What is Massachusetts planning to do with all that marijuana tax revenue? December 6, 2018 AggregatedNews Massachusetts 0 Comments In a recent interview, Boston Mayor Marty Walsh said he hoped the the tax revenue from marijuana in Massachusetts would be worth the “human toll.” Walsh, who opposed the 2016 state ballot measure to legalize the drug for recreational use, later explained that… Read More→
Colorado cracks a billion in annual marijuana sales in record time, generating $200M in tax revenue October 19, 2018 AggregatedNews Colorado 0 Comments Marijuana sales in Colorado exceeded $1 billion as of August of this year, with tax revenue from those sales coming in at $200 million, according to a report from the Colorado Department of Revenue and its Marijuana Enforcement Division. It’s the… Read More→
State estimates legalized marijuana could bring in $287.9M in new tax revenue October 16, 2018 AggregatedNews Michigan 0 Comments Legalizing recreational marijuana in Michigan could draw in far more tax revenue than what proponents have been advertising, according to a new analysis from the nonpartisan Senate Fiscal Agency. Should Michigan voters agree to legalize recreational marijuana -- on the Nov. 6… Read More→
Estimated tax haul from marijuana sales would grow to $134 million per year in Michigan October 2, 2018 AggregatedNews Michigan 0 Comments By the time Michigan’s recreational marijuana market is fully fleshed out, $134.5 million in tax revenues will be flowing into the state’s coffers annually. But there’s a big caveat: Michigan voters will first have to pass a ballot proposal on Nov.… Read More→
Slow rollout on retail marijuana is shrinking Massachusetts’ estimated taxes, advocates say October 2, 2018 AggregatedNews Massachusetts 0 Comments Saying Massachusetts has missed out on $16 million in marijuana taxes, officials behind the 2016 legal marijuana ballot question on Monday pointed to staffing levels and bureaucracy at the Cannabis Control Commission as potential reasons for the slow rollout of… Read More→
Michigan’s Recreational Marijuana Tax Would Be Lowest In The Nation If Legalized June 27, 2018 AggregatedNews Michigan 0 Comments Michigan could have some of the lowest tax rates on recreational marijuana in the nation if Michigan residents choose to legalize it at the polls in November. To date nine states have legalized marijuana use, each with their own approach to taxing… Read More→
Nevada Has Reached Nearly $50 Million In Cannabis Tax Revenue Since Sales Began May 23, 2018 AggregatedNews Nevada 0 Comments Nevada is skating past its first-year goals for recreational marijuana revenue. The state has collected $48.97 million in total marijuana tax revenues since sales began. Adult-use cannabis sales topped $41 million in March, the most successful month since legal sales began in… Read More→
How High Are Recreational Marijuana Taxes in Your State? April 27, 2018 AggregatedNews Banking, Finance & Real Estate 0 Comments As public opinion increasingly favors the legalization of recreational marijuana, a growing number of states must determine how to tax legal sales of cannabis. To date, nine states (Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon, Vermont, and Washington) and the District… Read More→
An Increase In Marijuana Taxes Will Go Towards Denver’s Affordable Housing Fund April 17, 2018 AggregatedNews Colorado 0 Comments Denver marijuana buyers would help pay for an expansion of the city’s 10-year, $150 million affordable housing fund under a plan that includes borrowing to amp up apartment production. If approved, the proposal would boost the city’s shorter-term plan —… Read More→
Feds Unlikely To Pursue Michigan Medical Marijuana, But Treasury Will March 27, 2018 AggregatedNews Michigan 0 Comments There is good news and bad news for the fledgling marijuana industry in Michigan. The good news first: The federal budget passed by Congress and signed by President Donald Trump on Friday includes language that continues the policy that the federal… Read More→
California Considers Cutting Marijuana Taxes To Draw Legal Customers March 16, 2018 AggregatedNews California 0 Comments SACRAMENTO, Calif. — Less than three months after California launched legal marijuana sales for adults, the state could consider temporarily slashing hefty tax rates that some say are driving buyers into the black market. Growers and sellers in the nation’s largest legal… Read More→
This Rural County In California Legalized Marijuana Farms Then Banned Them After Taking Their Tax Money March 1, 2018 AggregatedNews California 0 Comments Dennis Mills peered over his shoulder at the green hills below, where marijuana farms dotted the Calaveras County landscape. “There’s another one!” he told the pilot with a laugh. The Cessna doubled back so Mills, a county supervisor, could steal… Read More→
Nevada Does $30 million In Taxes After First Six Months Of Marijuana Sales February 27, 2018 AggregatedNews Nevada 0 Comments The Silver State’s marijuana industry is still in its infancy, but the cannabis market has raked in more than $30 million in tax revenue for the state so far. Retailers in Nevada have sold more than $195 million in cannabis during the… Read More→
GOP Senator Pushes For Tax Cuts For Marijuana Businesses November 30, 2017 AggregatedNews Policy & Legal 0 Comments A Republican senator from a state where marijuana is legal is pushing this week to give cannabis businesses a measure of tax fairness. Sen. Cory Gardner of Colorado wants to attach an amendment to a wide-ranging Republican-led tax reform bill that would allow… Read More→
Montana Gets Ready to Take in First Medical Marijuana Taxes June 5, 2017 AggregatedNews Montana 0 Comments BILLINGS, Mont. (AP) — State revenue officials are working on the roll-out of the latest medical marijuana program with a tax on the drug — the first of its kind in the state — which could increase the agency’s capacity… Read More→