420 with CNW — Michigan Lawmakers Pass Marijuana Tax Hike Proposal
The Michigan State Senate recently passed a measure introducing a 24% tax on wholesale marijuana sales. The new levy will be used to fix and maintain the state’s roads. The Senate passed House Bill 4951 last Friday, following the state House’s approval on September 25. Once signed into law, the 24% levy on wholesale transactions will be added to the existing 10% excise tax already applied to marijuana products. In addition, customers continue to pay a 6 percent sales tax when purchasing cannabis from licensed dispensaries. According to a legislative analysis, the additional tax is projected to generate roughly $420…

















