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Cannabis industry pushes flat excise tax to curb cross-border sales and illicit market
Summary
Industry witnesses and retailers told the committee that Connecticut's potency-based cannabis tax is driving consumers to buy across state lines and on the illicit market. Business leaders urged replacing it with a single retail excise near 10.65% to simplify compliance and improve competitiveness with Massachusetts.
Cannabis business owners and trade groups told the Finance, Revenue & Bonding Committee that Connecticut's current potency-based excise tax is too complex and makes legal products less competitive than neighboring states', pushing millions annually out of state or into the illicit market.
"Connecticut currently uses a potency-based tax system," said Kebra Smith Balden, owner of a licensed dispensary. "Depending on the product, consumers can pay up to 35% in taxes." Several…
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