Fla. Payments Search Hashish Legalization, Taxation

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TCJA Optimization Deal, Extenders Might Pursue Year-End Tax Law - Law 360

Law360 (February 26, 2021, 5:19 PM EST) — Florida would legalize and tax recreational cannabis under two bills introduced in the state House of Representatives.

H.B. 1361 and H.B. 1363 were introduced on Thursday by Rep. Christopher Benjamin, D-Miami Gardens. H.B. 1363 would require cannabis cultivation facilities to pay an excise tax on transfers of cannabis to retailers of $50 per ounce, which would be tied to inflation, according to the bill. The measure also allows for a local excise tax of up to 15% on retail sales, according to the bill. Fees for those applying for cannabis establishment licenses would be capped at $5,000 each.

H.B. 1361 would legalize and regulate…

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