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AR SB605
Bill
Status
5/5/2025
Primary Sponsor
Jonathan Dismang
Click for details
AI Summary
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Imposes a 50% excise tax on gross receipts from sales of delta tetrahydrocannabinol (THC) products, including delta-8, delta-9, delta-10, and related compounds
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Covers hemp-derived CBD products containing up to 0.3% delta-9 THC that are not FDA-approved medications, as well as synthetically converted THC products from industrial hemp
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Requires sellers to collect and remit the tax to the Department of Finance and Administration using the same procedures as the Arkansas Gross Receipts Act of 1941
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Authorizes the Secretary of the Department of Finance and Administration to promulgate rules identifying taxable products and enforcing the law
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Takes effect on the first day of the second calendar month following passage of the act
Legislative Description
To Create The Delta Tetrahydrocannabinol Excise Tax Act; And To Tax Delta Tetrahydrocannabinol Products.
Last Action
Died in House Committee at Sine Die adjournment.
5/5/2025