Fourth Legislative Committee Holds Recreational Marijuana Hearing; Bill Focuses On Taxation
On Monday, the Connecticut legislature’s finance, revenue and bonding committee became the fourth panel to hold a public hearing on recreational marijuana this legislative session. This time, on a bill that focuses on the taxation of marijuana and marijuana products sold in the state should they be legalized.
The bill, H.B. 5582, would allow Connecticut to tax marijuana and marijuana products on and after the date marijuana is legalized, though this year legalization is unlikely as one key committee has already rejected the measure and another will not be voting on the measure.
The bill doesn’t specify the tax rate consumers would have to pay when purchasing recreational marijuana but instead proposes that should legalization occur, the “marijuana wholesaler” would be taxed at a rate of 13.65 percent.
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