The legalization of recreational marijuana under the Control, Regulate, and Tax Adult Use of Marijuana Act (AUMA) is expected to generate hundreds of millions of dollars in additional state and local tax revenues annually. AUMA imposes new state taxes on the cultivation and retail sale of both medical and recreational marijuana and allows local governments to tax recreational marijuana. Approximately 80 municipalities have adopted local taxes related to marijuana and many more are currently in discussions on the topic.
The webinar presenters explain the taxes imposed under AUMA, review the new funds and programs established under the new law, and describe the variety of options and strategies available to local jurisdictions that are interested in placing a marijuana tax on the ballot.