(a) A Cannabis Dispensary shall levy a tax of no less than 18% on all sales of Cannabis, except that Qualified Patients who are residents of the Territory and who validly possess a Medical Cannabis Patient Card issued by the OCR are exempt from this tax.(1) Seventy-five percent of the revenues collected pursuant to this tax must be deposited to the General Fund and distributed as follows:(A) Fifteen percent to be distributed evenly among the Department of Human Services and the Department of Health for behavioral health programs.(B) Five percent to the Department of Human Services for programs addressing homelessness.(C) Five percent to the Department of Sports, Parks, and Recreation for youth-related programs.(D) Fifty percent remains in the General Fund to fund the general operations of the Government of the Virgin Islands.(2) Twenty-five percent of the revenues collected pursuant to this tax must be deposited in the Cannabis Fund and allocated to the OCR to fund the operations required by this chapter and public education and marketing.
(1) Seventy-five percent of the revenues collected pursuant to this tax must be deposited to the General Fund and distributed as follows:(A) Fifteen percent to be distributed evenly among the Department of Human Services and the Department of Health for behavioral health programs.(B) Five percent to the Department of Human Services for programs addressing homelessness.(C) Five percent to the Department of Sports, Parks, and Recreation for youth-related programs.(D) Fifty percent remains in the General Fund to fund the general operations of the Government of the Virgin Islands.
(A) Fifteen percent to be distributed evenly among the Department of Human Services and the Department of Health for behavioral health programs.
(B) Five percent to the Department of Human Services for programs addressing homelessness.
(C) Five percent to the Department of Sports, Parks, and Recreation for youth-related programs.
(D) Fifty percent remains in the General Fund to fund the general operations of the Government of the Virgin Islands.
(2) Twenty-five percent of the revenues collected pursuant to this tax must be deposited in the Cannabis Fund and allocated to the OCR to fund the operations required by this chapter and public education and marketing.
(b) A Cannabis Dispensary must require all customers who are not residents to pay a special non-resident Cannabis Fee of $20, which must be reflected on the receipt at point-of-sale, at the time of purchase at the Cannabis Dispensary. Residency for the purposes of this subsection is defined as individuals who are residents of the Territory for 45 days or more. To establish residency under this section, a Cannabis Dispensary shall accept either a Virgin Islands Government-issued driver’s license, a Virgin Islands Government-issued voter registration card, or a Virgin Islands Government-issued senior citizen identification card.
(c) A Cannabis Cultivation Licensee shall pay a 0.50 tax per gram of Cannabis cultivated on their Licensed Premises that is transferred to another licensee.
(d) Seventy-Five percent of the revenues collected pursuant to this tax must be deposited to the General Fund and distributed as follows:(1) Fifteen percent to be distributed evenly among the Department of Human Services and the Department of Health for behavioral health programs;(2) Five percent to the Department of Human Services for programs addressing homelessness;(3) Five percent to the Department of Sports, Parks, and Recreation for youth-related programs; and(4) Fifty percent remains in the General Fund to fund the general operations of the Government of the Virgin Islands.
(1) Fifteen percent to be distributed evenly among the Department of Human Services and the Department of Health for behavioral health programs;
(2) Five percent to the Department of Human Services for programs addressing homelessness;
(3) Five percent to the Department of Sports, Parks, and Recreation for youth-related programs; and
(4) Fifty percent remains in the General Fund to fund the general operations of the Government of the Virgin Islands.
(e) Twenty-five percent of the revenues collected pursuant to this tax must be deposited in the Cannabis Fund and allocated to the OCR to fund the operations required by this chapter and for public education and marketing.
(f) Unless otherwise prohibited by law, in computing net income for Cannabis Businesses pursuant to Virgin Islands law, there shall be allowed as a deduction from all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on a trade or business as a Cannabis establishment, including reasonable allowance for salaries or other compensation for personal services rendered against the Cannabis Business’ income tax return payable to the government.