article thumbnail

New cannabis tax rates to start Jan. 1, 2024

Illinois News Joint

The Illinois Department of Revenue (IDOR) released a bulletin Friday to all dispensaries engaged in the business of selling adult use cannabis at retail in taxing jurisdictions that have enacted Municipal or County Cannabis Retailers’ Occupation Taxes. In a municipality located in the county, the rate may not exceed 3%.

Retail 70
article thumbnail

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. As of January 2024, 24 states have legalized adult-use cannabis; over half the US population lives in a state where it is legal. The DEA is conducting a review of cannabis scheduling. million in taxes and fees.

DEA 52
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

January and February medical cannabis sales hover around $24M

Illinois News Joint

In January, Illinois dispensaries sold $11,505,949.92 Licensed medical cannabis dispensaries served 60,179 unique patients, who purchased 1,251,318 grams of dry cannabis. In February, Illinois dispensaries sold $11,474,605.18 In February, Illinois dispensaries sold $11,474,605.18 in dry flower sales and $12,832,601.38

article thumbnail

Trulieve Deposits Another $5 Million Into Florida 2024 Initiative Says Cannabis Business Times

Cannabis Law Report

Florida-based cannabis giant Trulieve recently doubled its contribution to the Smart & Safe Florida political committee with another $5 million toward a 2024 ballot initiative to legalize adult-use cannabis. 1, 2024, with election officials needing 30 days to check signatures before that deadline. 23 to circulate the petition.

article thumbnail

March medical cannabis sales reach $25.9M

Illinois News Joint

In March, Illinois dispensaries sold $12,245,278.55 Licensed medical cannabis dispensaries served 62,518 unique patients, who purchased 1,343,762 grams of dry cannabis. Total retail sales since November 2015 by licensed medical cannabis dispensaries totaled $2,038,247,899.49. Total retail sales for 2024 reached $74,682,676.11.

article thumbnail

The Week in Weed: March 8, 2024

The Blunt Truth

We re-visit the Eastern Band of Cherokee in North Carolina, who are planning to set up their first dispensary. North Carolina Senators Ted Budd (R) and Thom Tillis (R) have sent a letter to various federal officials asking for a plan to enforce state and federal laws in the wake of this announcement.

Retail 52
article thumbnail

Cannabis occupation tax rate changes July 1

Illinois News Joint

The Illinois Department of Revenue (IDOR) released an informational bulletin for all dispensaries engaged in the business of selling adult use cannabis at retail in taxing jurisdictions that have enacted municipal or county cannabis retailers’ occupation taxes. To verify combined state and local retailers’ occupation tax rates (i.e.,

Retail 72