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Gov. Newsom’s Budget Trailer Bill Makes Significant Reforms to California Cannabis Laws, Including Elimination of the Cannabis Cultivation Tax

Cannabis Law Report

California Cannabis Cultivation Tax Eliminated. The budget trailer bill eliminated the cannabis cultivation tax beginning July 1, 2022. The harvested cannabis was first sold or transferred by a cultivator to a distributor on or after July 1, 2022. Delivery Data Required to be Reported in Metrc.

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Ohio’s Recreational Cannabis Market Landscape and Projections

Veriheal

Ohio’s Cannabis Landscape: Current Status and Future Outlook Ohio’s medical marijuana program, first launched in 2016 , brought legal access to patients managing certain debilitating conditions, but it took three years for dispensaries to open up due to regulatory challenges. The pressure is on to capture this budding market.

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Agrify Enters Into a 10-Year Agreement with Gold Leaf For Its Total Turn-Key Solution 

Cannabis Law Report

Over $140 Million in Revenue Expected Over the First Three Years of Cultivation and Over $400 Million in Total Revenue Projected for the 10-Year Term of the Agreement. Gold Leaf is one of only 22 licensed centers and one of only 16 active operators in Florida, and the organization is planning to open 20 dispensaries in the state by 2024.

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Tilray Hosts 2021 Annual Meeting of Shareholders November 22 2021

Cannabis Law Report

Tilray” or the “Company”) (NASDAQ | TSX: TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, today held its first Annual Meeting of Shareholders as the ‘new’ Tilray, the leading cannabis-lifestyle and consumer packaged goods company with the largest global geographic footprint in the industry.

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Flora Growth Closes Investment in Hoshi, Provides Clear Expected Pathway To European Distribution

Cannabis Law Report

NASDAQ: FLGC) (“Flora” or the “Company”), an all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced it has closed the previously announced € 2M (two-million Euros) investment in Hoshi International Inc. MIAMI & TORONTO–(BUSINESS WIRE)–Flora Growth Corp. of the market. billion by 2028.

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The Outlook for Commercial Cannabis Sales in Virginia

Veriheal

Under this legislation, adults over the age of 21 are able to possess and cultivate cannabis for their own personal use. However, the legislation did not put forth the requirements to provide commercial access to products until 2024. Virginia is making slow and steady progress in the area of drug policy reform.

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California County Supervisors (Santa Barbara) hit pause on Cannabis Tax Reform

Cannabis Law Report

The tax structure approved by county voters in 2018 sets a four percent tax on gross sales revenues from cannabis cultivation, as reported every quarter to the county Treasurer-Tax Collector by the growers themselves. That “self-reporting” has led to some loss of tax revenues, county officials say, though they don’t know how much.