New Mexico, Two Pueblos Reach Cannabis Tax Agreement
“New Mexico has a strong history of collaborating with tribes”
The State of New Mexico has reached an agreement with two pueblos about cannabis taxes. Under the agreement, the pueblos of Pojoaque and Picuris have the authority to administer their own taxes for cannabis sales.
“New Mexico has a strong history of collaborating with tribes to efficiently administer taxes while recognizing tribal sovereignty and the limitations of state authority on tribal lands,” said Taxation and Revenue Secretary Stephanie Schardin Clarke in a release.
It will cover all cannabis businesses operating on pueblo lands and the pueblos will decide what businesses can open on their land. The agreement also means the state cannabis excise tax of 12% does not apply to those businesses on tribal land.
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