FL S1940

Creates an excise tax of $50 per ounce on marijuana sales from cultivation facilities to retail stores or manufacturing facilities, with annual inflation adjustments beginning in 2023.

Requires marijuana cultivation facilities to file monthly tax returns and maintain records of all marijuana products sold or transferred; allows tax credits for destroyed or returned products.

Distributes excise tax revenues with 15 percent transferred to the Alcoholic Beverage, Marijuana, and Tobacco Trust Fund and the remainder to the Child Care Trust Fund.

Authorizes application fees not to exceed $5,000 for marijuana establishment licenses and allows applicants to hold multiple license types, except testing facilities cannot hold other licenses.

Establishes criminal penalties of third-degree felonies for willfully making false entries in required records or violating excise tax provisions; requires annual reporting of tax revenues to legislative committees beginning January 30, 2023.