Governor’s Tax Council discusses taxing medical marijuana
TOPEKA, Kan. (WIBW) - Kansas is not considering a tax extension due to COVID-19 this year. Revenue department officials mentioned it during Friday’s online meeting of the Governor’s Council on Tax Reform.
They also discussed medical marijuana. It’s legal in 36 states, and the governor has proposed legalizing it, and using the taxed to fund Medicaid expansion. The Council learned medical marijuana taxes generated $12 million in Colorado last year. But, the state made $300 million on recreational form of the drug.
“While taxes on medical marijuana, the taxes are low, relative to recreational marijuana, it’s real, and if you tax it you will generate millions of dollars in revenue,” Richard Auxier, of Urban Brookings Tax Policy Center, said.
The group heard three options for marijuana taxes. It could be based on percentage of price, the weight, or potency.
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