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Illinois State Treasurer issues RFP for cannabis tax banking services

Illinois News Joint

According to the RFP, the Treasurer seeks a successful Respondent (Contractor) to provide efficient and cost-effective banking services for the cash payments of taxes collected by the State of Illinois Department of Revenue (IDOR) for recreational adult use cannabis and medical cannabis permitted under Illinois law. June 4, 2025.

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Alert: Governor Gavin Newsom signs legislation implementing the 2022-23 state budget, including trailer bill focusing on measures to bring tax relief to the cannabis industry

Cannabis Law Report

Move cannabis excise-tax collection and remittance to retail in 2023, establishing one point of collection and remittance and greatly simplifying tax requirements for the entire cannabis supply chain. Allow eligible equity retailers to keep a percentage of the excise tax they collect. You can access the bill language here.

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RYAH Group Ships Devices for Use in Pilot Program with Medicann in Jersey, Channel Islands

Cannabis Law Report

Medicann is a premier cannabis-specialized clinic, providing patients with access to local specialist doctors and pharmacists that have experience prescribing cannabis-based medication. billion) by 2025. has emerged as the largest supplier of medicinal cannabis in the world. to reach 3.2 billion euros ($3.75

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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 From February 2017 through August 2021, the local taxes collected totaled $86.1 The city of Denver, for example, applies an additional 5.5%

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Alert: Newsom To Present Cannabis Tax Simplification Solutions To Legislature

Cannabis Law Report

Shifting the point of collection and remittance for excise tax from distribution to retail on January 1, 2023, maintaining a 15 percent excise tax rate. Strengthening tax enforcement policies to increase tax compliance and collection and reduce unfair competition. million to help expand access to legal retail throughout California.

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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

Any cultivation tax collected on cannabis that enters the commercial market on or after July 1, 2022, must be returned to the cultivator that initially paid the cultivation tax or, if unable to be returned to the cultivator, must be paid to CDTFA as excess tax. Cannabis Retail Access Grant Program. Economic Impact Study.

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California Governor Signs Contentious Cannabis Overhaul Bill1

SpeedWeed

This was done to help simplify regulatory oversight and make access to licenses more clear and straightforward for those seeking to find them. . These will be able to be renewed until January 1, 2025. California just signed a new law into effect that will consolidate the state’s cannabis programs into one department. .