MENU
component-ddb-728x90-v1-01-desktop

Tax rate on selling marijuana

CBS 13 is on your side answering your questions about Maine’s new marijuana law. (WGME)

AUGUSTA (WGME) -- Another issue likely to get another look is the tax rate on selling marijuana.

Maine is currently planning to tax retail marijuana at 10 percent.

But that's lower, in many cases much lower, than the other states that have voted to legalize it.

Massachusetts also just passed it, putting its combined state and local taxes at 12 percent, while California is at 15 percent, but that can double to 30 percent when local taxes are added in.

A leader of the Yes on 1 campaign says he believes a lower tax rate will help deter people still buying on the black market, but he also admits that rate may be subject to change.

As for how much money, there are no estimates.

However, it is expected to far exceed what medical marijuana generates in taxes in Maine, which is currently $4 to $5 million.

Trending

LOADING