Dude! Edibles are legal in Minnesota now! But get this, bruh: they’re not taxing it as much as they could. They must be high or something?
Here’s Five Fast Facts About Minnesota Taxing Edibles:
- 🍭Wacky Tabacky - Edibles became legal in Minnesota this past July. The law allows for 5mg of THC per serving and no more than 50mg per package. That’s considerably less potent than what you usually get in states where it’s legal.
- 🚬Is It 4:20 yet? - While there is a sales tax every time someone buys edibles, the state isn’t taking full advantage of the law. There’s no excise tax on edibles unlike alcohol or cigarettes. Seriously?
- 😮Devil’s Lettuce - Researchers say the state is missing out on anywhere from $5M to $46M a year by not collecting taxes. We can wait until you’re done coughing.
- 🤑Jazz Cigarettes - Legislators say there will be a gross sales tax between 2-3% on the edibles, but an excise tax hasn’t been determined yet. They speculate it will probably be the same as the excise tax on beer. Licensing fees will also be included.
- 🧾Blunt Talk - As a point of reference, Colorado brought in $423M in taxes last year from legal weed alone. Imagine what that kind of money could do for infrastructure here.
🔥Bottom line: Lawmakers have made a big mistake here and for some reason they’re trying to downplay it. You don’t hear Colorado residents complaining about excise tax, and like the numbers show above, they’re rolling in green.
Should they apply a higher (heh) excise tax on edibles?
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