Tax Archives | Drummond Woodsum Cannabis Law Consulting

New Sales Tax Guidance for Maine Marijuana Businesses

Maine Revenue Services published updated documents explaining requirements and exemptions for both medical and adult use marijuana establishments.

Tobacco Licenses Required for Maine Cannabis Businesses Selling Certain Products

All stores must obtain a retail tobacco license in order to sell items like vape cartridges/batteries, rolling papers, pipes, and other smoking paraphernalia. Electronic smoking devices are also subject to an additional 43% excise tax.

First Recreational Marijuana Sales in Maine

The six stores that launched sales on October 9 generated $258,411.58 in sales dollars and $25,841.16 in total sales tax revenue to the state collectively over the long weekend, according to the Office of Marijuana Policy.

Calculations

Maine Adopts Emergency Rule to Allow Wet Weight Conversion for Excise Tax

The change allows for a 75 percent conversion rate for wet weight to dry weight on an excise tax that is calculated per pound of marijuana.

Calculations

FAQs for Cannabis Businesses Applying for Tax ID Numbers in Maine

Adult use marijuana businesses must provide evidence of the required tax registrations as part of the application for an active license.

Our full service Cannabis Law practice offers an unmatched understanding of the nuanced local, state, and federal laws affecting this vibrant emerging market. We use a coordinated multidisciplinary approach to solve the complex regulatory, economic and operational challenges facing our clients in Maine and across the country. Our clients range from businesses interested in entering the cannabis sector such as adult-use marijuana, medical marijuana and hemp cultivators, processors, distributors and dispensaries to those dealing with companies in the cannabis sector, such as suppliers, real estate developers, and investors.