Michigan’s legal cannabis sector has launched a second legal challenge against a recently implemented 24% wholesale tax. According to the lawsuit, the levy, which took effect at the start of the year, pushes the overall tax burden on marijuana beyond limits established in the state constitution.
Complaints about excessive taxes on legal marijuana in the U.S. aren’t new. Similar complaints have been raised in many jurisdictions where ancillary firms like Innovative Industrial Properties Inc. (NYSE: IIPR) have cannabis businesses as…
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