New Mexico Marijuana Archives - Cannabis Business Executive

Takeaways from NM’s first 4 months of recreational cannabis

New Mexico’s newest industry has many around the state excited for its potential economic impact — from the funding it can provide for things like public education, to the tourism it can drive to the state and even the opportunity…

Some New Mexico cannabis producers may face higher than expected tax bill

New Mexico recreational-use cannabis companies, for the first time, are required to file their gross receipts and cannabis excise taxes in one week. It’s unclear exactly how much the state is set to collect, but cannabis regulators reported more than…

Medical Marijuana Patients In New Mexico Are Struggling To Find Product — Here’s Why

Since New Mexico launched its adult-use marijuana market April 1, dispensaries have made a lot of money, bringing in about $8 million in revenue. And while this is great for the industry and the state, medical marijuana patients have been…

Tribes left behind by America’s marijuana laws

April 6, 2022
AggregatedNews
Native American reservations, Native American Tribal Lands
1 Comment

In a high mountain valley near Taos, N.M., the 300-person Picuris Pueblo tribe can farm whatever they want — except for one lucrative crop that is legal to grow everywhere else in the state: marijuana. The Picuris are a poor…

New Mexico’s marijuana sales eclipse $4 million mark

Cannabis sales in New Mexico have been smoking hot, to say the least. Recreational cannabis sales have topped the $3 million mark, since legal sales began Friday. As of 12 pm Sunday, more than $4.5 million in total sales have…

Tribes Prepare for Cannabis Ventures in New Mexico

Two tribal communities have been reassured they’ll be able to take part in New Mexico’s marijuana market opening in April without the threat of federal law enforcement interference on tribal land, according to agreements with state cannabis regulators signed on…

What’s ahead for recreational pot in New Mexico this week?

Marijuana aficionados and entrepreneurs across New Mexico are bracing for the April 1 start of state-regulated retail marijuana. New Mexico joins 17 other states that have legalized recreational marijuana without significant legal challenges. The start date for sales ushers in…

Supreme Court: Medical marijuana can’t be taxed in New Mexico

February 24, 2022
AggregatedNews
New Mexico
0 Comments

The New Mexico Supreme Court has let stand a lower court ruling that found cannabis purchases by medical marijuana patients should not be subject to gross receipts tax. The Supreme Court issued its order Wednesday, just days before parties in…

Marijuana industry has only a couple banking options in New Mexico

Verdes Foundation, one of New Mexico’s largest medical cannabis companies, is set to open its first Santa Fe shop — a dispensary on downtown Shelby Street — at the end of November. It plans another new store in the city…

New Mexico state regulators hear from public on proposed cannabis courier, manufacturing, retail rules

The New Mexico Regulation and Licensing Department and its Cannabis Control Division heard from the public on Thursday during a public rulemaking hearing regarding cannabis couriers, retail establishments and manufacturing facilities. The comments during the meeting varied from proposed regulations…

New Mexico explores public financing for cannabis businesses

Small-scale marijuana businesses in New Mexico would receive access to publicly financed loans of up to $250,000 in an effort to promote social and economic fairness, under a proposal unveiled Thursday. The New Mexico Finance Authority suggested a $5 million…

More Texans will have access to medical marijuana this week, but the state lags in cannabis reform

September 1, 2021
AggregatedNews
Texas
0 Comments

One of the few things to celebrate coming out of the past session of the Texas Legislature was an expansion of the state's Compassionate Use Program. A new law that goes into effect Wednesday, September 1, will let people with any form…

State of New Mexico turns down request for higher marijuana plant counts

The state of New Mexico on Wednesday turned down a request from multiple medical cannabis producers for an immediate increase in plant counts to avert what they predicted would be a shortage in supply after a new law legalizing use…

Legal weed in NM may be a buzzkill for Colorado dispensaries

Legal recreational cannabis has been an economic boon for Trinidad and many other small towns across Colorado’s southern border. But New Mexico’s recent legalization of recreational cannabis could force dispensaries in the region to adapt to shifting demand as operators…

New Mexico marijuana legalization poses a serious threat to Colorado’s lucrative border-town pot shops

When Colorado legalized the retail sale of marijuana in 2012, savvy entrepreneurs saw an opportunity beyond setting up shop in population centers like Denver and Boulder. They realized if they opened cannabis businesses in small towns along the state’s borders,…