California Lawmakers Kill Cannabis Bills as Session Winds Down; 7 Remain

Editor’s update: A previous version of this article indicated incorrectly that the delivery-focused bill outlined below had already been rejected by lawmakers. At the time of this update (12:05 pm PST), the bill is currently on the California Senate floor. Several cannabis-related bills have failed in California just days before the deadline for them to pass […]

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New York City Comptroller: N.Y. Legal Cannabis $3.6B Market

In an interview with CNBC, New York City Comptroller Scott Stringer estimated that New York state would see $435.7 million per year from adult-use cannabis tax revenues; while New York City would net about $336 million. “This is a new revenue stream. This is going to impact the kinds of resources we’ll have to invest […]

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California Raises $60.9M from Cannabis Taxes; Lower than Projected

California has raised $60.9 million in cannabis sales through the first quarter of 2018, after recreational cannabis sales began on Jan 1. The state levies a 15 percent excise tax on recreational purchases along with state and local sales taxes. Medical cannabis sales are exempt from the taxes. “California’s excise tax on cannabis generated $32 […]

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Colorado Cannabis Sales in March Highest Yet in 2018

According to Colorado state Department of Revenue data, cannabis sales in March reached $105,945,278 — up from $85,869,215 in February and $88,729,914 in January. In the first three months of 2018, cannabis sales in the state have totaled $365,686,695. Denver County led the state in sales: the county totaled $34,757,371 in March. Arapahoe County, whose largest […]

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Berkeley, California Lowers Tax Rate on Cannabis Sales

The city of Berkeley, California has dropped its sales tax on cannabis products from 10 percent to 5 percent in an effort to better compete with the illicit market, CBS SF reports. Despite the local tax drop, consumers are still paying 30 percent in taxes at the counter; sales taxes in the state can reach […]

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Denver, Colorado Using Some Cannabis Revenues to Expand Road Paving

Denver, Colorado is using $1.2 million derived from cannabis tax revenues to pave city roads, according to a Denver7 report. The funds will enable the Public Works Department to pave “at least 50” additional blocks, spokeswomen Nancy Kuhn said in the report. Denver Mayor Michael Hancock said the city receives about $13 million to $14 million […]

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Nevada’s January Tax Revenues Reach $5.54M; Represent Stable Market

Nevada’s legal cannabis sales continue to outpace projections as January tax revenues reached $5.54 million, according to Department of Taxation figures outlined by Las Vegas Weekly. The revenues represent a stable market that has topped $5 million in tax revenues in four straight months. It’s the fourth-highest total since the state launched its recreational cannabis […]

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Bi-partisan Bill to Temporarily Reduce Cannabis Taxes Introduced in California

Lawmakers in California have introduced legislation to temporarily reduce taxes on the state’s recreational cannabis industry in order to help the sector compete with the illicit market, according to a report from Reuters. The measure was introduced by Republican Tom Lackey and Rob Bonta, a Democrat, who said the bill is directed at “keeping customers […]

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Report: Federally Legal U.S. Cannabis Industry Could Create 1.1M Jobs by 2025

According to a New Frontier Data report, if the U.S. government were to legalize recreational cannabis, the industry could infuse the national economy to a tune of $18.9 billion by 2025, based on a 15 percent tax rate. The report estimates that sales taxes, if implemented federally at 15 percent, could reach $51.7 billion. The […]

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Nevada Cannabis Sales on $1M-per-day Pace

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 to state Department of Taxation figures outlined by Patch. The figures represent sales of $1 million per day.   Wholesale taxes comprise $10.8 million of those revenue totals, while retail taxes make up $19.5 million. […]

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Michigan Treasury: Patients Must Pay 6% Tax on Products Bought from Caregivers

Last week Michigan’s Department of Treasury quietly released an administrative bulletin imposing a 6 percent tax on medical cannabis transfers between a licensed caregiver and their patients. The so-called use tax would not be paid by the supplier, rather it is the responsibility of the patient. The tax “for the use and consumption of this […]

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Drug Policy Alliance Report Espouses Social Benefits of Legalization

According to a Drug Policy Alliance report, “From Prohibition to Progress: A Status Report on Marijuana Legalization,” arrests have plummeted in states that have legalized cannabis for adults, youth use has remained stable, rates of opioid-related harm have been reduced, highway safety has not decreased, the industry is creating jobs, and tax revenues derived from […]

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Nevada Cannabis Taxes in November are Second Highest Since Program’s Launch

