Vote Smart's Synopsis:

Vote to pass a bill that establishes a tax on retail marijuana.

Highlights:

• Establishes a 17 percent sales tax on certain marijuana products, effective January 1, 2016, including, but not limited to, the following products (Sec. 2):
• Marijuana plants;
• Cannabinoid concentrate; and
• Cannabinoid extract.

• Establishes a 25 percent sales tax on “limited marijuana retail products,” effective January 4, 2016, including the following products (Sec. 21a):
• Marijuana seeds;
• Dried marijuana leaves and flowers; and
• Marijuana plants that are not flowering.

• Authorizes the Department of Revenue to establish, administer and enforce the rules and procedures required to carry out the collection of the sales tax (Sec. 9).

• Requires a marijuana retailer to submit a tax return to the department quarterly (Sec. 3).

• Authorizes the marijuana retailer to deduct and retain 2 percent of the taxes that are collected from all retail sales of marijuana items (Sec. 13).

Full Bill Text