SALT Report 3524 – On November 4, 2014, recreational use of marijuana was legalized by a majority vote that approved Ballot Measure 2, An Act To Regulate the Production, Sale, and Use of Marijuana. “The bill would impose a $50 per ounce (or proportionate) excise tax on the sale or transfer of marijuana from a cultivation facility to a retail store or marijuana product manufacturing facility. The marijuana cultivation facility would pay the tax and send monthly tax statements to the Department of Revenue. The Department of Revenue could exempt certain parts of the marijuana plant from the tax. It could also establish a lower tax rate for certain parts of the plant.” The new tax is expected to generate millions in tax revenue and create more jobs for Alaskans.
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