Remove 2025 Remove Collective Remove Law Remove State Laws
article thumbnail

Chicago to Garner $3.5 Million in Taxes Next Year From Legal Marijuana

The Joint Blog

According to the Associated Press, the figure represents four months of expected tax collections because the state law that legalized pot sales prevents cities and towns from collecting taxes on those sales until next September. Recreational marijuana tax revenue will result in $3.5

article thumbnail

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

Cannabis Law Report

In a joint op-ed in Fox Business today, American Bankers Association President and CEO Rob Nichols and Credit Union National Association President and CEO Jim Nussle called on lawmakers to resolve the existing conflict between federal and state law with respect to proceeds from cannabis-related businesses.

Banking 40
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

Village Farms International Acquires 70% of Québec-Based ROSE LifeScience, a Leading Vertically Integrated Branded and Third-Party Supplier to the Québec Cannabis Market

Cannabis Law Report

The Village Farms Shares issued under the Share Purchase Agreement are subject to lock-up agreements, and subject to compliance with applicable securities laws, 33% of these shares will be released in four months, another 33% of these shares to be released after eight months and the remaining shares to be released after one year. and ROSE’s?

article thumbnail

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

Cannabis Law Report

billion by 2025[3]. StateHouse will have a unique ability to navigate the operating challenges in the state and capitalize on the combined potential of the businesses we are acquiring. “The combination of high-quality assets, increased scale and experienced leadership will drive tremendous value for shareholders.

article thumbnail

International and Cross-Border Tax Issues in the Cannabis Industry

Greenspoon Marder Cannabis Law Group Blog

The courts have consistently held that marijuana dispensaries operating in compliance with state law are trafficking in controlled substances and are subject to Section 280E.[11] The Tax Court in Patients Mutual [15] Assistance Collective Coop. For years that begin after 2025, the deduction will be reduced to 37.5%