Taxes

A recent New Mexico Supreme Court ruling confirmed that medical cannabis purchases in the state cannot be taxed.

Medical cannabis sales in Arkansas surpassed $20 million in January 2022, raising $2.84 million in tax revenue for the state.

Oregon lawmakers are considering a proposal to let certain counties that border states where cannabis remains outlawed increase the local cannabis tax rate from 3% to no more than 10%. Only Malheur County, next to Idaho, would qualify.

In a move that should boost the city’s flailing cannabis industry, San Diego’s City Council voted to reduce the tax rate on cannabis producers from 8% to 2%.

New York Gov. Kathy Hochul’s (D) administration is reportedly expecting $1.25 billion in cannabis tax revenue over the next five years.

Adult-use cannabis excise taxes in Massachusetts surpassed those of alcohol for the first time in December by nearly $23 million.

California Gov. Gavin Newsom (D) said in a recent budget proposal that he would support the restructuring of California’s cannabis tax policy.

Arizona set a new record in November, topping $60 million in monthly adult-use cannabis sales for the first time.

Rochester, New York’s mayor-elect Malik Evans has proposed using cannabis taxes to bolster a universal basic income program for his constituents.

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.

Illinois will attribute another $45 million derived from cannabis taxes toward community grants for communities most impacted by the war on drugs.

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.”

San Francisco, California will again delay implementing a voter-approved cannabis tax with the goal of curbing the illicit market.

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.

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.

Cannabis legalization in Germany could be worth around 3.4 billion euros in tax revenues and about 1.3 billion euros in cost savings.

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.

David Wayne Jenkins, owner of now-defunct Castle Management, is facing 33 counts of grand theft of labor for failing to pay employees.

Colorado voters rejected a proposal to raise cannabis taxes in the state as part of a plan to create an independent education agency.

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.

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.

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.

Half of the total revenue derived from Arkansas’ medical cannabis sales — $25 million — has been collected over the last nine months.