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US: State and Tribes consider tax agreement for sharing cannabis revenue

Several state representatives, including Lt. Gov. Kristen Juras, were in Polson on Wednesday, April 26, for a public hearing on a proposed agreement between the Tribes and the State of Montana regarding marijuana taxation. Only one member of the public attended.

The hearing, held at KwaTaqNuq Resort, sought public input on the first-of-its-kind agreement between a Montana tribe and the state over the regulation and taxation of marijuana within reservation boundaries.

Under the agreement, the Tribes will adopt an ordinance imposing taxes equal to those imposed by the state. The Department of Revenue will continue to collect those taxes and will remit a portion to the Tribes each quarter.

Currently, the state assesses 20% on sales of adult-use cannabis and 4% on sales of medical marijuana. Lake County’s 3% local option tax would not be affected by the agreement.

Since recreational marijuana sales began in January 2022, estimated sales are at $381 million, which has generated around $58.3 million in tax revenue. In March alone, cannabis sales in Lake County were estimated at $538,782. 

Read the entire article at Leader Advertiser 

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