Wednesday, March 4, 2020
In the midst of broader discussions of issues surrounding the full legalization of marijuana in various states, I asked my students to give some particularized attention to tax issues. Tax issues in the marijuana space strike me as especially interesting because they present (a) value issues of what goals that tax here is designed to achieve (e.g., raise revenue vs. impact consumption patterns), (b) practical issues about how best to impose a tax (e.g., sales v. excise; weight v. potency of products), and (c) policy issues about whether and how to earmark tax revenues (e.g., for certain infrastructure, social equity, public health).
Against the backdrop of these big issues, and as my students do some independent research on tax matters, I thought I might here round up some relatively newer resources on tax matters. These materials cover only a very small slice of important marijuana tax issues, but I hope it still might prove useful to readers as well as to my students:
From Illinois Policy in January 2020, "Among Nation’s Highest, Could Keep Black Market Thriving"
From the Federation of Tax Administrators from various sources in December 2019, "Status of State Taxation/Sales of Marijuana"
From Pew Trusts in August 2019, "Forecasts Hazy for State Marijuana Revenue"
From Tax Foundation in April 2019, "How High Are Taxes on Recreational Marijuana in Your State?"
From the Institute on Taxation & Economic Policy in January 2019, "Taxing Cannabis"