When the 2018 Farm Bill passed, it generated a lot of interest and had the potential to be a lucrative cash crop. Farmers who weren’t comfortable with the excessive regulation and federal status of marijuana turned to hemp when the bill passed. After all, hemp was federally legal, and many saw it as a crop […]
Budget outlines. Drafted tax proposals. It’s almost a sure bet that New York is going to legalize adult-use recreational cannabis. Governor Andrew Cuomo pledged to legalize recreational marijuana in 2020, and it appears he’s going to work to do just that. The only glitch? After royally screwing up the state’s medical marijuana program, medical marijuana […]
California generated $635 million in cannabis tax revenue in 2019, thanks to Proposition 64. Passed in 2016, Prop 64, also known as the Control, Regulate and Tax Adult Use of Marijuana Act, legalized the use of marijuana for those over the age of 21, created laws, and assessed taxes to regulate the cultivation, distribution, sale, […]
BLK MKT, a Canadian adult-use recreational cannabis brand owned by LP GTEC Holdings, got plenty of attention recently. Their booth in the Vancouver Lift & Co. trade show in mid-January displayed the slogan, “Once You Go BLK . . . ” Needless to say, that tagline has generated some serious controversy. While it might be […]
After almost a year of waiting and eager anticipation, it’s happened. Alaska’s Marijuana Control Board regulators approved two retail applications. They issued permits for on-site recreational cannabis consumption with a vote of 3-2. The first approved application and license was awarded to GoodSinse LLC in Fairbanks. The business plans to open in the summer. The […]
Talk about putting your money into something you believe in. Panacea Life Sciences founder and CEO Leslie Buttorff donated a whopping $1.5 million to Colorado State University to fund and support cannabinoid research. This isn’t the first time alumni have donated funds for cannabis research, however. Oregon State University graduates Seth and Eric Crawford, founders […]
The cannabis industry in Colorado has been growing at a very steady clip since legalization in 2014. Adult-use cannabis in the state increased by 16% in 2019 and topped $1.4 billion by the end of the year. Analysts attribute the continued growth to new customers. Sales year-over-year increased in a market first. After kicking off […]
For both cannabis consumers and companies, chalk it up to a lesson learned. The vaping crisis officially kicked off on August 23, 2019, when Illinois reported the first vape-related death. After a rash of hospitalizations and deaths attributed to vaping, the FDA launched a criminal investigation in September. Now it’s high time for the marijuana […]
One thing you never hear is, “I can’t wait to pay my taxes.” For those in the cannabis industry, it seems like you’re taxed to the hilt. Yet here we are, on the cusp of another tax season. The feds still consider cannabis illicit, but they are happy to take taxes from the industry — […]
Let’s face it – Alaska is a vast state (larger than Texas, California and Montana combined), and despite the relatively sparse, far-flung population, they do things big. The state is home to robust oil, timber, mining and fishing industries, but that isn’t all: they can also claim substantial tax revenues from legal cannabis sales. And […]
