Taxation and legalization discussed around cannabis

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NASHVILLE, Tenn. (WTVF) – At the same time that some lawmakers are considering the legalization of medical cannabis, a bill has also been introduced to tax cannabis products.

Republican State Representative. Chris Hurt has introduced a bill to tax everything made from cannabis in Tennessee.

This includes Delta-8 THC, which is made from CBD and has psychoactive effects similar to Delta-9 THC, the compound in cannabis that gets people high. The bill also sets the legal age to purchase Delta-8 at 21.

The tax rate is 6.6%.

“We believe the industry is ready to start generating revenue to exercise some oversight and bring legitimacy and credibility to [it]“, Rep. Hurt said.

Other lawmakers are also considering bills to legalize medical marijuana.

Representative Bryan Terry, a Republican and physician from Murfreesboro, plans to introduce the bill. It takes into account a recommendation from the Medical Cannabis Task Force, but lawmakers are not bound to follow their advice.

The idea of ​​cannabis taxation comes from the Tennessee Growers Coalition.

“The reason we want it is because we want to be good citizens and these products, Delta 8 and other hemp-derived THCs, are really everywhere,” said Joe Kirkpatrick, president of TGC. “We want to make sure, like we did with smokable hemp, that we make these 21 pluses. These have psychoactive effects. People need to be careful when taking them and children don’t have need to have it.”

There is also a licensing section in the bill. Kirkpatrick said the state could benefit from millions of dollars in revenue.

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