NM cannabis tax hike no big deal so far

Texas is in turmoil and it's not only a failed state it's the least free in America: from Spring wildfires to deadly flooding to gas pipeline explosions to hurricanes to over seven hundred cases of measles to enriching New Mexico's cannabis retailers. 

Yes, with overwhelming support from Texans cannabis sales in New Mexico are nearing $2 billion since legalization and some $87 million added to the General Fund. On July 1 the NM cannabis excise tax reached 13% and will increase 1% each year until July 2030 when it will hit 18% as set in state statute.

On Tuesday an interested party paid $65 in Santa Fe for an ounce of flower containing almost 24% THC as competition weeds out the weak but a quick glance at the Native Nations Cannabis website on the Flandreau Santee Sioux Nation revealed prices four times higher than that.

According to Tax Foundation, a research think tank that tracks state and federal tax policy, the tax on gross receipts in California is 15%, 15% in Colorado and 20% in Montana. The Tax Policy Center, another think tank based in Washington, D.C., notes the state of Washington levies a 37% excise tax on cannabis sales that is paid by consumers and remitted by retailers. In Arizona, cannabis at state-regulated dispensaries is subject to a 16% excise tax. [Tax hike to squeeze New Mexico cannabis dispensaries, buyers, owners say]

In a related story, Santa Fe is ranked the best US travel destination for its natural beauty, food, and culture according to Travel + Leisure Magazine.

As readers are likely aware ip hasn't been straining under the weight of A LOT people coming here amid record traffic so thank YOU for your readership and for caring enough to follow the politics of the environment and cannabis in the Mountain West and beyond!