Authorizes distributors of cannabis products to file annual returns electronically

This bill allows cannabis product distributors to choose between filing their annual tax returns once a year instead of four times a year. Under the proposed changes, companies that make this election would submit a single electronic report by the 20th day of January, rather than submitting quarterly reports by the 20th day of March, June, September, and December. The legislation applies specifically to businesses already subject to the cannabis tax law and would simplify their reporting schedule. Although the bill passed the Senate, it was vetoed by the Governor and ultimately did not become law.