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You are here: Home / Archives for marijuana taxes

marijuana taxes

Illinois sitting on $62 million in cannabis revenue meant to foster businesses and help neighborhoods hurt by poverty and violence

January 16, 2021 by AggregatedNews Leave a Comment

Despite promises that cannabis legalization in Illinois would fund more minority business participation and neighborhood improvements, the state has yet to spend $62 million collected for those purposes. Part of the delay in awarding the money is due to problems with the state’s system to award new cannabis business licenses. The other reason for the […]

Filed Under: Illinois Tagged With: Illinois Department of Revenue, illinois marijuana, Legal Marijuana, marijuana revenue, marijuana taxes, recreational marijuana

Cuomo vows New York ‘will legalize adult-use recreational cannabis’

January 13, 2021 by AggregatedNews Leave a Comment

New York Gov. Andrew Cuomo (D) vowed on Monday that his state will legalize recreational cannabis as he begins ramping up efforts in the new year to green-light legislation to legalize it. “We will legalize adult-use recreational cannabis, joining 15 states that have already done so,” he tweeted on Monday. The move, Cuomo said, will “raise revenue and end […]

Filed Under: New York Tagged With: Gov. Andrew Cuomo, Legal Marijuana, marijuana legalization, marijuana taxes, new york marijuana, recreational marijuana

November marijuana sales push Colorado’s industry to $2 billion annually for the first time

January 13, 2021 by AggregatedNews Leave a Comment

Colorado marijuana sales in November pushed the industry’s annual revenue to $2 billion for the first time. In November, dispensaries sold $175.1 million worth of products, according to figures released by the Department of Revenue on Tuesday. Recreational sales accounted for about $140.5 million, while medical sales accounted for nearly $34.7 million, the agency reported. While […]

Filed Under: Colorado Tagged With: Colorado Department of Revenue, Colorado marijuana, Legal Marijuana, marijuana revenue, marijuana sales, marijuana taxes, medical marijuana, recreational marijuana

Illinois’ weed windfall from taxes rivals booze haul — and could surpass it next year

December 15, 2020 by AggregatedNews Leave a Comment

Amid skyrocketing demand for legal weed in Illinois, statewide tax receipts from recreational pot sales are now rivaling those from booze. November’s tax revenues from adult-use cannabis, which reflect the record $75.28 million in sales tallied in October, reached nearly $22.88 million, according to figures released by the Illinois Department of Revenue. That’s less than […]

Filed Under: Illinois Tagged With: Illinois Department of Revenue, illinois marijuana, Legal Marijuana, marijuana sales, marijuana taxes, recreational marijuana

Cash-strapped Illinois turning down $100M in pot taxes, industry says

November 17, 2020 by AggregatedNews Leave a Comment

With Illinois facing a nearly $4 billion budget deficit next year, lawmakers and cannabis industry insiders have claimed the state is missing out on more than $100 million in tax revenue by blocking certain pot shops from relocating. While the state’s economy has been upended by the coronavirus pandemic, cannabis sales have remained a bright […]

Filed Under: Illinois Tagged With: Cannabis Business Association of Illinois, Gov. J.B. Pritzker, illinois marijuana, Marijuana Dispensaries, marijuana taxes, medical marijuana, recreational marijuana

What States Will Make From Marijuana Legalization

November 7, 2020 by AggregatedNews Leave a Comment

Tuesday’s election was a landslide win for marijuana. Five states: Arizona, Mississippi, Montana, New Jersey and South Dakota voted in support of legalizing cannabis in some fashion. All the states, with the exception of Mississippi, approved recreational cannabis, while Mississippi has only approved marijuana use in a medical capacity. South Dakota made the most significant […]

Filed Under: Arizona, Mississippi, Montana, New Jersey, South Dakota Tagged With: arizona marijuana, Legal Marijuana, Marijuana Dispensaries, marijuana revenue, marijuana taxes, medical marijuana, mississippi marijuana, montana marijuana, New Jersey Marijuana, recreational marijuana, south dakota marijuana

Gov. Tom Wolf again pushes Pennsylvania marijuana legalization to help fix financial damage from coronavirus

October 14, 2020 by AggregatedNews Leave a Comment

Democratic Gov. Tom Wolf on Tuesday once again prodded the Republican-led Legislature to legalize recreational use of marijuana, in part to generate revenue to repair damage done to the state’s finances by the coronavirus pandemic. Republicans pushed back. A spokeswoman referred to an earlier statement from Senate Majority Leader Jake Corman of Centre County, which […]

Filed Under: Pennsylvania Tagged With: COVID-19, Gov. Tom Wolf, marijuana legalization, marijuana taxes, pandemic, pennsylvania marijuana, recreational marijuana

First day of recreational pot sales in Maine yields $9,464 in sales taxes

October 12, 2020 by AggregatedNews Leave a Comment

The six marijuana shops that opened Friday across the state reported $94,643 in sales, according to the Office of Marijuana Policy. A half-dozen pot shops reported $94,643.38 in first-day sales on Friday under Maine’s new adult-use marijuana program, resulting in $9,464.34 in sales tax for the state. The preliminary data were reported Saturday afternoon by […]

Filed Under: Maine Tagged With: Legal Marijuana, maine marijuana, Maine Office of Marijuana Policy, marijuana legalization, marijuana sales, marijuana taxes

Marijuana sales to become legal in Vermont

October 8, 2020 by AggregatedNews Leave a Comment

Vermont will join the ranks of states allowing the legal sale of marijuana and cannabis products under a bill allowed to pass into law by Gov. Phil Scott without his signature on Wednesday. Scott, in choosing to allow S. 54 to pass into law, asked the Legislature to make additional changes and improvements in January […]

Filed Under: Vermont Tagged With: Gov. Phil Scott, Legal Marijuana, marijuana legalization, marijuana taxes, recreational marijuana, retail marijuana, vermont marijuana

University of Montana releases study showing potential of taxing recreational marijuana

September 30, 2020 by AggregatedNews Leave a Comment

Supreme Court Montana Marijuana Laws Montana Medical Marijuana Montana Marijuana Sales Montana Attorney General Medical Marijuana

University of Montana’s Bureau of Business and Economic Research released a study this month about the possible market value of legalizing and taxing recreational marijuana in Montana. Research in the study estimated that a 20% tax could bring in between $43.4 million and $52 million annually. “You’re not only looking at local monies being spent both legally […]

Filed Under: Montana Tagged With: Legal Marijuana, marijuana legalization, marijuana taxes, montana marijuana, recreational marijuana, University of Montana's Bureau of Business and Economic Research

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