article thumbnail

California Cannabis Industry Has Provided $2.8 Billion in Tax Revenue Since 2018

SpeedWeed

Since the state launched its first adult-use sales in January 2018, the cannabis industry has provided a total program revenue of $2.8 million in cultivation tax and $1 billion in state sales tax during the course of the past 3 1/2 years. California’s current cultivation tax is based on $9.65 billion, which includes $1.4

article thumbnail

CCT CET: Responsible Persons, “Collection & Remittance of Cannabis Excise Tax [“CET”] & Cannabis Cultivation Tax [“CCT”]

Cannabis Law Report

The weakness relates to the collection and remittance of Cannabis Excise Tax [“CET”] and Cannabis Cultivation Tax [“CCT”]. When the Distributor role was created, the California Legislature decided to place the majority of the collection and remittance responsibility on it [1]. “A

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

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

Cannabis Law Report

Eight of the laws were approved in 2020 or 2021, and in seven of those states, sales and tax collections have not yet begun. local sales tax on adult-use cannabis and has collected $237.5 This document reviews each state’s adult-use cannabis tax structure, population, and revenue from legalization. million as of November 2021.

article thumbnail

California: Cannabis Cultivation Tax (“CCT”) and Cannabis Excise Tax (“CET”) Fixing The Shortfall

Cannabis Law Report

This Post suggests some specific changes relating to the reporting and collection of Cannabis Cultivation Tax (“CCT”) and Cannabis Excise Tax (“CET”). Many cultivators have continued struggling to cope with the regulatory labyrinth California created. Some cannabis cultivators believed they had paid CCT.

article thumbnail

Hemp and CBD Businesses Could Be Out in the Cold in Minnesota

Veriheal

The board’s decision—which was made based on gaps in the 2018 Farm Bill that federally legalized hemp—is outlined in the document from its 901st meeting. Thanks to the 2018 Farm Bill, industrial hemp cultivation and processing is federally legal, though a few states have chosen to ban or not regulate the crop and its derivatives.

Hemp 98
article thumbnail

Media Report Reveals German Govt Received Just Over 13 Million Euros Tax Revenue For Medicianl Cannabis In 2018

Cannabis Law Report

million euros in tax revenues with medicinal cannabis in 2018. At the end of 2020, cannabis from German cultivation should be available for patients. ( Leafly.de On the one hand, this calculation is based on real tax receipts that the state can not yet collect. This is what leafly say. reported. ). Economic factor cannabis.

Media 45
article thumbnail

B.C. cannabis co-op hopes to become largest collective producer in the world: organizer

MedicalMarijuana.ca

In rules that changed in late 2018, Health Canada opened up licensing to micro cultivators: a grower who has less than 200 sq. The Vancouver man is on a mission to organize a fraction of those cannabis producers into a co-op to give them not only purchasing power, but marketing strength on the world stage. or 2,152 sq. of canopy space.