St. Louis Will Lose A Half-Million Dollars In Marijuana Tax Revenue After Failing To Submit Documents To Missouri Officials

November 26, 2023 · marijuanamoment.net

The city of St. Louis will lose approximately $500,000 in tax revenue after it failed to submit documents with the Missouri Department of Revenue to collect a voter-approved recreational marijuana tax.

City voters approved a 3 percent tax on recreational marijuana in April. State law would have allowed the city to begin collecting the tax on October 1 if paperwork was filed by June 30.

Bill 139 was passed unanimously by the St. Louis Board of Aldermen last December to ask voters for permission to tax recreational marijuana by 3 percent. The state tax on recreational marijuana was set at 6 percent when Missouri voters approved the initiative last November.

“The City wishes to impose an additional sales tax to support efforts for the residents of the City of St. Louis to address historic inequalities,” the bill stated. “These efforts may include but are not limited to funding access to education, workforce opportunities, and youth engagement.”

“This is absolutely a preventable misstep,” Cara Spencer, a Democratic alderwoman who lost to Tishaura Jones in last year’s mayoral race, told KSDK. “I’m hoping that we can get to the bottom of it in our budget committee…exactly what happened here, what went wrong and make sure that we have clearly defined roles in our city departments that can prevent something like this from happening ever again.”

The mistake will result in a loss of between $480,000 and $600,000 in tax revenue, according to reports by multiple media outlets. The loss is based on estimated sales projected by the city.

Nick Dunne, a spokesman for Jones, told the St. Louis Post-Dispatch a city finance employee alerted the mayor’s office about the problem on November 13.

“We’re grateful that they told us because we had no idea,” Dunne said.

The city submitted the proper documents and secured a waiver this week to begin imposing the tax in January, according to the Post-Dispatch report.

“We are looking at what we can do to more clearly define lines of responsibility,” Dunne said. (Full Story)

In category:Business
Tags:
Next Post

Women of Influence: Rosie Mattio

As founder of MATTIO Communications, the largest cannabis-focused marketing and public relations agency in North America, Rosie Mattio is considered a powerhouse PR person.  Since launching the firm as a one-woman operation in 2004, Mattio has redefined conversations around the…
Read
Previous Post

Cannabis multistate operators exit more states in latter half of 2023

After years of rapid expansion – and, more recently, swift exits – some of the nation’s largest cannabis multistate operators have continued to streamline operations this year, according to MJBizDaily’s latest update on the operations of several of the nation’s largest MSOs. Two…
Read
Random Post

Congress Postpones First-Ever Hearing On Psychedelics And Veterans Mental Health Care

A congressional subcommittee’s hearing on the use of psychedelic-assisted treatments for mental health disorders that was originally scheduled for Thursday has been postponed, the panel announced after another failed vote to elect a House speaker on Wednesday. It’s not yet…
Read
Random Post

Brian Cox Says 'Succession' Co-Star Jeremy Strong Should 'Have a Hit of Marijuana'

The star of the hit show Succession, Brian Cox, started smoking pot when he was 50. Now that he's 76 and the winner of the Golden Globe for Best Actor in a TV Series - Drama in 2020 for his role as Logan…
Read
Random Post

Over 700 People Legally Tripped Shrooms in Oregon This Year

Psilocybin treatment centers in Oregon have administered magic mushrooms to over 700 people in 2023, the inaugural year of the program. Numbers reported by the Seattle Times who cited the Healing Advocacy Fund, a non-profit organization which supports the advancement of psychedelic…
Read
Random Post

Oklahoma Extends Medical Cannabis Licensing Moratorium Through 2026

Oklahoma has extended its moratorium on new medical cannabis licenses until 2026, Tulsa World reports. The legislation does allow the state Medical Marijuana Authority (OMMA) to end the moratorium if its leadership “determines all pending licensing reviews, inspections or investigations are complete.”…
Read