Monday, November 15, 2021 4:07:23 PM
From LinkedIn:
Dave Bernstein ( Cannabis Entrepreneur)
Today, Representative Nancy Mace (R-SC) released the States Reform Act, which would deschedule, regulate, and tax cannabis products with a novel federal excise tax design—based on quantities and predefined categories, not dissimilar from how the federal government taxes alcohol and tobacco.
Rep. Mace’s bill would impose a tax of 3 percent on the removal price of cannabis products. That’s significantly lower than the rates suggested in the other bills introduced this year to deschedule and tax cannabis: the MORE Act (8 percent rate) and the Cannabis Administration and Opportunity Act (CAOA, 25 percent rate). #cannabisindustry #legalization #marijuanaindustry
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