35 Miss. Admin. Code Pt. VIII, Subpt. 4, Ch. 01 — Tax Rate, Fair Market Value, Returns, and Payments

100 A 5% excise tax shall be applied to the sales price of a cultivation facility's first sale or
transfer of cannabis flower or cannabis trim to a medical cannabis establishment.
101 The 5% excise tax shall apply to the fair market value of the cannabis flower or cannabis
trim on the first sale or transfer of cannabis flower or cannabis trim to a medical cannabis
establishment with a common ownership of the cultivator.
102 The fair market value is the value established by the Department of Revenue based on the
price that a medical cannabis establishment would pay to the cultivator in an arm's length
transaction for medical cannabis on the wholesale market. The Department of Revenue
will calculate fair market value using reported sales of each category of medical cannabis
using medical cannabis cultivator transactions recorded in the State's seed-to-sale
tracking system. Fair market value will be set by the Department of Revenue on January
1 and July 1 of each calendar year and posted to the Department of Revenue's website.
103 All cultivators will be required to file medical cannabis excise tax returns electronically
by the twentieth of the month following the reporting period.
104 Electronic payment of excise tax will be required unless the medical cannabis cultivation
facility has written approval from the Department of Revenue to pay using another
method.
105 (Reserved)
35.VIII.4.01 effective June 16, 2022
Subpart 5 Electronic Nicotine Delivery System (ENDS)