Minnesota begins collecting new taxes on THC products, revenues poised to grow
Oct 21, 2023 06:58AM ● By Content Editor
Photo: Matthew Brodeur
By Caroline Cummings - CBS Minnesota News - October 20, 2023
By Caroline Cummings - CBS Minnesota News - October 20, 2023
Minnesota has collected $1.5 million in revenues from a new surcharge on hemp-derived THC edibles sales, according to preliminary data from the first two months of the tax that took effect this summer.
In addition to existing sales taxes, the state legislature on June 30 implemented a 10% gross receipts tax on the products legalized last summer as long as the THC comes from hemp plants.
To read the full story, visit the CBS Minnesota News site here.