(a) (1) Except as provided in subdivision (a)(2), there is imposed a tax upon the sale of HDCPs at wholesale in the amount of two cents (2¢) per milligram of hemp-derived cannabinoid in each HDCP sold at wholesale in this state based upon the most recent HDCP lab test results provided to the wholesaler by the supplier pursuant to § 57-7-107(a)(2).(2) (A) There is imposed a tax upon the sale of HDCPs at wholesale in the form of hemp plant parts or hemp flower in the amount of fifty dollars ($50.00) per one (1) ounce of weight.(B) There is imposed a tax upon the sale of HDCPs at wholesale in liquid form in the amount of four dollars and forty cents ($4.40) per gallon of liquid HDCP, or at a proportional rate if the liquid HDCP is sold or distributed in a container in which the volume is not measured by gallonage; provided, that if the product is inhalable in cartridge form there is imposed an additional tax of ten percent (10%) on the product's wholesale cost.
(1) Except as provided in subdivision (a)(2), there is imposed a tax upon the sale of HDCPs at wholesale in the amount of two cents (2¢) per milligram of hemp-derived cannabinoid in each HDCP sold at wholesale in this state based upon the most recent HDCP lab test results provided to the wholesaler by the supplier pursuant to § 57-7-107(a)(2).
(2) (A) There is imposed a tax upon the sale of HDCPs at wholesale in the form of hemp plant parts or hemp flower in the amount of fifty dollars ($50.00) per one (1) ounce of weight.(B) There is imposed a tax upon the sale of HDCPs at wholesale in liquid form in the amount of four dollars and forty cents ($4.40) per gallon of liquid HDCP, or at a proportional rate if the liquid HDCP is sold or distributed in a container in which the volume is not measured by gallonage; provided, that if the product is inhalable in cartridge form there is imposed an additional tax of ten percent (10%) on the product's wholesale cost.
(A) There is imposed a tax upon the sale of HDCPs at wholesale in the form of hemp plant parts or hemp flower in the amount of fifty dollars ($50.00) per one (1) ounce of weight.
(B) There is imposed a tax upon the sale of HDCPs at wholesale in liquid form in the amount of four dollars and forty cents ($4.40) per gallon of liquid HDCP, or at a proportional rate if the liquid HDCP is sold or distributed in a container in which the volume is not measured by gallonage; provided, that if the product is inhalable in cartridge form there is imposed an additional tax of ten percent (10%) on the product's wholesale cost.
(b) The tax imposed under subdivisions (a)(1) and (2) must be paid monthly by the wholesaler upon the amount of milligrams of hemp-derived cannabinoid or weight of hemp plant parts or hemp flower, as applicable, sold by the wholesaler during the preceding month to the department of revenue.
(c) For the purpose of enforcing this chapter and ascertaining the amount of tax due under this section, each wholesaler shall, on or before the twentieth day of each month, file a report with the commissioner upon forms prescribed, prepared, and furnished by the commissioner showing information relative to sales and disposition of all HDCPs for the preceding calendar month and such other related information as the commissioner may require.
(d) All moneys collected under this section must be turned over to the state treasurer for deposit. Eighty percent (80%) must be deposited into the state general fund. Ten percent (10%) must be deposited into a special account in the state general fund to be appropriated for use by the commission. Of such amount allocated to the commission, at least fifty percent (50%) must be used for the administration and enforcement of this chapter, and not more than fifty percent (50%) may be used for the administration and enforcement of this title. Ten percent (10%) must be deposited into a special account in the state general fund to be appropriated for use by the department of revenue in the administration and enforcement of this chapter. Unused funds remaining in the special accounts for use by the commission and department at the end of the fiscal year must revert to the state general fund.