How Much Legal Pot Will Cost in Connecticut and Where the Money Will Go
Good news Connecticut, cannabis lovers.
The long journey on the road to legal pot in Connecticut might be just a few more exits away. The Hour has reported that the final piece of key legislation has been passed in committee to finally clear the way for legal marijuana in Connecticut.
Let's run the numbers. The Finance Committee has set a $35 per ounce levy on cannabis flowers, also known as bud. The levy on the rest of the marijuana plant has been set at $13.50 per ounce.
Will there be taxes on your "sticky icky?" You betcha. There'll be a 6.35% sales tax on your purchase and a 3% local sales tax, which will benefit the towns where the dispensaries are located. There has been no hint just yet as to where any of the legal weed dispensaries might be located in Connecticut.
The Legislative Finance Committee also predicted their marijuana tax plan should add $57.2 million to the state coffers in 2021. The plan is to funnel most of the cannabis revenue to "community development organizations," which will be approved by the state for job training, education, and community projects.