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Puff, Puff, Tax

TOKES & TAXES EXPLORING THE TAX IMPLICATIONS OF LEGALIZING MARIJUANA CO COLODADO RECREATIONAL CANNABIS LEGALIZED STATE TAX 2.9. 15 STATE SALES AVERAGE LOCAL STATE SALES TAX. 4.54. OTHER APPLICABLE TAXES: STATE MARIJUANA TAX LU% TAX: TAX: t This tax optionally applied, per municipality * Applied to all rotail salos, plannod to drop to 8% in July 2017 * Excise Tax is only applied at the wholesale level MARIJUANA: TAX REVENUE MEDICAL RETAIL JUL 2014- JUN 2015 JUL 2015- FEB 2016 JUL 2014- JUN 2015 $77.9M/ $88.3M $14.5M SPENDING COLORADO TAX PAYERS RECENTLY VOTED ON SPENDING $66.1 MILLION IN TAX FUNDS: .8. .8. SUBSTANCE ABUSE SCREENING, INTERVENTION, & REFERRAL SUBSTANCE ABUSE TREATMENT 1.5 .5. FUTURE FARMERS OF AMERICA & 4-H PROGRAMS LOCAL GOVERNMENT GRANTS 1.5. .3. POISON CONTROL CENTERS 3. IMPAIRED DRIVING ENFORCEMENT TRAINING FOR POLICE YOUTH MENTORING SERVICES 60.5. PUBLIC SCHOOL CONSTRUCTION FUND EDUCATION CASH FUND 3 12.3. SCHOOL GRANTS EDUCATIONAL 3.8. & ANTI-DRUG EFFORTS (MTCF) MARIJUANA EDUCATION & PREVENTION CAMPAIGNS 9.1. REPAY GENERAL FUND FOR MONEY ALLOCATED PRIOR YEAR Note: The General Assembly annually appropriates money for any purpose, but prioritizes certain public health and safoty usos. Numbors may not add up duo to rounding. WA WASHINGTON RECREATIONAL CANNABIS LEGALIZED STATE TAX STATE SALES TAX: STATE EXCISE TAX: AVERAGE 6.5. 2.39.. OTHER APPLICABLE TAXES: B&O TAX 0.48. 37. LOCAL SALES TAX: t Not applicable to retail consumer, producers, processors and retailers must still pay B&O and retail sales taxes as applicable, with local sales tax ranging from 0.5-3.1% dependant upon municipality *Business & Occupation gross receipts tax + Exciso Tax is only appliod at tho rotail lovol Note: Sales of medical marijuana are retail sales. As such, the selling price is subject to retail sales tax. In addition, the seller is subject to the business and occupation (B&O) tax under the retailing classification MARIJUANA: TAX REVENUE RETAIL APRIL 2014-MAR 2015 APRIL 2015-MAR 2016 MEDICAL JUL 2014- JUN 2015 $64.9M $126.7M $11.0M SPENDING 15. YOUTH SUBSTANCE 18.7. ABUSE PROGRAMS 10. MARIJUANA EDUCATION & PUBLIC HEALTH PROGRAMS GENERAL FUNDS .3. FUND GRANTS .6. TO BUILDING UNIVERSITY OF WASHINGTON BRIDGES PROGRAMS 5. .4 HEALTH & DENTAL CARE WASHINGTON STATE UNIVERSITY 50. Off The Top: Program Evaluation $240,000 Liquor Control Board $1,250,000 STATE BASIC HEALTH PLAN TRUST ACCOUNT OR ODEGON RECREATIONAL CANNABIS LEGALIZED STATE TAX STATE OTHER APPLICABLE 25. TA STATE EXCISE $35 $10ve $5 PANT /oz. /IMMATURE SALES TAX: TAXES: STATE U MARIJUANA TAX+ FLOWERS * Dependent upon municipality; state average of city sales tax listed. City can apply higher tax rates to recreational marijuana (up to 3%) when OLCC assumes control t Applied to all retail sales, scheduled to reduce to 17% when retail sales are moved away from medical dispensaries into recreational outlets, likoly in January 2017 * Excise Tax is only paid by the producer Note: Medical marijuana is not taxed MARIJUANA: TAX REVENUE JULY 2016-JUNE 2017 $38.5M PROJECTED TAX REVENUE FOR RETAIL MARIJUANA: SPENDING 10. 10. COUNTIES, FORLOCAL LAW ENFORCEMENT CITIES, FOR LOCAL LAW ENFORCEMENT 40. 5. COMMON SCHOOL FUND OREGON HEALTH AUTHORITY %$4 20. 