In 2020, Illinois imposed a potency-related tax for all marijuana sales, followed by New York this past March. Vermont also plans to limit the amount of THC in products when the state opens up its legal cannabis market in 2022, with the percentage of THC in any amount of recreational pot set at 30% for flower-form marijuana and 60% for concentrates. Currently, in states where it’s legal, marijuana is taxed on the established sale price or weight. But with the new laws in Illinois and New York, more states are likely to follow their lead and adopt potency-related taxes on recreational sales.
Read the Blog for more information on these new cannabis potency laws.
This blog was originally posted by NutraRisk, an Amwins specialty.