Right now, cannabis is taxed a flat rate of 37% regardless of strain or THC content, and has been since Initiative 502 was passed in 2012 and went into effect in 2014.
OLYMPIA, Wash.- Lawmakers in Washington are arguing that a proposed capital gains tax is not an income tax… but rather an excise tax, or tax on goods.
"Having talked with the IRS and every single revenue director in the country, there is not a single tax authority that says that taxing income is an excise tax," says Jason Mercier with the Washington Policy Center.
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