United States Medical Cannabis Taxation Policy/Regulatory Report 2022

1.2 min readPublished On: October 25th, 2022By

Dublin – This report focuses only on state taxation of medical cannabis. On the federal level, there is no excise tax on cannabis, as it is a controlled substance. Cannabis businesses must still pay income taxes, though, and cannot claim deductions that other businesses routinely use for federal tax purposes.

Tax policies for medical cannabis vary widely across the states of the US, as the public policy debate continues. Whereas some states seek to derive revenue from it – either to fund tight regulation over the program or other endeavors – others subject medical cannabis to lower tax rates than other goods to reduce patients’ medical costs.

By comparison, CBD products are generally taxed in the same way as any other sale of goods: they are subjected to the general state sales tax. Recreational cannabis, on the other hand, is often subject to excise taxes – sometimes at very high rates.

Key Topics Covered:
1 Executive Summary
2 Introduction
3 State Taxation of Medical Cannabis
4 State Regulations
5 Alabama
6 Alaska
7 Arizona
8 Arkansas
9 California
10 Colorado
11 Connecticut
12 Delaware
13 Florida
14 Hawaii
15 Illinois
16 Louisiana
17 Maine
18 Maryland
19 Massachusetts
20 Michigan
21 Minnesota
22 Mississippi
23 Missouri
24 Montana
25 Nevada
26 New Hampshire
27 New Jersey
28 New Mexico
29 New York
30 North Dakota
31 Ohio
32 Oklahoma
33 Oregon
34 Pennsylvania
35 Rhode Island
36 South Dakota
37 Utah
38 Vermont
39 Virginia
40 Washington
41 West Virginia

(This information is primarily sourced from Research and Markets.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).

About the Author: News Team

Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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