Cannabis Tax Cuts Proposed In Two States
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Michigan and Alaska are taking a look
Michigan’s cannabis industry is rallying behind a push to repeal the recently implemented 24% wholesale tax.
The unprecedented tax hike, passed during state budget negotiations in October and imposed Jan. 1, has already crashed legal sales in Michigan, state data shows.
Marijuana retailers reported a 16% drop in business last month, with many operators struggling to stay afloat, Robin Schneider, director of the Michigan Cannabis Industry Association, told business publication Moody on the Market.
“It’s pretty bad,” Schneider said. “We’re already seeing facility closures.”
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