COLUMBUS – If you plan on buying recreational marijuana in Ohio, you will be paying a lot of extra tax compared to something at the grocery store.
Let’s pretend you spend $50 at a recreational marijuana store. First, you will have the state sales tax of 5.75%, then add an additional 10% tax from the state. The total pro your purchase will be at least $57.87, plus any additional taxes.
So where does that money go? The taxes will go into four different funds.
36% of it will go toward the Cannabis Social Equity and Jobs Fund, another 36% to the Community Cannabis Fund, 25% to substance abuse and addiction prevention programs, and 3% to the Division of Cannabis Control and Tax Commissioner Fund.
The state estimates between $176-$200 million will be collected from these sales. The Cannabis Social Equity and Jobs Fund is one of the most important because it will benefit minorities who were hurt by the criminiliations of marijuana in the past, according to Representative Bride Sweeney.
“First and foremost, that money set aside will be able to increase that minority participation to actually benefit, make a living, have a good paying job and be a business owner within this space that has often left behind minorities,” said Rep. Sweeney.
The money being allocated toward addiction is underfunded, according to Sweeney.
“We do not have enough mental health experts in this state and these dollars can help grow that field,” she added.
Recreational marijuana sales could start anytime. The Division of Cannabis Control said right now there is no exact date.
Rep. Sweeney thinks sales will begin in Ohio before the legislature gets back to session in November.
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