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Cannabis prices are falling in Connecticut but remain nearly double those in Massachusetts.
Connecticut cannabis prices drop – but so do sales is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis prices are falling in Connecticut but remain nearly double those in Massachusetts.
Connecticut cannabis prices drop – but so do sales is a post from: MJBizDaily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Cannabis consumers in Washington state may soon be subject to a “dank tax.”
Lawmakers there have introduced a bill that would tax marijuana products based on the percentage of THC.
In other words: the stronger the weed, the higher the price.
“Research indicates that between 12 and 50% of psychotic disorders could be prevented if high potency cannabis products were not available,” said Washington state House Rep. Lauren Davis, one of the sponsors of the bill, as quoted by local news station KXLY.
Davis believes that the measure is necessary to combat what she describes as a “crisis.”
“If we fail to act now to counter the emerging public health crisis created by high potency cannabis products, we will soon have another epidemic on our hands,” Davis added.
The legislation, House Bill 1641, would restructure “the 37 percent cannabis excise tax to a tax of 37 percent, 50 percent, or 65 percent of the selling price, based on product type and tetrahydrocannabinol (THC) concentration,” according to an official legislative summary of the measure.
“[Thirty-seven] percent of the selling price on each retail sale of cannabis-infused products, useable cannabis with a THC concentration less than 35 percent, and cannabis concentrates with a THC concentration less than 35 percent,” the summary read. “[Fifty] percent of the selling price on each retail sale of cannabis concentrates and useable cannabis with a THC concentration of 35 percent or greater but less than 60 percent; and 65 percent of the selling price on each retail sale of cannabis concentrates and useable cannabis with a THC concentration greater than 60 percent.”
HB 1641, which had its first public hearing last week, would also establish the following, per the legislative summary:
“Marketing and advertising prohibitions on advertising a product that contains greater than 35 percent total THC … Prohibits cannabis retail outlets from selling a cannabis product with greater than 35 percent total THC to a person who is under age 25 who is not a qualifying patient or designated provider … Requires cannabis retailers to provide point-of-sale information to consumers who purchase certain cannabis products and requires the Liquor and Cannabis Board to develop optional training for retail staff … Requires mandatory health warning labels for cannabis products that contain greater than 35 percent total THC … Requires cannabis products to be labeled with the number of serving units of THC included in the package, and with an expression of a standard THC unit in volume or amount of product … Directs $1 million annually from the Dedicated Cannabis Account for targeted public health messages and social marketing campaigns.”
Not everyone is on board with the proposal, which has a dozen sponsors.
Carol Ehrhart, who owns a dispensary in the state, told KXLY that the proposed tax increase could lead to some adverse consequences.
“There’s this, you know, idea that the THC is going to get me further along. The higher that we make those prices, the more apt someone is to buy the higher priced item because they think they’re getting more bang for their buck when they’re really not,” Ehrhart told the station.
“A product that we’re selling right now for $40 that’s over the 60% threshold would go to $47, almost $48. You know, that’s seven or $8 in taxes on one piece of product,” Ehrhart added.
Washington became one of the first two states to legalize recreational cannabis in 2012, when voters there approved a measure that legalized possession and paved the way for a regulated market. (Colorado also approved a legalization measure the same year.)
The post Washington Lawmakers Propose Raising Taxes on Higher Potency Weed appeared first on High Times.
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