SECTION 1. Section 16 of chapter 62C of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by adding the following subsection:-

(m) Every retailer subject to taxation under section 2 of chapter 64N shall, on or before the twentieth day of each calendar month or on or before the twentieth day of the month following each calendar quarter, as the commissioner shall require, file with the commissioner a return for each place of business maintained, stating the quantity of marijuana and marijuana products purchased by such retailer in the commonwealth during the preceding calendar month or quarter, as the case may be, and such return shall contain or be accompanied by such further information as the commissioner shall require. If a retailer ceases to sell marijuana and marijuana products within the commonwealth, the retailer shall immediately file with the commissioner a return for the period ending with such cessation.

SECTION 2. Chapter 64N of the General Laws, as inserted by section 4 of chapter 334 of the acts of 2016, is hereby amended by striking out section 2 and inserting in place thereof the following section:-

Section 2. State excise imposition; rate; payment. An excise tax is hereby imposed on all marijuana and marijuana products held by a marijuana retailer in the commonwealth at a rate of 40 per cent of the wholesale price of such marijuana or marijuana products.  This excise shall be imposed on marijuana retailers at the time marijuana or marijuana products are purchased, received or acquired by the retailer from a marijuana establishment, except for a purchase from another marijuana retailer. For purposes of this section, the wholesale price shall mean the price the marijuana retailer paid for the marijuana or marijuana products, or, if no set price exists, the wholesale value of the marijuana or marijuana products received or otherwise acquired by the retailer. The excise tax shall be levied in addition to state tax imposed upon the sale of property or services as provided in section 2 of chapter 64H and shall be paid by a marijuana retailer to the commissioner at the time provided for filing the return required by section 16 of chapter 62C.