German Cannabis Legalization Estimated at €4.7 Billion
Thu / Nov 18th
Cannabis legalization in Germany could be worth around 3.4 billion euros in tax revenues and about 1.3 billion euros in cost savings.
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 / Nov 18th
Cannabis legalization in Germany could be worth around 3.4 billion euros in tax revenues and about 1.3 billion euros in cost savings.
Thu / Nov 18th
Worth $447 million and weighing close to 67,000 pounds, Arkansas’ total medical cannabis sales have generated $45 million in tax revenue since dispensaries opened in 2019.
Wed / Nov 17th
David Wayne Jenkins, owner of now-defunct Castle Management, is facing 33 counts of grand theft of labor for failing to pay employees.
Wed / Nov 3rd
Colorado voters rejected a proposal to raise cannabis taxes in the state as part of a plan to create an independent education agency.
Wed / Oct 27th
The founder of California cannabis dispensary Natural Healing Center is facing a maximum prison sentence of 13 years after pleading guilty to bribery and filing a false tax return.
Fri / Oct 22nd
The executive branch and legislative negotiators in Rhode Island are close to reaching a deal on regulating adult cannabis use, but additional discussions are needed for agreement on issues including taxes.
Thu / Oct 21st
The owner of a Massachusetts cannabis delivery company was sentenced in federal court to four years in prison for tax evasion, money laundering, and cannabis distribution and possession.
Tue / Oct 19th
Half of the total revenue derived from Arkansas’ medical cannabis sales — $25 million — has been collected over the last nine months.
Thu / Oct 14th
An Ohio bill being circulated by Republican Rep. Jamie Callender would allow sales and possession for adults 21-and-older and levy a 10% tax on retail sales.
Tue / Oct 12th PODCAST
Keith Stephenson is the founder and CEO of Purple Heart, the longest-running cannabis dispensary in Oakland, California, and the country’s first Black-owned cannabis business.
Fri / Oct 1st
The House Judiciary Committee on Thursday approved the Marijuana Opportunity, Reinvestment, and Expungement Act which removes cannabis from the federal schedule of controlled substances and expunges federal cannabis convictions.
Thu / Sep 30th
Humboldt County, California has approved a $1 million emergency grant program to help cannabis cultivators after wholesale cannabis prices dropped.
Wed / Sep 22nd
Only 47 of Maine’s 500 towns and cities—comprising about 29% of the state’s population—permit any adult-use cannabis industry operations.
Tue / Sep 21st
California-based Catalyst Cannabis Co. filed a lawsuit last week against the state’s Department of Cannabis Control over product diversion due to high tax rates.
Fri / Sep 17th
Missouri officials transferred more than $6.8 million of the state’s $8.9 million in cannabis tax revenue to the Veterans Commission, as required under the state’s medical cannabis law.
Wed / Sep 15th
Michigan introduced a group of bipartisan bills that would reduce the number of patients allowed per medical cannabis caregiver from five to just one and also limit the amount of plants caregivers could grow from 60 to 12.
Wed / Sep 8th
Cannabis sales in Maine set yet another record in August, topping $10 million in one month for the first time.
Tue / Aug 17th
Humboldt County is set to award more than $2 million in grants through Project Trellis, the county’s micro-grant, marketing, and local equity program.
Mon / Aug 16th
Medical cannabis-derived tax revenues in Oklahoma increased 56% from 2019 to 2020 to more than $66 million.
Wed / Aug 4th
Pueblo County, Colorado is awarding more than $2 million in cannabis excise sales tax scholarships to local institutions, including $1 million to Pueblo Community College.
Thu / Jul 29th
Helios Raphael Dayspring, the former owner of a California cannabis retailer, has been charged in federal court with bribery and failing to report millions of dollars in income to the Internal Revenue Service.
Wed / Jul 14th
Democratic senators unveiled the Cannabis Administration and Opportunity Act today, which seeks to federally legalize cannabis and contains social justice elements aimed at undoing the harms of prohibition.
Mon / Jul 12th
Missouri Gov. Mike Parson vetoed a measure that would have let medical cannabis companies deduct normal business expenses when filing their state taxes.
Wed / Jul 7th PARTNER CONTENT
How social equity applicants can use tax and cash planning to prepare for 280e, improve cash flow, and become more… Read More
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