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New Michigan marijuana taxes, stock market proposed to boost minority business investment Updated Jan 19, 2021; Posted Jan 19, 2021 Employee at High Profile, Kelsey Palmer, shows off the marijuana flowers sold inside C3 Industries new marijuana dispensary on Packard St. in Ann Arbor, Thursday March, 12, 2020. Nicole Hester/Mlive.com Facebook Share Michigan regulators are proposing new taxes on marijuana, including a 3% excise tax on medical marijuana sales and a 1.5% tax on all business-to-business transactions. Proceeds from the medical sales tax could generate nearly $12 million per year, based on the pace of medical sales in December alone, with a primary goal of promoting and funding new minority-run marijuana businesses.

United statesMartin luther king jrDan gilbertAndrew brisboMichigan minority supplier development councilMichigan marijuana research fundHuman servicesGoldman sachsVenture pathways programMarijuana regulatory agencyDepartment of laborMichigan social equity capital investment programDepartment of healthRegulatory agency director andrew brisboRacial equity advisory workgroupMartin luther king