Utah Code 59-31-301. Taxation of cannabinoid product
Current as of: 2024 | Check for updates
|
Other versions
(1) A tax is imposed on a cannabinoid product at a rate of .10 multiplied by the retail price.
Terms Used In Utah Code 59-31-301
- Cannabinoid product: means the same as that term is defined in Section
4-41-102 . See Utah Code 59-31-101 - Licensee: means a retailer that holds a valid license under Part 2, Licensing, to sell a cannabinoid product. See Utah Code 59-31-101
- Retail price: means the amount charged by a retailer for a cannabinoid product. See Utah Code 59-31-101
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2)
(2)(a) A licensee shall collect the tax imposed under Subsection (1) from a purchaser at the time the cannabinoid product is sold.
(2)(b) A consumer that purchases or receives an untaxed cannabinoid product shall pay the tax at the time the cannabinoid product is first received in this state.