420 with CNW – Why Michigan May Have Decided to Levy Lower Cannabis Taxes
Michigan voters approved recreational marijuana in the recent mid-term elections and the state is now one of those with the lowest tax rates for cannabis. Didn’t Michigan need the revenue marijuana can bring? Was it playing for higher stakes? Several arguments can explain why Michigan chose the path it took. First could have been concerns about the black market. The tax policy implemented by any state that legalizes marijuana influences whether consumers keep buying from the black market or switch to the legal product. Michigan seems to have learnt from the pioneer states that legalized cannabis first. California has some…