Marijuana Taxation in New Hampshire

How Is Marijuana Taxed in New Hampshire?

Marijuana is not taxed in New Hampshire, since recreational marijuana remains illegal in the state. The New Hampshire Department of Revenue Administration does not collect taxes on the sale or possession of marijuana because it is prohibited under both state and federal law.

What Is The Tax Rate For Recreational Marijuana in New Hampshire?

At this time, recreational marijuana is still illegal in New Hampshire.

Are Medical Marijuana Products Subject To Taxation in New Hampshire?

No, medical marijuana products are not subject to taxation in New Hampshire. The state’s medical marijuana program is exempt from state taxes, both excise and sales taxes.

What Are The Specific Taxes Applied To Marijuana Sales in New Hampshire?

The State of New Hampshire has not legalized recreational marijuana, so there are no taxes applied to marijuana sales in the state.

Is There A Difference In Taxation Between Marijuana Flowers And Marijuana-Infused Products in New Hampshire?

Yes. In New Hampshire, marijuana flowers are subject to a 10% excise tax as well as the standard 9% sales tax. Marijuana-infused products, meanwhile, are subject to an additional 10% excise tax on top of the 9% sales tax.

How Do Local Governments Participate In The Taxation Of Marijuana in New Hampshire?

Local governments in New Hampshire have the authority to tax marijuana products, but they are not currently doing so. The New Hampshire Department of Revenue Administration is currently responsible for the taxation of marijuana in the state. This includes a 9% state tax on cultivated marijuana that is imposed when the product is sold to a retail outlet. Additionally, municipalities may impose a local option tax of up to 5% on recreational marijuana sales. These local option taxes must be approved by voters in the municipality before they can be imposed.

Are There Additional Excise Taxes On Marijuana At The State Or Local Level in New Hampshire?

Yes, there are additional excise taxes on marijuana at the state and local level in New Hampshire. These taxes are imposed on retailers and cultivators of marijuana and can vary based on the amount of marijuana sold or produced.

What Is The Revenue Generated From Marijuana Taxation Used For in New Hampshire?

In New Hampshire, the revenue generated from marijuana taxation is used to fund the state’s Alcohol and Drug Abuse Prevention and Treatment Program, which provides services for individuals suffering from substance use disorders. The money is also used to fund public health programs, mental health programs, and other services for people with substance abuse issues.

Are There Tax Exemptions Or Reductions For Medical Marijuana Patients in New Hampshire?

No, there are currently no tax exemptions or reductions for medical marijuana patients in New Hampshire.

Is There A Difference In Taxation For Homegrown Marijuana Versus Purchased Marijuana in New Hampshire?

Yes, there is a difference in taxation for homegrown marijuana versus purchased marijuana in New Hampshire. Homegrown marijuana is not subject to any form of taxation; however, purchased marijuana is subject to the state’s 8% sales tax.

What Is The Impact Of Marijuana Taxation On The Price Of Marijuana Products in New Hampshire?

The impact of marijuana taxation on the price of marijuana products in New Hampshire will depend largely on the amount of tax imposed. If the tax rate is too high, it could lead to higher prices for consumers, resulting in less demand and decreased sales. On the other hand, a lower tax rate could lead to lower prices and increased demand for marijuana products in New Hampshire. The amount of tax imposed on marijuana is still up for debate in New Hampshire, so it remains to be seen how it will affect the price of marijuana products.

Are There Tax Incentives For Licensed Marijuana Businesses in New Hampshire?

No, there are no tax incentives for licensed marijuana businesses in New Hampshire. Although marijuana is legal for medical use in New Hampshire, recreational use is still prohibited.

How Do States Track And Collect Taxes On Marijuana Sales in New Hampshire?

New Hampshire requires all marijuana businesses to register and acquire a “Marijuana Establishment License” from the New Hampshire Liquor Commission. Businesses must submit monthly reports to the Liquor Commission regarding their marijuana sales, which include information on the amount of marijuana sold, the price per unit, and the tax due. The NH Liquor Commission then collects the taxes due according to the monthly reports. Additionally, marijuana businesses must also pay annual fees to the NH Liquor Commission.

What Are The Penalties For Tax Evasion Or Non-Compliance By Marijuana Businesses in New Hampshire?

Tax evasion and non-compliance by marijuana businesses in New Hampshire can result in criminal penalties. According to state law, engaging in tax evasion or other intentional forms of non-compliance is a felony punishable by up to three years in prison and a fine up to $25,000 for a first offense. A subsequent offense is punishable by up to five years in prison and a fine up to $50,000. In addition, any business found guilty of tax evasion or non-compliance may be refused a license or denied the right to operate as a marijuana business in the state.

Is There A Tax On Marijuana Cultivation Or Production in New Hampshire?

No, in New Hampshire there is currently no tax on marijuana cultivation or production.

Are Marijuana Edibles And Infused Products Subject To Additional Taxes in New Hampshire?

No, marijuana edibles and infused products are not subject to additional taxes in New Hampshire. However, they are subject to the New Hampshire Meals and Rooms Tax, which is 7 percent.

What Is The Overall Economic Impact Of Marijuana Taxation in New Hampshire?

At this time, the overall economic impact of marijuana taxation in New Hampshire is not known. The state has not legalized recreational marijuana and does not have any existing tax on medical marijuana. In November 2020, however, New Hampshire voters voted to legalize recreational cannabis starting in 2021. Although the state has yet to pass any legislation on taxation or regulations, it is estimated that legalizing recreational cannabis could generate millions of dollars in tax revenue for New Hampshire. This revenue could be used to fund important state programs and initiatives, such as public health programs and educational programs.

How Does [State Name] Compare To Other States In Terms Of Marijuana Tax Rates And Revenue in New Hampshire?

New Hampshire does not currently have any taxes or regulations on the sale and cultivation of marijuana. In the event that marijuana is legalized, however, the New Hampshire legislature would likely create a taxation system similar to those of other states. As of 2021, states like Oregon, Colorado, and Washington have some of the highest excise taxes on marijuana products, ranging from 17% to 37%. This is compared to the average excise tax rate of 9.12% for all states combined.

New Hampshire could also look to other states for guidance on how to structure its marijuana taxation system and maximize revenue. For example, some states have adopted weight-based taxes for cannabis concentrates, while others have levied taxes on marijuana sales based on potency or weight. In addition, New Hampshire could consider using tax credits and deductions to incentivize businesses to participate in the legal marijuana market. By learning from the successes and failures of other states, New Hampshire can ensure that its marijuana taxation system is efficient and fair.

Is There A Cap On The Total Tax Revenue That Can Be Collected From Marijuana Sales in New Hampshire?

No, there is no cap on the total tax revenue that can be collected from marijuana sales in New Hampshire. The state’s current tax rate for marijuana is 15% of the wholesale price, and all revenue generated from marijuana taxes goes to the state’s general fund.

Where Can I Find Detailed Information About Marijuana Taxation Laws And Regulations in New Hampshire?

The New Hampshire Department of Revenue Administration provides detailed information about marijuana taxation laws and regulations in the state on its website. The page includes links to the statutes, rules, and forms necessary for businesses to pay taxes on cannabis. Additionally, the department has a Marijuana Taxpayer Information Line (877-777-8720) for citizens to call with questions about marijuana taxation.