{"id":9580,"date":"2020-10-23T11:33:23","date_gmt":"2020-10-23T17:33:23","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/businesses\/?p=9580"},"modified":"2025-03-05T12:31:26","modified_gmt":"2025-03-05T19:31:26","slug":"cannabis-excise-tax","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/businesses\/2020\/10\/23\/cannabis-excise-tax\/","title":{"rendered":"Cannabis Excise Tax"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; background_image=&#8221;https:\/\/www.tax.newmexico.gov\/all-nm-taxes\/wp-content\/uploads\/sites\/9\/2020\/10\/pageBG.jpg&#8221; background_enable_image=&#8221;off&#8221; custom_padding=&#8221;0px||||false|false&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p>Businesses subject to the Cannabis Excise Tax are those that have retail sales of adult-use cannabis. Those businesses also must register to pay GRT on their sales. Businesses already registered for GRT may use their existing accounts to pay GRT on adult-use cannabis sales, but they must also have a Cannabis Excise Tax account.<\/p>\n<p>Medical cannabis sales are not subject to the Cannabis Excise Tax. Medical cannabis sales are eligible for the GRT deduction for prescription drugs. Medical cannabis providers still must file GRT returns with the receipts from medical cannabis sales reported in gross receipts, but they can deduct their medical cannabis sales to reduce their GRT liability.<br \/><strong><a href=\"https:\/\/www.tax.newmexico.gov\/businesses\/cannabis-excise-tax\/\" target=\"_blank\" rel=\"noopener\">Read more<\/a><\/strong><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Businesses subject to the Cannabis Excise Tax are those that have retail sales of adult-use cannabis. Those businesses also must register to pay GRT on their sales. Businesses already registered for GRT may use their existing accounts to pay GRT on adult-use cannabis sales, but they must also have a Cannabis Excise Tax account. Medical [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[23],"tags":[],"class_list":["post-9580","post","type-post","status-publish","format-standard","hentry","category-all-nm-taxes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cannabis Excise Tax : Businesses<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tax.newmexico.gov\/businesses\/2020\/10\/23\/cannabis-excise-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cannabis Excise Tax : Businesses\" \/>\n<meta property=\"og:description\" content=\"Businesses subject to the Cannabis Excise Tax are those that have retail sales of adult-use cannabis. Those businesses also must register to pay GRT on their sales. Businesses already registered for GRT may use their existing accounts to pay GRT on adult-use cannabis sales, but they must also have a Cannabis Excise Tax account. 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