Remove 2022 Remove Collective Remove Dispensary Remove Programs
article thumbnail

Tax Practitioners’ Meeting includes Section 280E cannabis deduction

Illinois News Joint

The new law allows for the uncoupling for “state tax deductions” for any cannabis establishment operating in this State and licensed under the Cannabis Regulation and Tax Act or any cannabis cultivation center or medical cannabis dispensing organization operating in this State and licensed under the Compassionate Use of Medical Cannabis Program Act.

article thumbnail

Alabama’s Medical Cannabis Program Could Be Delayed

SpeedWeed

Additionally, the company has launched a series of upcoming brands and products in the State of Ohio, beginning with the debut of its brand, Sèche , the company’s fine flower line, which is currently available for purchase at partner dispensaries across the Buckeye State. ” View original article.

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

Since 2014 when sales began in Colorado and Washington, legalization policies have provided states a new revenue stream to bolster budgets and fund important services and programs. Eight of the laws were approved in 2020 or 2021, and in seven of those states, sales and tax collections have not yet begun. of the population enrolled.

article thumbnail

Press Release: Pritzker Administration Announces All First Round Conditional Adult Use Cannabis Dispensary Licenses Have Been Issued

Cannabis Law Report

Press Release – Friday, August 19, 2022. “I am pleased the Illinois Department of Financial and Professional Regulation fulfilled its statutory requirement and issued these 185 conditional dispensary licenses,” said Mario Treto, Jr., The next phase of the loan program will be launched in the near future.

article thumbnail

The Status of Cannabis Legalization in the South

Cannabis Law Report

Alabama legalized medical a medical cannabis program on May 17, 2021 when Governor Ivey signed SB 46 into law. The law provides for up to 12 cultivator licenses, up to four processor licenses, up to four dispensary licenses, and up to five integrated facility licenses.

article thumbnail

Cannabis and banking vets launch credit card for dispensaries

Cannabis Law Report

That leaves dispensaries managing and protecting massive sums of cash, and the stores cannot offer a modern retail payment system to the consumer. The company will issue and process credit cards that will work in dispensaries. The service is expected to launch in January 2022, and accepted at 100 California retail locations.

Banking 52
article thumbnail

Adult-Use Cannabis Legalization Effort Begins in Ohio

Cannabis Law Report

While regular state and local sales taxes will also apply, included is a 10% cannabis tax rate on adult-use sales that would be allocated as follows: 36% of the tax will support social equity and jobs programs – if passed, it is estimated this could generate $150 million or more annually for social equity and jobs programs in Ohio.