B.C. municipalities want province to share cannabis tax money from FedsPosted by On

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A group advocating on behalf of municipalities and some First Nations across B.C. wants the province to share its cannabis excise tax revenue.
The Union of B.C. Municipalities’ outgoing president Maja Tait said Friday that 99 per cent of the group’s 189 members voted in favour of seeking a portion of the revenue this week at a convention.
The excise cannabis tax is paid by licensed cannabis producers when their products are delivered to a retailer or customer and the federal government retains 25 per cent of the money up to $100 million a year.
The remaining 75 per cent is given to provinces and territories, which have the option to pass it along to municipalities.
According to the union, B.C. is expected to receive $50 million in revenue from the excise tax in the fiscal 2020-2021 year.
“There’s been two years now with the legal (cannabis) framework that is providing millions of dollars in taxation revenue to the province and the federal government and we’re not…

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