New Mexico recently made recreational marijuana legal in the state and in a new move, has decided to stop charging sales tax on medicinal marijuana.
The state will also start to revise current limits on pot cultivation on June 29th.
Both moves were announced by health and licensing regulators on Wednesday in a letter to authorized cannabis businesses.
Democratic Gov. Michelle Lujan Grisham enacted legislation in April that outlines the oversight, licensing and taxation of the recreational cannabis sector and sets an April 1, 2022, deadline for the first nonmedical marijuana sales.
The possession of up to 2 ounces (56 grams) of marijuana becomes legal on June 29 — but that recreational marijuana sales won’t kick off until later. The deadline for initiating those sales is April 1, 2021, and potentially earlier.
“Rulemaking will include revisions to existing producer plant limits, although the content of the proposed rules has not yet been determined,” the letter from regulators states. “The proposed rules will be made available to the public in late May, and a public hearing will be scheduled to occur on June 29, 2021, or shortly thereafter. Our agencies will welcome the input of medical cannabis producers and other interested members of the public as part of that rulemaking process.”
Purchases by medical marijuana patients are still limited to a 90-day supply that some patients have challenged as inadequate and the limit will increase.
A new excise tax of 12% on recreational cannabis sales will not apply to medical cannabis for qualified, registered patients.
