McDonald Hopkins member David Kall talks tax impact of Ohio's Issue 2 in Crain's Cleveland

David Kall's personal view on what businesses need to know about the tax impact of Ohio's Issue 2 was recently published in Crain's Cleveland.

Kall, the Managing Member of McDonald Hopkins' Cleveland office and chair of the Tax and Benefits Practice Group, offered the latest on the evolving state law that granted Ohioan's recreational marijuana use.

An excerpt from the article is below.

Under the law, dispensaries will be subject to a 10% excise tax on each sale of recreational cannabis in addition to Ohio sales tax. The Coalition to Regulate Marijuana Like Alcohol estimates that the law will generate several million dollars of tax revenue annually with proceeds from the 10% excise tax benefiting several community funds, including funds for cannabis social equity and substance abuse treatment programs. While the tax will provide benefits through increased state and local tax revenue, it also will increase consumer costs and burden taxpayers by implementing additional compliance requirement.

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