North Dakota Tax Commissioner: Cannabis Taxes Could Reach $7.28M Every Two Years – Ganjapreneur | How to buy Skittles Moonrock online
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North Dakota Tax Commissioner : Cannabis taxes could reach $7,28M every two years – Ganjapreneur (19459000)
Mon / Aug. 26th
By: TG Branfalt
North Dakota Tax Commissioner Brian Kroshus estimated that the state could generate $7,281 million every two-years in adult-use marijuana taxes based on an 5% sales tax.
The full story is below the jump.
North Dakota’s Tax Commissioner estimates that adult-use marijuana taxes in the state could be as high as $7.281 million every 2 years, based on a sales tax of 5%. Associated Press reports. The proposed ballot measure doesn’t include a tax percentage – that decision will be made by lawmakers.
Steve Bakken, the leader of the initiative to legalize marijuana in the state, gave estimates for tax revenues based on data extrapolated from six other states. North Dakota. He estimated that annual revenues would range from $7.65 to $19.46 million.
The measure will include financial estimates. The legislative panel approved estimates for $10.3 million revenue, $8.3 millions in expenditures and an “undetermined” amount of other costs related “to behavioral health and social impact.”
The panel also approved other possible expenses related to the legalization of adult-use cannabis, including an estimated $4 million one-time expenditure by the state Highway Patrol to purchase oral fluid screening devices over the next two-years to test for cannabis impairment at traffic stops. Kyle Davison, a Republican state senator, called the estimate “just a bit overkill in terms of fiscal note.”
Ben Koppelman, a Republican Rep., said that adding the fiscal note to the reforms “feels like packing it to be negative.” He added that he is “not a supporter of” the reforms but that “we need to be fair.”
North Dakotans are considering legalizing cannabis This November, the voters rejected similar proposals for the third time. Similar proposals have been rejected twice before by voters, in 2018 as well as 2022.
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