Break Down Of Recreational Marijuana Taxes By Michigan Based Cannabis Legal Group

Break Down Of Recreational Marijuana Taxes By Michigan Based Cannabis Legal Group

Lit Provisioning Centers in Evart opened up on Friday with a big hit. 9 & 10 news states, in just two days, they served more than 750 customers and made $75,000 in recreational sales with average customers spending $103. The centers actually ran out on available flowers, expecting more this week.  These numbers now hold a flame to the downstate’s first day of recreational sales which ranked from 2,200 people across four businesses with more than $220,000. As for the medical marijuana taxes in Michigan, it is taxed at a 6% sales tax, but recreational marijuana is a little more complicated than that.  For recreational marijuana, the state of Michigan currently charges a 6% sales tax along with a 10% excise tax. Barton Morris with Cannabis Legal Group delved into the matter deeper and showed how those taxes break down.  Morris said that although that money goes to the general fund, it is bookmarked for particular projects such as roads, schools, and some of the money even goes back to the communities in which these facilities are being created.  Here’s a brief break down of how Michigan compares to other states in terms of taxes on cannabis legalization: Washington has…

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Source : Cannabis Radar
Link to original : Break Down Of Recreational Marijuana Taxes By Michigan Based Cannabis Legal Group
reposted by Cannabis News World

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