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Proposed Michigan Regulation and Taxation of Marihuana Act – Taxation

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Voting for Marijuana legalization is coming to the Michigan electoral ballot this Tuesday, November 6, 2018. Here is information regarding the Age Regulation in the Proposed Michigan Regulation and Taxation of Marihuana Act

Get Out and Vote.

 

Komorn Law receives questions on a daily basis from medical marijuana patients, growers and prospective marijuana business owners about how it differs from the current Michigan Medical Marihuana Act.

The ballot is expected to pass and it is important for Michigan marijuana business owners to know what the ballot initiative is about.

Officially called the Michigan Regulation and Taxation of Marihuana Act, was written by the Coalition to Regulate Marijuana Like Alcohol (RMLA).

The main proposals in the ballot.

Here is a brief look at the proposed distribution of taxes…

Taxation

  • The marihuana regulation fund is created in the state treasury. The department of treasury shall deposit all money collected under section 13 of this act and the department shall deposit all fees collected in the fund. The state treasurer shall direct the investment of the fund and shall credit the fund interest and earnings from fund investments. The department shall administer the fund for auditing purposes. Money in the fund shall not lapse to the general fund.2. Funds for the initial activities of the department to implement this act shall be appropriated from the general fund. The department shall repay any amount appropriated under this subsection from proceeds in the fund.

    3. The department shall expend money in the fund first for the implementation, administration, and enforcement of this act, and second, until 2022 or for at least two years, to provide $20 million annually to one or more clinical trials that are approved by the United States food and drug administration and sponsored by a non-profit organization or researcher within an academic institution researching the efficacy of marihuana in treating the medical conditions of United States armed services veterans and preventing veteran suicide. Upon appropriation, unexpended balances must be allocated as follows:

    (a) 15% to municipalities in which a marihuana retail store or a marihuana microbusiness is located, allocated in proportion to the number of marihuana retail stores and marihuana microbusinesses within the municipality

    (b) 15% to counties in which a marihuana retail store or a marihuana microbusiness is located, allocated in proportion to the number of marihuana retail stores and marihuana
    microbusinesses within the county;

    (c) 35% to the school aid fund to be used for K-12 education; and (d) 35% to the Michigan transportation fund to be used for the repair and maintenance of roads and bridges.

More Info


Have you been charged with a drug crime or violation of the Michigan Medical Marijuana Act? Remain Silent and Contact Komorn Law Immediately to protect your rights and freedom 800-656-3557.

 

About Komorn Law

Komorn Law has represented numerous clients through the legal chaos of starting up a business in the Michigan Medical Marihuana Industry.

If you or someone you know is facing charges as a result of Medical Marijuana, DUI, Drugs, Forfeiture, Criminal Enterprise, etc. Please contact our office and ensure you’re defended by an experienced lawyer in the evolving laws.

Lead attorney Michael Komorn is recognized as an expert on the Michigan Medical Marihuana Act. He is the President of the Michigan Medical Marijuana Association (MMMA), a nonprofit patient advocacy group which advocates for the rights of medical marijuana patients and their caregivers.

Contact us for a free no-obligation case evaluation
800-656-3557.

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Laws change – so please consult an attorney before taking any legal action or doing anything you may have the slightest feeling is illegal when it comes to marijuana / cannabis personal or commercial use.

The post Proposed Michigan Regulation and Taxation of Marihuana Act – Taxation appeared first on Komorn Law.

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