let me check my bookmarks here.. I have the proposed bill, I think it is unchanged since I bookmarked it since it has just been sitting idly by awaiting its committee discussions.
on re-skimming the legislation it does have a sliding tax scale.. the outrageous $250 figure just happened to be what stuck in my mind.
Adjusting those tax rates downward prior to passage and leaving that clause in bold intact is crucial for the success of the legislation (they need to define "from time to time" and review regularly, especially at the onset of enactment). Minimizing incentive for illegal sale should be the #1 priority, not greed for maximizing revenue, but I fear greed will overrun.Section 9. The authority shall impose and collect an excise upon sales at retail of cannabis. The rate of said excise is hereby established as follows:
Class C One hundred fifty dollar per ounce
Class B Two hundred dollars per ounce.
Class A Two hundred fifty dollars per ounce.
Subject to approval by the general court, such excise shall be adjusted by the authority from time to time as necessary to maximize the revenue derived therefrom, and to minimize the incentive for the sale of cannabis not in accordance with the provisions of this act.
edit for info on the difference between class A, B and C:
Almost all the marijuana you will find on the street is going to be at least 5% THC, so the only 2 relevant tax rates are class A and class B. the $200/oz tax itself is higher than current black market price for comparable THC contentAll cannabis sold by processors shall be analyzed and graded as follows:
(1) If said cannabis contains more than 1% THC and less than 5% THC, then said cannabis shall be labeled “C”.
(2) If the cannabis contains 5% or more than 5% and less than 10% THC, then said cannabis shall be labeled “B”.
(3) If the cannabis contains 10% THC or more, then said cannabis shall be labeled “A”.