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Minnesota’s cannabis retailers gear up for a new tax policy

Moorhead, Minnesota – In an effort to regulate the commercialization of cannabis, Minnesota will instate a ten percent tax on the commodity effective from the 1st of July. The current legislation only permits the sale of edible cannabinoid and non-intoxicating topical products.

These sales will also be subject to the standard state sales tax, which stands at approximately seven percent, as well as any pertinent local sales taxes. In anticipation of this forthcoming tax increase, many retailers have initiated campaigns to inform their customers of the change, offering them the opportunity to purchase their products ahead of time, and thereby avoid the imminent price increase.

“The present sales policy in Moorhead, and Minnesota more generally, does not include a cannabis tax. Consequently, a product listed for $20 will cost exactly that. However, starting this Saturday, there will be a near 18% price surge due to the new tax. Thus, for those intending to purchase such products in the future, the present moment offers a relatively discounted rate,” said Nate Haugen from Junkyard Brewing Company.

There is, however, an exception to this new tax policy. Those holding a medical card will be exempt from the cannabis tax, a move designed to ensure the affordability of medicinal cannabis products for those who need them.

Mitch Havens

Mitch holds a distinguished position as a foremost authority at Fargo News Now. Drawing upon his prior expertise garnered from renowned publications such as CNN and Time, our ambitions extend beyond merely serving the local community, as we also aspire to make a national impact in the realm of journalism.

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