Taos News: Picuris and Pojoaque pueblos will administer independent cannabis tax programs

Taos News: Picuris and Pojoaque pueblos will administer independent cannabis tax programs
CANNANNEW REPORT

An agreement signed last month between the New Mexico Taxation and Revenue Department and Picuris Pueblo formally recognized the tribe’s authority to administer its own tax program in relation to cannabis. The state also signed a tax agreement with Pojoaque Pueblo. “Pueblo enterprises are not subject to the state cannabis excise tax within the Pueblo’s Indian country and will not be required to file any return with the Department concerning the state cannabis excise tax for sales of a cannabis product that occurs within the Pueblo,” according to the May 6 agreement. “The Pueblo will be solely responsible for the enforcement, administration, collection and remittance and auditing of Pueblo cannabis excise tax from Pueblo enterprises.” The agreement stipulates that the tribe shall determine what constitutes a “Pueblo enterprise.” Until July 1, 2025, the cannabis tax rate in the rest of the state will be 12 percent, after which it will gradually rise to 18 percent by July 1, 2030. “New Mexico has a strong history of collaborating with tribes to efficiently administer taxes while recognizing tribal sovereignty and the limitations of state authority on tribal lands,” Taxation and Revenue Secretary Stephanie Schardin Clarke said in a press release. “This administration is committed to strengthening relationships with tribal governments.” Read More https://www.taosnews.com/news/environment/under-historic-agreements-with-state-picuris-and-pojoaque-pueblos-will-administer-independent-cannabis-tax-programs/article_1b82fb45-3f08-5b64-b0ee-76bf2a351e26.html

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Source : Taos News: Picuris and Pojoaque pueblos will administer independent cannabis tax programs

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