Utah Amends Specialized Product Tax Act, Removes Sales Tax Exemptions for Cannabinoid Products

The Utah Governor signed a law amending the Specialized Product Licensing and Tax Act, modifying provisions related to cannabinoid and kratom products. The law eliminates the existing sales and use tax exemption for cannabinoid products and imposes a new, separate tax on specialized products at a rate of 5.3 percent of the retail price. The law takes effect Jan. 1, 2027. [S.B. 101, enacted 03/26/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.