California AB1397 imposes a 10% excise tax on low-dose hemp drinks and regulates their sale.

California AB1397 introduces a 10% excise tax on low-dose hemp drinks, defined as beverages containing hemp with a total THC concentration not exceeding 0.3%. The tax applies to gross receipts from retail sales and is collected by retailers, who must provide a separate statement of the tax on invoices or receipts. The Low-Dose Hemp Drink Excise Tax Fund is established to manage the collected taxes, which are used to reimburse the California Department of Tax and Fee Administration and the State Department of Public Health for their enforcement and administrative costs.

California AB1397 imposes a 10% excise tax on low-dose hemp drinks and regulates their sale.

California AB1397 introduces a 10% excise tax on low-dose hemp drinks, defined as beverages containing hemp with a total THC concentration not exceeding 0.3%. The tax applies to gross receipts from retail sales and is collected by retailers, who must provide a separate statement of the tax on invoices or receipts. The Low-Dose Hemp Drink Excise Tax Fund is established to manage the collected taxes, which are used to reimburse the California Department of Tax and Fee Administration and the State Department of Public Health for their enforcement and administrative costs.