California Lawmakers Kill Cannabis Bills as Session Winds Down; 7 Remain
Wed / May 30th
Editor’s update: A previous version of this article indicated incorrectly that the delivery-focused bill outlined below had already been rejected… Read More
Taxes
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.
New York City Comptroller: N.Y. Legal Cannabis $3.6B Market
Thu / May 17th
In an interview with CNBC, New York City Comptroller Scott Stringer estimated that New York state would see $435.7 million… Read More
California Raises $60.9M from Cannabis Taxes; Lower than Projected
Tue / May 15th
California has raised $60.9 million in cannabis sales through the first quarter of 2018, after recreational cannabis sales began on… Read More
Colorado Cannabis Sales in March Highest Yet in 2018
Thu / May 10th
According to Colorado state Department of Revenue data, cannabis sales in March reached $105,945,278 — up from $85,869,215 in February and… Read More
Berkeley, California Lowers Tax Rate on Cannabis Sales
Fri / Mar 30th
The city of Berkeley, California has dropped its sales tax on cannabis products from 10 percent to 5 percent in… Read More
Denver, Colorado Using Some Cannabis Revenues to Expand Road Paving
Thu / Mar 22nd
Denver, Colorado is using $1.2 million derived from cannabis tax revenues to pave city roads, according to a Denver7 report. The… Read More
Nevada’s January Tax Revenues Reach $5.54M; Represent Stable Market
Wed / Mar 21st
Nevada’s legal cannabis sales continue to outpace projections as January tax revenues reached $5.54 million, according to Department of Taxation… Read More
Bi-partisan Bill to Temporarily Reduce Cannabis Taxes Introduced in California
Fri / Mar 16th
Lawmakers in California have introduced legislation to temporarily reduce taxes on the state’s recreational cannabis industry in order to help… Read More
Report: Federally Legal U.S. Cannabis Industry Could Create 1.1M Jobs by 2025
Mon / Mar 12th
According to a New Frontier Data report, if the U.S. government were to legalize recreational cannabis, the industry could infuse… Read More
Nevada Cannabis Sales on $1M-per-day Pace
Tue / Feb 27th
Adult-use cannabis sales in Nevada since the market launched last July have reached $195,467,170, with tax revenues of $30,376,795, according… Read More
Michigan Treasury: Patients Must Pay 6% Tax on Products Bought from Caregivers
Wed / Jan 24th
Last week Michigan’s Department of Treasury quietly released an administrative bulletin imposing a 6 percent tax on medical cannabis transfers… Read More
Drug Policy Alliance Report Espouses Social Benefits of Legalization
Wed / Jan 24th
According to a Drug Policy Alliance report, “From Prohibition to Progress: A Status Report on Marijuana Legalization,” arrests have plummeted… Read More
Nevada Cannabis Taxes in November are Second Highest Since Program’s Launch
Tue / Jan 23rd
Tax revenues from Nevada’s cannabis industry are continuing to exceed expectations as the state raised more than $5.5 million in… Read More
New York GOP Gubernatorial Candidate Supports Adult-Use Cannabis Program
Tue / Jan 16th
During a press conference in Buffalo, New York, Republican gubernatorial hopeful Joel Giambra pitched cannabis legalization tax revenues as a… Read More
Alaska Cannabis Sales Decline in November; Still Mark Second Highest Totals
Thu / Jan 4th
Alaska’s cannabis sales posted their first decline in November 2017 after setting sales records in October, the Juneau Empire reports.… Read More
Nevada Cannabis Sales Set New State Record in October
Wed / Dec 27th
Nevada’s combined cannabis sales reached a new high in October, totaling $37.9 million, the Las Vegas Review-Journal reports. The state… Read More
Colorado Revenue Department Releases ‘Highly Desired’ Data Trove
Thu / Dec 14th
The Colorado Department of Revenue is now releasing the state’s cannabis sales data from Jan. 2014 to the present and… Read More
Canadian Provinces to Receive 75% of Cannabis Tax Revenues
Wed / Dec 13th
Under a new deal with the federal government, Canadian provinces will receive 75 percent of taxes derived from the legalized… Read More
Alaska’s Cannabis-Derived Tax Revenues Set Single-Month Record at One-Year Mark
Wed / Dec 6th
At the one-year mark, recreational cannabis sales taxes in Alaska reached $953,591 in the month of October, setting a new… Read More
Colorado Budget Committee Anticipating Less Cannabis Tax Money Following Sales Tax Changes
Mon / Nov 27th
According to a report by the Colorado Legislature’s Joint Budget Committee, cannabis tax revenues in Colorado are expected to be about… Read More
Canadian Government Proposes $1 Per Gram Federal Cannabis Tax
Tue / Nov 14th
With Canada’s legalization date looming, North America’s northernmost nation is laying the groundwork for what will soon be the world’s… Read More
Delaware Cannabis Legalization Task Force Estimates $9M-$20M in Revenues
Fri / Nov 3rd
A cannabis legalization task force in Delaware suggests that the state could raise between $9 million and more than $70… Read More
Report: California Cannabis Taxes Could Hit 45%
Wed / Nov 1st
According to a Fitch Ratings report, cannabis taxes in California could reach as high as 45 percent in parts of… Read More
Nevada Adult-Use Cannabis Sales Top $33M in Second Month
Thu / Oct 26th
In an interview with the Cannabist, Nevada Department of Taxation head Deonne Contine disclosed the state had sold more than… Read More