Stalled marijuana tax reform bill elicits mixed reaction from industry

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Alaska lawmakers failed to pass a marijuana tax reform bill this session to the displeasure of some in the marijuana industry who are concerned the industry is beginning to spiral due to high prices as the result of burdensome taxation.

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The bill that stalled in the Senate would take the current $50 per ounce tax imposed on cultivators who sell their marijuana to a retail marijuana store and reduce it to $12.50 per ounce before phasing into a 7% state-wide sales tax in January of 2025. Good Cannabis co-founder and general manager Trevor Haynes, who is also Vice president of the Alaska Marijuana Industry Association, said he was hopeful the bill would pass and worries about what the immediate future may be for some.

In favor of reducing the tax rate on cultivators, Tufted Puffin Marijuana dispensary owner Randy Wells said he would like the sales tax taken out of any future bill, as many cities across Alaska already have their own individual sales tax.

 

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