An editorial was published in the Worcester Business Journal recently titled, “Lower the Mass. cannabis tax rates”. The Business Journal points out that the Massachusetts cannabis industry is a competitive market with burdensome regulations. They worry about how this may negatively impact our cannabis economy as more states in New England launch adult-use sales. In order to stay competitive in a regional sense the editorial suggests lowing the tax to something more akin to what voters approved in 2016. The ballot measure envisioned a maximum of 12% tax at the point of sale for cannabis purchases. Adult-use dispensaries sold more than $1.4 billion dollars worth of cannabis in 2022. As the industry continues to grow moving the tax rate closer to Maine’s 10% tax is what some from the Worcester Business Journal would like to see.
Read the full editorial on the Worcester Business Journal website here: https://www.wbjournal.com/article/editorial-lower-the-mass-cannabis-tax-rates
