Legal Marijuana May Carry Tax of At Least 1 Per Gram

Ottawa and the provinces and territories could have another $1 billion a year in tax revenues to split after pot becomes legal next year.

Liberal MP Bill Blair, former Toronto police chief and the government’s point man on legalizing marijuana, made public the federal tax proposal for legal pot Friday, kicking off a period of public consultations that ends Dec. 7.

That, Blair said, gives the government just enough time to solicit comments on the proposal so that federal, provincial and territorial finance ministers can discuss it when they meet in Ottawa Dec. 10-11.

The plan would add an excise tax of $1 per gram of marijuana or 10 per cent of the final retail price, whichever is higher, with the revenues to be divided equally between Ottawa and the provinces and territories.

– Read the entire article at CTV News.

Source: Cannabis Culture