July 1 marks the first day several new laws go into effect. That includes raising the tax on retail marijuana sales. Tax on recreational marijuana products is now 15 percent plus sales tax, jumping from 10 percent prior.

That makes it one of the highest cannabis taxes in the country, according to data compiled by the Tax Foundation.

This increase is coming as the state is starting to hand out its first licenses to business owners.

Jen Randolph Reise is the founder of North Star Cannabis Consulting. Erin Walloch is the CEO of CannaJoyMN, a south Minneapolis store that sells marijuana seeds and hemp-derived products and is in the process of obtaining a micro-business dispensary license.

Both Reise and Walloch joined Minnesota Now to talk about their perspectives on the tax increase.