Maine LD1942 establishes a 20% sales tax on hemp and hemp products containing THC, effective January 1, 2026.

Maine LD1942 introduces a sales tax of 20% on hemp and hemp products containing tetrahydrocannabinol (THC), effective January 1, 2026. It also modifies the transfer percentage of the adult use cannabis sales tax and excise tax to the Adult Use Cannabis Public Health and Safety and Municipal Opt-in Fund, reducing it from 12% to 6%. The bill changes the method of taxation for adult use cannabis products to 10% of the average wholesale price. The tax revenue from adult use cannabis sales will be deposited into the General Fund, with a portion transferred to the specified fund.

Maine LD1942 establishes a 20% sales tax on hemp and hemp products containing THC, effective January 1, 2026.

Maine LD1942 introduces a sales tax of 20% on hemp and hemp products containing tetrahydrocannabinol (THC), effective January 1, 2026. It also modifies the transfer percentage of the adult use cannabis sales tax and excise tax to the Adult Use Cannabis Public Health and Safety and Municipal Opt-in Fund, reducing it from 12% to 6%. The bill changes the method of taxation for adult use cannabis products to 10% of the average wholesale price. The tax revenue from adult use cannabis sales will be deposited into the General Fund, with a portion transferred to the specified fund.