The proposed bill, General Assembly Proposed Bill No. 59, seeks to amend chapter 214c of the general statutes by replacing the current cannabis tax, which is based on total THC content, with a flat excise tax. This change aims to simplify the taxation structure for cannabis products, moving away from a variable tax rate that fluctuates with THC levels to a consistent flat rate.

The bill does not specify the exact rate of the proposed flat excise tax, but it emphasizes the intention to streamline the taxation process for cannabis, potentially making it easier for consumers and businesses to understand and comply with tax obligations. The overall goal is to create a more straightforward and predictable tax environment for the cannabis industry.