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Attorneys General Push for Marijuana Banking Reform

NORML

Attorneys Generals from 34 states and territories sent a letter today to Congressional leadership urging members to expeditiously pass The Secure and Fair Enforcement (SAFE) Banking Act so that state-licensed cannabis business can explicitly engage in relationships with banks and other financial institutions.

Banking 363
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ABA survey says majority of Americans support SAFE banking for hemp and cannabis businesses

Cannabis Law Report

consumers support all legal cannabis businesses — including hemp and CBD — having access to banking services. 65% support allowing cannabis businesses to access banking services (e.g. checking accounts, business loans) in states where cannabis is legal. Of the 2,210 adults interviewed for the survey — .

Banking 52
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House Members Pass Historic Legislation Legitimizing Retail Cannabis Sales

NORML

Members of the House of Representatives voted 321 to 103 in favor, representing 79% of the vote of HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses.

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Marijuana Policy Project (MPP) Reports Says States Have Collected $US10 Billion In Cannabis Taxes So Far

Cannabis Law Report

Legalizing cannabis for adults has been a wise investment. billion in tax revenue from legal, adult-use cannabis sales. billion in tax revenue from legal, adult-use cannabis sales. Eight of the laws were approved in 2020 or 2021, and in seven of those states, sales and tax collections have not yet begun. Colorado (pop.

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More aggressive tax collections from unlicensed cannabis sellers recommended in Mass.

Cannabis Law Report

The attorney general and cannabis regulators don’t think that Massachusetts needs new criminal penalties for violations of the state’s marijuana laws, but the offices recommended three ways the Legislature could clarify the law and crack down on the illicit market. The Boston Globe reports.

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Legal Cannabis In Arizona Raises $US106Million Tax In Year 1

Cannabis Law Report

The money is earmarked for public safety. Because the City of Tucson is able to collect ordinary sales tax on marijuana sales as well as a share of the special marijuana tax the city is expecting about $9.7 Jeffrey Yates heads Tucson’s Business Services Department. Jeffrey Yates heads Tucson’s Business Services Department.

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In the Weeds: Missouri Settles With Producers, Treasury Seeks Input on Marijuana Businesses

Cannabis Law Report

Medical Cannabis Producers Enter Settlement to Resolve Allegations of Pervasive Irregularities. California Steps Up Tax Collection Efforts. The California Department of Tax and Fee Administration (CDTFA) has stepped up its attempts to collect about $200,000 in unpaid taxes from both illegal and licensed cannabis operations.