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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.

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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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Leading Cannabis Gift Card Program Provider, Birchmount Network, Closes $2.5M in Seed Round of Funding

Cannabis Law Report

Birchmount is backed by a management team with a collective 20+ years of experience in the gift card industry managing programs for some of the world’s top brands, including Starbucks, Sephora, Lululemon, Shoppers Drug Mart, Kroger and more. “We gift card market is expected to be worth $239 billion by 2025. At a CAGR of 8.8%, the U.S.

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UK: New trade association launching today to lead CBD industry regulation

Cannabis Law Report

Signatories will commit to a framework of legal compliance and quality controls, primarily based on a recent decision by the European Commission to classify all extracts of hemp and derived products containing cannabinoids (including CBD) as Novel Foods. The ACI is an initiative led by the Centre for Medicinal Cannabis.

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ABA (American Bankers Assoc) & CUNA (Credit Union National Association) Team Up On Cannabis

Cannabis Law Report

While the CEOs did not take a stance on the legalization of marijuana, they noted that the conflict between state and federal law has left most cannabis businesses to operate only in cash, creating public safety and tax issues and putting businesses providing ancillary services to cannabis shops at risk of losing their access to financial services.

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Harborside Announces Business Combination with Urbn Leaf and Loudpack Creating StateHouse Holdings, a Leading California Cannabis Company

Cannabis Law Report

billion by 2025[3]. This strong retail platform will feature a unified retail banner, leading in-store customer service, ease of accessibility and delivery, and a diversified product offering. “The combination of high-quality assets, increased scale and experienced leadership will drive tremendous value for shareholders.