HELENA, MT — Montana Governor Steve Bullock has signed legislation, Senate Bill 333, establishing new regulations for the state’s medical cannabis program and imposing first-ever taxes on gross cannabis sales.
The new law, which takes effect on July 1, imposes a four percent tax on gross sales, payable by cannabis providers.
The tax drops to two percent after June 30, 2018.
Taxes will be earmarked for the newly created ‘Medical marijuana state revenue account.’
Other provisions in the law establish regulatory oversight for licensed providers/manufacturers, dispensaries, and testing labs.
Montana voters in November approved an initiative expanding the state’s 2004 medical marijuana law in a manner that for the first time allows for the licensed production and dispensing of medical cannabis.
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