HB18-1062

HB18-1062 - Sales Tax On Retail Marijuana

Postponed Indefinitely
Concerning the sales tax imposed on sales of retail marijuana, and, in connection therewith, reducing the retail marijuana sales tax rate by two and nine-tenths percent and repealing the general state sales tax exemption for sales of retail marijuana.

On March 1, 2018, the bill repeals the general state sales tax exemption for sales of retail marijuana and reduces the retail marijuana sales tax by 2.9% from 15% to 12.1%. With the repeal of the state exemption, sales of retail marijuana will automatically be subject to the sales tax levied by a limited purpose governmental entity whose sales tax authority is the same as the state.

Currently, statutory municipalities and counties are authorized to create an exemption for sales of retail marijuana that are exempt from the state general sales tax. Along with the repeal of the state exemption, this contingent authority is repealed.

(Note: This summary applies to this bill as introduced.)

Latest update: February 7, 2018
02/07/2018 - House Committee on Finance Postpone Indefinitely
01/10/2018 - Introduced In House - Assigned to Finance + Appropriations