Vermont Cannabis Sales Reach $5.7M in January
Thu / Feb 23rd
Vermont cannabis retailers sold about $5.7 million worth of cannabis products in January.
With legalization, federal, state and local governments have seen how much revenue marijuana taxes can bring in. Taxation of cannabis businesses is highly lucrative and as the market continues to grow many tax laws are changing to adapt to this increase. Below are articles and insights regarding marijuana taxes.
Thu / Feb 23rd
Vermont cannabis retailers sold about $5.7 million worth of cannabis products in January.
Mon / Feb 13th
A recent poll found a majority of New Jersey residents want to see the state’s cannabis tax revenues go toward funding education in the state.
Mon / Feb 6th
Cannabis tax revenue in Colorado fell from $423 million in 2021 — during the peak of the coronavirus pandemic — to $325 million in 2022
Fri / Feb 3rd
Washington lawmakers are considering raising taxes on highly potent cannabis products, proposing a 50% tax rate for products containing between 35% and 60% THC and a 65% tax rate for products exceeding 60% THC.
Wed / Jan 25th OPINION
Cannabis operators from every corner of the market have to deal with restrictions from IRS Revenue Code 280E but, with careful planning and tax strategies, cannabis entrepreneurs can work to reduce its impact on their business.
Mon / Jan 23rd
This week in Aurora, Colorado, officials are opening the city’s second community recreation center funded by cannabis taxes.
Fri / Jan 13th
If Hawaii were to legalize adult-use cannabis, the state’s annual cannabis tax revenue could reach between $34 million and $53 million. Lawmakers are likely to consider a legalization proposal later this year.
Thu / Jan 12th
Minnesota lawmakers’ proposal to legalize adult-use cannabis includes social equity considerations, home grow provisions, and an additional 8% tax on cannabis products.
Wed / Jan 11th
Connecticut has launched its regulated adult-use cannabis market with nine retail dispensaries opening across the state on Tuesday.
Mon / Dec 12th
Arizona sold $1.6 billion worth of cannabis in 2021 to become the second-largest cannabis market in the U.S. behind California.
Wed / Nov 9th
Missouri became the first mid-western state and the 21st state overall to approve adult-use cannabis reforms in Tuesday’s elections.
Mon / Nov 7th
Colorado has sold $13.4 billion worth of adult-use cannabis since its legalization in 2012, generating $2.2 billion in taxes for the state.Â
Wed / Nov 2nd
The Hawaii Tax Department released projections that adult-use cannabis legalization could lead to an estimated $50 million in additional annual state revenue.
Tue / Nov 1st
The New Jersey Assembly passed a proposal to let licensed cannabis businesses deduct certain expenses from their state tax filings; the bill still needs to pass the Senate and be signed by the governor.
Tue / Oct 18th
On Monday, the Czech cabinet was slated to review a draft plan for addressing drug addiction in the country including launching a regulated cannabis market and increasing spending on treatment.
Wed / Oct 5th
Nevada adult-use cannabis sales reached $965 million during the fiscal year 2022.
Thu / Sep 8th
Illinois has topped more than $1 billion in 2022 cannabis sales by the end of August which represents a 16% year-over-year increase from the previous year.
Wed / Aug 17th
Arizona’s adult-use cannabis sales reached $76.5 million in May while medical cannabis sales fell to their lowest total since January 2021 at less than $45 million.
Tue / Aug 16th
According to the New Jersey Cannabis Regulatory Commission, total adult-use cannabis sales reached $80 million during the program’s first 10 weeks.
Tue / Aug 16th PARTNER CONTENT
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Mon / Aug 15th
Rhode Island’s November elections will see 31 municipalities voting on whether they will opt into allowing adult-use cannabis retail sales and the resulting cannabis industry tax revenues.
Fri / Aug 12th
Massachusetts Gov. Charlie Baker (R) signed a package of cannabis industry reform bills which includes provisions for tax reforms, expungement, social equity, and changes to industry fees.
Wed / Jul 27th
Adult-use cannabis tax revenues grew by 50% year over year in Illinois, reaching $445.3 million in 2021.
Mon / Jul 25th
Cannabis sales in Colorado hit $153.68 million for the month of May, a 32% decline from the state’s all-time high in July 2020.
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