Section 333.27962 – Deduction of Certain Expenses From Income.
333.27962 Deduction of certain expenses from income. Sec. 12. In computing net income for marihuana establishments, deductions from state taxes are allowed for all the ordinary and necessary expenses paid or incurred during the taxable year in carrying out a trade or business. History: 2018, Initiated Law 1, Eff. Dec. 6, 2018 Compiler’s Notes: This […]
Section 333.27963 – Imposition of Excise Tax.
333.27963 Imposition of excise tax. Sec. 13. 1. In addition to all other taxes, an excise tax is imposed on each marihuana retailer and on each marihuana microbusiness at the rate of 10% of the sales price for marihuana sold or otherwise transferred to anyone other than a marihuana establishment. 2. Except as otherwise provided […]
Section 333.27964 – Marihuana Regulation Fund; Creation; Administration; Allocation of Expenditures.
333.27964 Marihuana regulation fund; creation; administration; allocation of expenditures. Sec. 14. 1. The marihuana regulation fund is created in the state treasury. The department of treasury shall deposit all money collected under section 13 of this act and the department shall deposit all fees collected in the fund. The state treasurer shall direct the investment […]
Section 333.27965 – Violations; Penalties.
333.27965 Violations; penalties. Sec. 15. A person who commits any of the following acts, and is not otherwise authorized by this act to conduct such activities, may be punished only as provided in this section and is not subject to any other form of punishment or disqualification, unless the person consents to another disposition authorized […]
Section 333.27966 – Failure to Act by Department; Application to Municipality.
333.27966 Failure to act by department; application to municipality. Sec. 16. 1. If the department does not timely promulgate rules as required by section 8 of this act or accept or process applications in accordance with section 9 of this act, beginning one year after the effective date of this act, an applicant may submit […]
Section 333.27967 – Construction of Act; Effect of Federal Law; Severability.
333.27967 Construction of act; effect of federal law; severability. Sec. 17. This act shall be broadly construed to accomplish its intent as stated in section 2 of this act. Nothing in this act purports to supersede any applicable federal law, except where allowed by federal law. All provisions of this act are self-executing. Any section […]
Section 333.27955 – Lawful Activities by Person 21 Years of Age or Older; Terms, Conditions, Limitations, and Restrictions; Denial of Custody or Visitation Prohibited.
333.27955 Lawful activities by person 21 years of age or older; terms, conditions, limitations, and restrictions; denial of custody or visitation prohibited. Sec. 5. 1. Notwithstanding any other law or provision of this act, and except as otherwise provided in section 4 of this act, the following acts by a person 21 years of age […]
Section 333.27956 – Adoption or Enforcement of Ordinances by Municipality; Marihuana Establishment Local License; Annual Fee; Restrictions on Transportation or Other Facilities Prohibited.
333.27956 Adoption or enforcement of ordinances by municipality; marihuana establishment local license; annual fee; restrictions on transportation or other facilities prohibited. Sec. 6. 1. Except as provided in section 4, a municipality may completely prohibit or limit the number of marihuana establishments within its boundaries. Individuals may petition to initiate an ordinance to provide for […]
Section 333.27957 – Implementation, Administration, and Enforcement by Department; Powers; Duties; Public Meetings; Annual Report.
333.27957 Implementation, administration, and enforcement by department; powers; duties; public meetings; annual report. Sec. 7. 1. The department is responsible for implementing this act and has the powers and duties necessary to control the commercial production and distribution of marihuana. The department shall employ personnel and may contract with advisors and consultants as necessary to […]
Section 333.27958 – Rules; Limitations.
333.27958 Rules; limitations. Sec. 8. (1) The marijuana regulatory agency shall promulgate rules to implement and administer this act that include all of the following: (a) Procedures for issuing a state license pursuant to section 9 and for renewing, suspending, and revoking a state license. (b) A schedule of fees in amounts not more than […]