Finance & Revenue
We talked last week about how the Michigan Legislature passed a 24% retail tax on cannabis. Industry has filed a lawsuit to invalidate the tax arguing that the tax is inconsistent with the voter approved proposition, and the passage of the 24% tax rate required greater vote thresholds.
Is 24% the highest retail cannabis tax rate?
Washington State has a 37% retail tax. Illinois has a 25% retail tax on certain THC concentrations.
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