More and more state lawmakers across the United States are considering opening new, legal cannabis markets. With the new market system, legislators are also looking at new tax systems to help support and develop industry standards. The Process of tracking and monitoring cannabis taxes good strategy that allows the local governments to identify bad actors and address the illegal market. Furthermore, many states are talking about the additional state revenue of the cannabis market and taxes. However, there is no federal standard in the cannabis market; tax rates for both medical and adult-use markets vary from state to state. The extensive burdensome layers of taxation may undermine the cannabis marketplace and turn consumers and businesses away towards the unregulated market.
– Forbes, July 15th, 2020