Senate OKs Bill Changing Tax Structure Of Marijuana Law

WASHINGTON:  The Senate has passed a bill that removes the excise tax on producers and processors of recreational marijuana and instead imposes the tax only on retail sales.

Senate Bill 6062 passed on a 26-22 vote in the early morning hours of Friday and now heads to the House for consideration. Under the measure, the retail sales tax rate would be 37 percent.

A bulk of the tax would be distributed to the general fund, with the remainder going to an education fund. Of the amount going to the general fund, $6 million would be distributed to local governments.