Maine Revised Statutes Title 36 Sec. 4923-A – Calculation of excise tax imposed on wet cannabis flower and wet cannabis trim
Current as of: 2023 | Check for updates
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Terms Used In Maine Revised Statutes Title 36 Sec. 4923-A
- Tax: means the total amount required to be paid, withheld and paid over or collected and paid over with respect to estimated or actual tax liability under this Title, any credit or reimbursement allowed or paid pursuant to this Title that is recoverable by the assessor and any amount assessed by the assessor pursuant to this Title, including any interest or penalties provided by law. See Maine Revised Statutes Title 36 Sec. 111
- Wet cannabis flower: means cannabis flower that is not dried, cured or otherwise prepared in any manner to reduce or eliminate any water weight. See Maine Revised Statutes Title 36 Sec. 4921
- Wet cannabis trim: means cannabis trim that is not dried, cured or otherwise prepared in any manner to reduce or eliminate any water weight. See Maine Revised Statutes Title 36 Sec. 4921
For purposes of the excise tax imposed pursuant to section 4923 on wet cannabis flower or wet cannabis trim, a cultivation facility licensee shall calculate the taxable weight by reducing the total weight of the wet cannabis flower or wet cannabis trim by 75% before applying the excise tax. [PL 2021, c. 323, §5 (NEW); PL 2021, c. 669, §5 (REV).]
SECTION HISTORY
PL 2021, c. 323, §5 (NEW). PL 2021, c. 669, §5 (REV).