- The Weed Blog https://www.theweedblog.com

Inside The Push For A Federal Marijuana Tax

7
Share.

cannabis taxOpen your minds and your pocketbooks, man. A pair of bills introduced Tuesday by House Democrats would legalize marijuana and tax the industry.

Rep. Jared Polis, D-Colo., sponsored a bill that would classify pot as a substance similar to alcohol and regulate it through a newly named “Bureau of Alcohol, Tobacco, Marijuana and Firearms.”

The legislation doesn’t force states to legalize marijuana. But in states that have chosen to allow marijuana for medical or recreational use, related businesses will no longer run the risk of being raided by federal agents, Polis said.

“Congress should simply allow states to regulate marijuana as they see fit and stop wasting federal tax dollars on the failed drug war,” Polis said in a press release.

A second bill would set up a federal tax on the newly legal marijuana industry, to offset the cost of regulation. Earl Blumenauer, D-Ore., proposed the bill that imposes taxes on people dealing with marijuana, like producers and importers. There would be penalties for those who don’t pay the taxes. The bill asks the IRS to study the pot industry to come up with other recommendations.

“We are in the process of a dramatic shift in the marijuana policy landscape,” Blumenauer said.

Share.

About Author

We’re everything you need to know about marijuana – your #1 source of important marijuana-related information. From the plant and its benefits to its place in culture and society, TWB has you covered! News. Culture. Science. Cooking. Growing. Industry. Advocacy. You can find this and so much more.

  • incogneatow

    Compelling to say the least, this coming from a person that tends to be long winded…

    Thank you!

  • Try this on people:

    Medical Marijuana prohibition is a crime against humanity and a violation of the religious precept – heal the sick.

    Pass it on.

  • incogneatow

    As long as the state allows for personal cultivation, I do not have a problem with it. If I can grow then the tax won’t be an issue.

    Recreational use of cannabis is just the tip, under it lies a mountain undiscovered territory. The relationship between humans and cannabis is still in it’s infancy. Cannabis is a plant that is much akin to corn. The manner in which we now refine corn to produce corn syrup, xylitol, starches, alcohol (ethanol) etc. is incredible. Cannabis has that potential also, for all the many known and not yet established strains. Humankind’s manipulation of cannabis has yet to yield it most important product.

    CBD, CDN, THC, THCA and other unknown constituents, extracts and isolating compounds for health purposes not to mention all that can be produced from industrial hemp… We are entering an industry that can be considered a new frontier. Cannabis legalization is nothing short of a global game changer.

  • PhilDeBowl

    We voted to legalize And regulate MJ here in WA. state in part to eliminate the black market, the way you do that is to take the Value out of the product,underprice them. Instead what I see so far is everyone basing their budget on the ILLEGAL market price,I have heard that the state plans to sell a gram for $10-12. That will Not get rid of the black market,it will assure it. I suggest we all just grow our own,and let the moralists and money grubbers pave their road to Hell.

  • Johnny Bloomington

    I like the first bill from Rep. Jared Polis but not the second bill. 50% tax sounds like too much and it squeezes out the mom and pop growers because only big industry can make it on mass to pay the taxes. Also, you make the tax too high and you invite the black market to undercut those legally taxed weed. Here’s some tax info for others: http://www.ttb.gov/tax_audit/atftaxes.shtml

  • piepaw

    It’s truly refreshing to hear people talking rationally about Cannabis and how we can change the laws to better reflect the will of the American public. I was getting very discouraged there for awhile with the constant prohibitionistic regurgitation of lies and propaganda regarding Cannabis. We still have to stand up together against the likes of Sabet et al who continue profiting from the illegality of a plant that causes much less harm than tobacco and/or alcohol, which are both completely legal for responsible adults.