cannabis banking

Today, one particularly interesting economic experiment is playing out in Illinois. The state is going to tax cannabis products based upon their THC percentage, not upon their weight, as most states with adult-use cannabis do today.

Cannabis products with less than 35% THC will face a 10% excise tax. Cannabis products with more than 35% THC will face a 25% excise tax. Meanwhile, cannabis-infused products, such as edibles, will be taxed at 20%, regardless of their THC percentage. This means that a cannabis consumer in Illinois looking to purchase some artisan ice-water hash, a delicious terp sauce or a vape cartridge will pay 15% more in excise tax.

Curated from Cannabis Now