15. MENTAL HEALTH, ALCOHOLISM, & DRUG SERVICES STATE POLICE AK ALASKA RECREATIONAL CANNABIS LEGALIZED STATE TAX STATE SALES TAX: 1.76 TAKES. AVERAGE OTHER STATE $505 $15RIM /oz. /oz. Ox SALES TAX: LOCAL APPLICABLE EXCISE MARIJUANA TAX: * Dopendent upon municipality; stato avorage of city sales tax listod tax ratos rango from 0-7.5% t Excise Tax is only applied at the wholesale level MARIJUANA: TAX REVENUE JULY 2016-JUNE 2017 $20.4M PROJECTED TAX REVENUE FOR RETAIL MARIJUANA: Note: Alaska does not have a medical marijuana industry separate from its commercial industry USA IF MARIJUANA WERE TO BE LEGALIZED THROUGHOUT THE COUNTRY: PROJECTED U.S. REVENUE: 3.098,86. 907 TOTAL: %24 ME $16.2M NH VT $9.9M WA $l1.4M $119.5M MT ND $10.7M $4M 10.9M $248.1M $54.6M SD %248.6M $10.7M $6.4M $122.1M WY $4.5M IA 104.2M 24.3M он $81.5M NE NV $13.1M 126.1M . $123M $36.1M $53.9M 11.9M VA$20.3M 51.9M UT Co 14.4M 78.1M KS $14.6M 46.2M MO ст $29.9M $41.9M $80M NJ $519.3M AZ ок $53.7M $81.5M AR 70.2M $27.9M $35.7M $22.6M $47.8M DE MS 33.9M $21.7M LA $28.8M $6.1M $72.5M MD $166.3M $40.6M AK $11.5M $183.4M HI s13.9M Status of Marijuana Legalization as of July 17, 2015 RECREATIONAL & MEDICAL USE MEDICAL USE CANNABIDIOL USE ONLY (MARIJUANA EXTRACT) NONE The formula used to calculate the state revenue is as follows: State market size - % smokers in state x state population/total users in U.S. x $14 billion Tax rate = state and local taxes + excise tax of 15% Revenue from sales and excise tax = state market size x tax rate. COLLECTED VIA TAX 1" MONTH OF LEGAL SALES JANUARY 2014 JULY 2014 JULY 2015 $2.9M WA $1M OR $3.48M MARIJUANA SMOKES THE COMPETITION: 3,099M A LOOK AT THE TOP US CASH CROPS 54.6M 42.7M 961K 17M 3.6M 16M 7.3M 8.5M 12.6M NOTES & REFERENCES Retall prohibted eitles in Oregon include: Adrian, Albany, Athena, Aumsville, Baker City, Baker County, Boardman, Brownsville, Burns, Canyon City, Canyonville, Coburg, Cove, Creswell, Crook County, Damascus, Dayville, Deschutes County, Detriot, Douglas County, Eagle Point, Elgin, Enterprise, Fairview, Gervais, Gilliam County, Gladatone, Grant County, Grants Paas, Gras Valley, Halsoy, Happy Valley, Hamey County, Harriaburg, Heppner, Hubbard, Ione, Irrigon, Ialand City, Jacksonville, Jefferson County, John Day, Jordan Valley, Joseph, Junction City,Klamath County, Klamath Falla, LaGrande, Lake County, Lake Oswego, Lebanon, Lexington, Linn County, Lostine, Lyons, Madras, Malheur County, Manzanita, Marion County, Maupin, Medford, Merrill, Mill City, Millersburg, Milton-Freewater, Monument, Moro, Morrow County, Angel, Mount Vernon, Myrtle Point, North Powder, Nyssa, Ontario, Oregon City, Pendleton, Prairie City, Richland, Rufus, Sandy, Scappoose, Scott Milla, Shaniko, Sherman County, Sherwood, Spray, Sublimity, Sutherlin, Sweet Home, Tangent, Ukiah, Umatilla, Umatilla County, Union County, Vale, Wallowa, Wallowa County, Wasco City, West Linn, Wheeler County, Mount Wilsonville. Note: Areas that prohibit recreational marijuana facilities will not receive any marijuana tax revenue. LIST OF SOURCES: CannablsFinalReport.pdf httpe:// BROUGHT TO YOU BY CommunityTax Marijuana Barley Sorghum %24 Rice %24 Tobacco Cotton Hay Wheat Oil Crops Con

Puff, Puff, Tax

shared by BBCTax on Apr 29
This infographic highlights the tax implications of legalizing recreational marijuana.


Community Tax


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