Effective July 1, 2021
§ 11. [Effective July 1, 2021] Excise tax--Use of revenue.
An excise tax of fifteen percent is imposed upon the gross receipts of all sales of marijuana sold by a person licensed by the department pursuant to this article to a consumer. The Legislature may adjust this rate after November 3, 2024. The department shall by rule establish a procedure for the collection of this tax and shall collect the tax. The revenue collected under this section shall be appropriated to the department to cover costs incurred by the department in carrying out its duties under this article. Fifty percent of the remaining revenue shall be appropriated by the Legislature for the support of South Dakota public schools and the remainder shall be deposited into the state general fund.
History: Proposed by initiated amendment (Constitutional Amendment A), approved Nov. 3, 2020, eff. Jul. 1, 2021.