Bill > HR1014

This bill, the Marijuana Tax Revenue Act of 2015, amends the Internal Revenue Code to establish a federal tax system for marijuana. It imposes an excise tax on the sale of marijuana by producers or importers, with the tax rate increasing over time from 10% to 25%. Additionally, it levies an annual occupational tax on anyone engaged in a "marijuana enterprise," which is broadly defined to include anyone involved in the production, importation, manufacturing, distribution, retail, transportation, storage, display, or any other business activity handling marijuana or marijuana products. To operate as a marijuana enterprise, individuals or entities must obtain a permit from the Secretary of the Treasury, and the bill outlines criteria for permit denial, suspension, or revocation, including past felony convictions related to marijuana or failure to comply with regulations. The bill also establishes civil and criminal penalties for non-compliance, such as failing to pay taxes, evading taxes, operating without a permit, or falsifying records, with penalties ranging from monetary fines to imprisonment. Importantly, the bill exempts marijuana sold for medical use in accordance with state law and allows for exemptions for marijuana intended for further production or export, provided proper documentation is submitted. The effective date of these provisions is tied to the removal of marijuana from all schedules under the Controlled Substances Act, with special rules for existing state-licensed businesses.