California Gov. Reconsidering State’s Cannabis Tax Structure
Thu / Jan 13th
California Gov. Gavin Newsom (D) said in a recent budget proposal that he would support the restructuring of California’s cannabis tax policy.
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 / Jan 13th
California Gov. Gavin Newsom (D) said in a recent budget proposal that he would support the restructuring of California’s cannabis tax policy.
Wed / Jan 12th
Arizona set a new record in November, topping $60 million in monthly adult-use cannabis sales for the first time.
Tue / Dec 28th
Rochester, New York’s mayor-elect Malik Evans has proposed using cannabis taxes to bolster a universal basic income program for his constituents.
Mon / Dec 20th
Nearly 30 California cannabis companies have raised the alarm to warn Gov. Gavin Newsome and legislative leaders that the state’s legal cannabis industry “is collapsing” due to excessive taxes and regulations.
Fri / Dec 17th
Illinois will attribute another $45 million derived from cannabis taxes toward community grants for communities most impacted by the war on drugs.
Mon / Dec 6th
Some California cannabis operators are considering withholding their tax payments in protest of the state’s increasing cannabis tax rate. The proposed action was described as a “California Weed Party.”
Fri / Dec 3rd
San Francisco, California will again delay implementing a voter-approved cannabis tax with the goal of curbing the illicit market.
Thu / Dec 2nd
In its first year of adult-use cannabis sales, Arizona has raised $106 million dollars in tax revenue. The money is earmarked for public safety initiatives.
Wed / Dec 1st
Alaska cannabis businesses owe nearly $1.8 million in back taxes due to a flat-tax structure paid by growers instead of at the point-of-sale.
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.
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