Gavin Newsom gets behind marijuana tax reform, signaling change to cannabis industry January 12, 2022 AggregatedNews California 0 Comments Facing a possible industry revolt over California cannabis tax structure, Gov. Gavin Newsom on Monday signaled that he is open to rethinking the taxes the state levels on marijuana growers and purchases. The governor included in a budget proposal he… Read More→
Colorado Marijuana Tax Revenue Breaks Annual Record December 14, 2021 AggregatedNews Colorado 0 Comments Colorado's annual marijuana tax revenue haul has already reached a new high for the seventh straight year, according to the latest data from the state Department of Revenue. The DOR's latest monthly report on marijuana tax revenue shows that November's $32.5… Read More→
Illinois’ weed tax windfall tops $560 million. Here’s where the money goes. December 8, 2021 AggregatedNews Illinois 0 Comments The state’s collections since early 2020 now outpace that raised from booze sales. The money has been used on everything from buying an opioid reversal drug to funding a Girl Scouts program to fight human trafficking. First-time recreational cannabis buyers… Read More→
Proposition 119: Voters to decide whether to raise marijuana taxes to pay for out-of-school learning October 7, 2021 AggregatedNews Colorado 0 Comments Colorado voters will decide next month whether to raise taxes on recreational marijuana to help fund a new state program aimed at providing Colorado students with out-of-school learning opportunities. The program, called Learning Enrichment and Academic Progress, or LEAP, would… Read More→
Missouri Medical Marijuana Companies Win Tax Relief From State Lawmakers May 24, 2021 AggregatedNews Missouri 0 Comments Missourians voted to legalize medical marijuana in 2018. But under federal law, growing, transporting or selling marijuana remains a crime. Unsurprisingly, that dynamic has created a lot of headaches for the fledgling industry. One notable example: Unlike every other legal… Read More→
Wyoming House committee advances marijuana legalization bill March 14, 2021 AggregatedNews Wyoming 0 Comments Marijuana legalization in Wyoming passed its first hurdle in the Legislature on Friday, after a 6-3 vote in support of a bill in the House Judiciary Committee. House Bill 209, sponsored by committee chairman Rep. Jared Olsen, R-Cheyenne, will now… Read More→
Michigan distributes $10 million in tax revenue to communities with recreational marijuana businesses March 5, 2021 AggregatedNews Michigan 0 Comments The Michigan Department of Treasury is distributing nearly $10 million to more than 100 communities as a part of the Michigan Regulation and Taxation of Marijuana Act. More than $341 million in adult-use marijuana sales were reported for fiscal year… Read More→
U.S. Cannabis Sales Hit Record $17.5 Billion As Americans Consume More Marijuana Than Ever Before March 4, 2021 AggregatedNews News & Insights 0 Comments The coronavirus was good for some industries and ruinous for others. For cannabis, 2020 was a breakout year. Legal sales across the U.S.—15 states allow adult use, 35 allow for medical sales—hit a record of $17.5 billion, a 46% increase from 2019, according to a new… Read More→
North Dakota House passes joint bills to legalize and tax marijuana February 24, 2021 AggregatedNews North Dakota 0 Comments North Dakota's House of Representatives has given the green light to recreational marijuana. The Republican-controlled House on Tuesday passed House Bill 1420 to legalize and restrict recreational marijuana on a 56-38 vote. Representatives also passed House Bill 1501 to implement a related tax policy… Read More→
Florida’s marijuana industry nearly doubled jobs, approached $1.23 billion in sales in 2020 February 22, 2021 AggregatedNews Florida 0 Comments The medical marijuana market in Florida created nearly 15,000 new jobs in 2020 and employs an estimated 31,444 state residents, according to a new analysis. Florida recorded nearly $1.23 billion in marijuana sales in 2020, according to the report posted by… Read More→
Mississippi Senate Revives Medical Marijuana Tax Proposal February 12, 2021 AggregatedNews Mississippi 0 Comments The Mississippi Senate did an about-face on a proposal to set a 7% sales tax on medical marijuana, first killing a bill and then reviving it hours later in an unusual session after midnight. The first vote happened Thursday night,… Read More→
Wisconsin Gov. Tony Evers will propose legalizing recreational and medical marijuana as part of the next state budget February 7, 2021 Press Release Wisconsin 0 Comments Gov. Tony Evers will propose legalizing recreational marijuana as part of the state budget he introduces this month — a plan that could generate $166 million in revenue that would be used to help fund rural schools and programs for marginalized… Read More→
Lawmakers push to legalize marijuana for personal use in Hawaii February 5, 2021 AggregatedNews Hawaii 0 Comments Outside medical cannabis use, more than a half dozen marijuana-related bills, including a measure to legalize its recreational use, have been introduced this legislative session. Not one had secured a hearing before an assigned committee as of press-time Thursday. Feb.… Read More→
Legalize marijuana in Delaware? Doing so could bring plenty of green, state report finds January 26, 2021 AggregatedNews Delaware 0 Comments Delaware could bring in $43 million a year in revenue if it legalizes and taxes marijuana, according to a report Monday from the state auditor. The report estimated 13% of adults in the state would consume marijuana based on data from the Substance Abuse… Read More→
Illinois sitting on $62 million in cannabis revenue meant to foster businesses and help neighborhoods hurt by poverty and violence January 16, 2021 AggregatedNews Illinois 0 Comments 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… Read More→