Alaska Lawmakers Considering Changes to State’s Cannabis Tax System
- Ganjapreneur Sep 18, 2023
Alaska lawmakers are considering a proposal to lower the state tax on cannabis from a per-ounce tax to a sales tax.
Currently, cannabis is taxed at $50 an ounce, but the tax revenues have been declining.
Last year, a task force convened by Governor Mike Dunleavy recommended a new tax system for the cannabis industry.
The proposed measure would change the tax to a 10% sales tax collected by retailers.
Alaska lawmakers are considering a proposal to lower the state tax on cannabis from a per-ounce tax to a sales tax, the Anchorage Daily News reports. Under the state law, enacted in 2014, cannabis is taxed at $50 an ounce.
In fiscal year 2021, the state collected more than $30 million from cannabis taxes, the report says. However, according to a 2022 report from the Tax Policy Center of the Brookings Institution, when local taxes are included, Alaska taxes cannabis more than other states. In fiscal year 2022, cannabis tax revenues in Alaska fell to less than $29 million – the first time cannabis tax revenues dropped year-over-year.
Last year, Gov. Mike Dunleavy (R) convened a task force to analyze the adult-use cannabis industry’s progress, and one of the recommendations in the report by the group was a new tax system.
As originally…
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Alaska lawmakers are considering a proposal to lower the state tax on cannabis from a per-ounce tax to a sales tax, the Anchorage Daily News reports. Under the state law, enacted in 2014, cannabis is taxed at $50 an ounce.
In fiscal year 2021, the state collected more than $30 million from cannabis taxes, the report says. However, according to a 2022 report from the Tax Policy Center of the Brookings Institution, when local taxes are included, Alaska taxes cannabis more than other states. In fiscal year 2022, cannabis tax revenues in Alaska fell to less than $29 million – the first time cannabis tax revenues dropped year-over-year.
Last year, Gov. Mike Dunleavy (R) convened a task force to analyze the adult-use cannabis industry’s progress, and one of the recommendations in the report by the group was a new tax system.
As originally…
