Maryland is considering a significant increase in its cannabis tax, which could rise to 12%. This potential hike has raised concerns among advocates in the cannabis industry, as they fear it may push customers back to the unregulated black market for marijuana. The impact of such a tax increase is uncertain, and industry experts are closely monitoring the situation.
Currently, prices for legal cannabis in Maryland have been declining, which could mitigate the effects of the tax increase. Advocates suggest that if the prices remain low, consumers may still prefer legal options over illicit sources, despite the higher taxes. The cannabis market dynamics in Maryland will be crucial to observe as the proposed tax change approaches.
In light of this potential tax increase, industry voices are calling for a thorough evaluation of how it might influence consumer behavior. They emphasize the importance of maintaining competitive pricing in the legal market to avoid driving customers into the hands of illegal sellers. As the situation develops, the Maryland cannabis community remains hopeful that reasonable solutions can be found.
