tax AND an excise tax that growers will pay when they sell their weed and that an edible or concentrate maker will pay when they sell their product.
“The deal that legislative leaders brokered with Cuomo (D) calls for a 13% sales tax, 9% of which would go to the state and 4% to the localities, Krueger said. Distributors additionally would collect an excise tax of as much as 3 cents per milligram of THC, the active ingredient in cannabis, with a sliding scale based on the type of product and its potency.“
the excise tax in California is per ounce of weed sold and paid by the grower regardless of the potency, $9.65 per ounce of flower.
Cultivation Tax Rates California:
As of January 1, 2020, the tax on cannabis flower per dry weight per ounce will increase from $9.25 to $9.65. Marijuana leaves per dry weight per ounce will increase from $2.75 to $2.97, and fresh cannabis plants per ounce will increase from $1.29 to $1.35.
The rates apply to cannabis that a cultivator sells or transfers to a manufacturer or a distributor.
NY's scheme of 3 cents per milligram would cost a grower of 20% potency bud $170 per ounce in excise tax at that rate, even a penny per milligram would be $56 per ounce tax on the grower.
Regardless of the amount per milligram taxed on the grower the sad truth is that growers will make more money growing mids than high potency weed.
only in NY...
