Michigan Senate Approves $420 Million Cannabis Tax Hike

5 quick hits of cannabis news from across Michigan

MICHIGAN—It’s Croptober, which means it’s harvest season for both buds and headlines. And between a new statewide tax hike, a busted black market operation with ties to China, and Lume gobbling up more territory across Michigan, there’s plenty to unpack this week.  Spark up and catch up: WHOLESALE HEARTBURN: Michigan lawmakers slapped a new 24% wholesale tax on weed as part of a late-night budget deal, and the industry is losing it. Dispensary o…

Michigan Senate Approves $420 Million Cannabis Tax Hike

The Michigan Senate has approved a bill to levy a 24% tax on wholesale cannabis transactions despite pushback from weed advocates and some lawmakers.

Insider: Whitmer Helped Win Support For Roads Plan, Cannabis Tax

LANSING – Michigan Gov. Gretchen Whitmer participated in a series of behind-closed-door meetings with Democratic lawmakers last week to help secure votes she needed to get a new budget and a road funding plan through the House and Senate. On Thursday night, Democrats who have a majority of the seats in the Senate were struggling to find the required 19 votes to pass a 24% new tax on wholesale marijuana — a piece of new revenue that was central t…

Michigan Governor Signs Bill Establishing a 24% Wholesale Marijuana Tax, Second-Highest Rate in U.S.

Governor Gretchen Whitmer has signed a new state budget that includes a sharp increase to marijuana taxes, a move that will give Michigan the second-highest cannabis tax rate in the nation. Tucked into the $81 billion budget signed by Governor Gretchen Whitmer is a 24% wholesale tax on marijuana, set to take effect January 1, … Continue reading

Michigan Lawmakers Approve New 24% Wholesale Cannabis Tax

Michigan lawmakers have passed a budget proposal that includes adding a new 24% wholesale tax on the cannabis industry. The House passed the proposal within hours of its unveiling last month, 78-21, and the Senate narrowly passed the proposal in a 19-17 vote on Friday. Lawmakers were moving quickly to set the state budget to avoid a government shutdown. Under the budget, the new wholesale tax is expected to generate $420 million annually, which …

Michigan Legislators Send Road Funding Bill to Governor | Transportation Investment Advocacy Center

Michigan lawmakers approved legislation in the early hours of Oct. 3 to provide $1.85 billion in new transportation revenue over the next four years. The bipartisan agreement, reached after months of negotiation, will swap the current sales tax at the pump with an equivalent gas tax increase, enact a new, 24 percent tax on the wholesale price of marijuana, and dedicate $500 million from the... Source