Beginning January 1, 2024, this bill changes the basis for the calculation of the excise tax on cannabis flower from the weight of product sold to the average market rate of cannabis flower sold. The average market rate would be determined annually by the Department of Administrative and Financial Services. The bill also decreases the excise tax on cannabis trim from $94 per pound to $25 per pound.

Statutes affected:
Bill Text LD 1405, HP 901: 36.4923