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TAX PROJECTIONS UNDERSCORE UNCERTAINTY ABOUT MARIJUANA POPULARITY

By Colin A. Young
STATE HOUSE NEWS SERVICE

STATE HOUSE, BOSTON, DEC. 6, 2017.....Newly legal marijuana sales could provide as much as $82 million in state tax revenue next fiscal year, the commissioner of revenue told lawmakers Wednesday.

The Cannabis Control Commission expects retail cannabis shops to begin opening July 1, 2018, the first day of fiscal year 2019, and lawmakers joined Baker administration officials Wednesday to try to get an early read on revenue expectations.

Non-medical marijuana sales will be subject to the state's 6.25 percent sales tax, a 10.75 percent marijuana excise tax and a 3 percent local tax, rates that were set in a law passed by the Legislature this year amending the voter-approved marijuana legalization law of 2016.


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State House News Service