Tax revenues from Nevada’s cannabis industry are continuing to exceed expectations as the state raised more than $5.5 million in November from the 15 percent wholesale taxes on medical and recreational products, and the 10 percent excise tax on adult-use sales, the Las Vegas Sun reports. The governor’s office had projected the industry would bring […]

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New York GOP Gubernatorial Candidate Supports Adult-Use Cannabis Program

During a press conference in Buffalo, New York, Republican gubernatorial hopeful Joel Giambra pitched cannabis legalization tax revenues as a way to address the state’s infrastructure problems, WGRZ2 reports. However, the former Erie County Executive stopped short of offering a plan or an exact tax dollar amount a taxed-and-regulated cannabis industry could offer state coffers. […]

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Alaska Cannabis Sales Decline in November; Still Mark Second Highest Totals

Alaska’s cannabis sales posted their first decline in November 2017 after setting sales records in October, the Juneau Empire reports. In November, licensed cultivators in the state sold 857 pounds of flower and 777 pounds of trim to retailers; down from 1,004 pounds of flower and 626 pounds of trim the previous month. Based on […]

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Nevada Cannabis Sales Set New State Record in October

Nevada’s combined cannabis sales reached a new high in October, totaling $37.9 million, the Las Vegas Review-Journal reports. The state received $5.8 million in tax revenues, of which about $3.8 million came from the state’s 10 percent excise tax on recreational sales. Since recreational sales began on July 1, the state has netted more than […]

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Colorado Revenue Department Releases ‘Highly Desired’ Data Trove

The Colorado Department of Revenue is now releasing the state’s cannabis sales data from Jan. 2014 to the present and will release monthly reports going forward on the seventh business day of each month. The Revenue Department’s Office of Research and Analysis will produce the reports which will show gross sales minus wholesale sales for […]

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Canadian Provinces to Receive 75% of Cannabis Tax Revenues

Under a new deal with the federal government, Canadian provinces will receive 75 percent of taxes derived from the legalized cannabis industry after the feds initially proposed a 50/50 profit share, according to a BBC report. In October, Prime Minister Justin Trudeau proposed a 10 percent excise tax on recreational products that should not exceed […]

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Alaska’s Cannabis-Derived Tax Revenues Set Single-Month Record at One-Year Mark

At the one-year mark, recreational cannabis sales taxes in Alaska reached $953,591 in the month of October, setting a new single-month record in the state, according to a Juneau Empire report. The revenues come on 1,004 pounds of flower sold by cultivators to retailers, and another 62 pounds of other plant parts. Regulators also approved […]

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Colorado Budget Committee Anticipating Less Cannabis Tax Money Following Sales Tax Changes

According to a report by the Colorado Legislature’s Joint Budget Committee, cannabis tax revenues in Colorado are expected to be about $9 million less in the coming fiscal year, due partly to lawmakers eliminating the 2.9 percent sales tax on retail sales. In fiscal year 2017-2018, the state had about $124 million in state tax revenues to […]

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Canadian Government Proposes $1 Per Gram Federal Cannabis Tax

With Canada’s legalization date looming, North America’s northernmost nation is laying the groundwork for what will soon be the world’s largest national adult-use cannabis marketplace. Last week, Liberal MP Bill Blair — the former chief of police for Toronto and Prime Minister Justin Trudeau’s point man for the country’s legalization process — announced the federal […]

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Delaware Cannabis Legalization Task Force Estimates $9M-$20M in Revenues

A cannabis legalization task force in Delaware suggests that the state could raise between $9 million and more than $70 million annually by taxing and regulating adult-use cannabis sales, according to a Delaware Public Media report. Advocates at the meeting suggested the state would see even more savings derived from a reduction in law enforcement […]

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Report: California Cannabis Taxes Could Hit 45%

According to a Fitch Ratings report, cannabis taxes in California could reach as high as 45 percent in parts of the state once the adult-use market comes online, CNN Money reports. The analysis found that consumers will pay sales tax ranging from 22.25 percent to 24.25 percent, including the state’s 15 percent excise tax, and […]

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Nevada Adult-Use Cannabis Sales Top $33M in Second Month

In an interview with the Cannabist, Nevada Department of Taxation head Deonne Contine disclosed the state had sold more than $33 million during its second month of adult-use sales – representing a 24 percent spike from the 27.1 million in sales in July. The revenues equate to $3.35 million in tax revenues derived from the […]

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