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The Week in Weed: January 5, 2024

The Blunt Truth

Happy 2024 – let’s start the year off with a shout-out to Colorado, where the retail market is celebrating an anniversary. There’s an update on Alabama’s medical cannabis licensing program (meet the new year; same as the old year). Since that time, the industry has taken in $15 billion in revenue, with the state collecting $2.6

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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. California Cannabis Excise Tax Capped at 15% for Three Years.

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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.

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California Governor Proposes a Cannabis Tax Reduction in an Effort to Shore Up the Legal Market

Cannabis Law Report

Gavin Newsom introduced proposed revisions to his 2022-2023 budget proposal, which would eliminate the cannabis cultivation tax rate beginning July 1, 2022. The 15% excise tax on cannabis sales would remain, and the collection and remittance of that tax would be limited to retail sales beginning January 1, 2023.

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Denver Nuggets Fever Spreads to the Cannabis Industry as Co-founder of Cherry Introduces Exciting New Strains

Veriheal

Jason MacLean isn’t new to cannabis cultivation and genetic breading. He has been immersed within the cannabis community in Denver for over 15 years, working as a horticulturist and cultivator. And he also led the efforts that granted Cherry the Best Wholesale Cultivation award in the 2021 Best of Denver awards.

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

SpeedWeed

million in total program tax revenue, according to the California Department of Tax and Fee Administration (CDTFA). Since the state launched its first adult-use sales in January 2018, the cannabis industry has provided a total program revenue of $2.8 California’s current cultivation tax is based on $9.65 Bringing in $40.4

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California Cannabis: Welcoming a Shift Away from Local Control

Canna Law Blog

10 cultivation (indoor or mixed light only). Cultivation : $7/sf of canopy (indoor artificial light). $4/sf Cultivation : $10/sf of canopy (indoor artificial light). $7/sf The County notes that, regarding the max increases, the tax rates for cultivation will be adjusted annually to reflect inflation in 2027. 25 delivery.

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