NASHVILLE, Tenn. (WZTV) -New legislation filed in the Tennessee General Assembly would allow for the sale of marijuana along with a 12% tax that would go toward funding education and infrastructure.
Under the bill, a person or entity would need to have a registered business, a license from the state and be in compliance with the Business Tax Act. The bill would apply for the growing, processing, manufacturing, delivery and sale of marijuana. Those licensed would also be able to sell only at locations zoned for sale.
Sale would only be allowed to those 21 and older and sales would be regulated to a 1/2 ounce.
A 12% sales tax would be levied on marijuana sales with 20% of taxes going to the state's general fund, 50% going towards education, and 30% going towards infrastructure projects.
See the full bill below or CLICK HERE: