193 results found for: cannabis
Taxes on Adult-Use Cannabis in Each State
April 17, 2025 • By Carl Davis
Twenty-three states have legalized the sale of cannabis for general adult use, and sales are already underway in 21 of those states. Every state allowing legal sales applies an excise tax to cannabis based on the product’s quantity, its price, or both. Quantity taxes can be based on either overall product weight or the amount […]
How is Adult-Use Cannabis Taxed by Your Local Government?
April 19, 2023 • By Carl Davis, Eli Byerly-Duke
Twenty states have legalized the sale of cannabis for general adult use. Cannabis taxes vary considerably depending on local authority. Some states allow local governments to levy standalone excise taxes applying narrowly to cannabis purchases. Most local excise taxes on cannabis are levied in states that do not permit local governments to levy general sales taxes.
How is Adult-Use Cannabis Taxed in Your State?
April 19, 2023 • By Carl Davis, Eli Byerly-Duke
Twenty states have legalized cannabis sales for general adult use. Every state allowing legal sales applies a cannabis tax based on the product’s quantity, its price, or both. ITEP research indicates that taxes based on quantity will be more sustainable over time because prices are widely expected to fall as the cannabis industry matures.
How Is Recreational Cannabis Taxed in Your State?
April 20, 2022 • By ITEP Staff
Eighteen states have legalized the sale of cannabis for general adult use and sales are already underway in 10 of those states. Every state allowing legal sales applies an excise tax to cannabis based on the product’s quantity, its price, or both. Quantity taxes are typically based on weight, though New York measures quantity by the amount of THC sold. ITEP research indicates that taxes based on quantity will be more sustainable over time because prices are widely expected to fall as the cannabis industry matures. Most states allowing for legal cannabis sales apply their general sales taxes to the…
Cannabis Taxes Outraised Alcohol by 20 Percent in States with Legal Sales Last Year
April 19, 2022 • By Carl Davis
In 2021, the 11 states that allowed legal sales within their borders raised nearly $3 billion in cannabis excise tax revenue, an increase of 33 percent compared to a year earlier. While the tax remains a small part of state budgets, it’s beginning to eclipse other “sin taxes” that states have long had on the books.
420 Intel: Considering Opportunities for the Upcoming Federal Taxation of Cannabis
April 14, 2021 • By ITEP Staff
According to the Institute on Taxation and Economic Policy, “state and local excise collections on retail cannabis sales surpassed $1 billion for the first time in 2018.” This rapid growth is aligned with the acceptance of medical and recreational cannabis, and the efforts states are putting in to help discourage purchasing cannabis from unlicensed and […]
The Joint Blog: Report: State and Local Cannabis Tax Revenue Jumps 58%, Surpassing $3 Billion in 2020
April 4, 2021 • By ITEP Staff
According to a new report conducted and released by the Institute on Taxation and Economic Policy, tax revenue from state-legal marijuana sales rose significantly in 2020 to surpass $3 billion. “Powered by an expanding legal market and a pandemic-driven boost in cannabis use, excise and sales taxes on cannabis jumped by more than $1 billion […]
The Street: Cannabis Stocks Rise as New York Moves Closer to Legalization
March 30, 2021 • By ITEP Staff
New York would be the 16th state, plus the District of Columbia, to fully legalize marijuana after decades of imprisoning people who participated in the cannabis black market. About one in three Americans live in a state with legal sales of recreational cannabis, according to the Institute on Taxation and Economic Policy. Read more
The Street: New York Inches Closer to Legalizing Recreational Cannabis
March 24, 2021 • By ITEP Staff
Last November, voters in New Jersey and Arizona voted to legalize marijuana. And in December, New Jersey placed a social equity excise tax on cannabis sales in order to address the disparate effect of anti-marijuana laws on communities of color. About one in three Americans live in a state with legal sales of recreational cannabis, […]
Marijuana Moment: Cannabis Banking Bill Comes Back to Congress
March 18, 2021 • By ITEP Staff
An Institute on Taxation and Economic Policy analysis concluded that “cannabis taxes are a small part of state and local budgets, clocking in at less than 2 percent of tax revenue in the states with legal adult-use sales” but are also “one of states’ fastest-growing revenue sources.” Read more
