Worcester Business Journal asks for lower cannabis taxes
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.