The legislation was approved in a 200-163 vote, according to New Hampshire Public radio.
House Bill 481 would tax cannabis cultivators at 5% and retailers at 9%. As originally introduced, the legislation would have imposed a tax of $30 an ounce at the cultivation level, NHPR noted.
The House Ways and Means Committee amended the tax language last month.
Cannabis industry workers and executives can earn more than their mainstream counterparts.