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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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From Farms to Festivals: New York’s Innovative Approach to Cannabis Sales and Showcases

Veriheal

Thanks to the New York Office of Cannabis Management, the idea of a legal cannabis showcase program is now a reality. This decision by the state’s Cannabis Control Board was made to help cannabis cultivators earn a return on their investment. billion by 2025. billion by 2025.

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There Are Now More Than 440,000 Jobs Supported By The American Cannabis Industry

Veriheal

Other states with new programs, such as Missouri, have added thousands of jobs in a relatively short time span. We expect losses in these markets to continue to thin out in 2024 and turn positive once again in 2025,” they stated. Fortunately, the report’s authors are not concerned. “We

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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

The cannabis tax reform trailer bill will: Indefinitely suspend the cannabis cultivation tax effective July 1, 2022. Retain the current 15-percent excise tax rate until at least 2025, and thereafter increase the tax rate (no higher than 19 percent) as necessary to make up for cultivation-tax revenue.

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Illinois Senate creates cannabis omnibus

Illinois News Joint

The first amendment adds that a “craft grower may contain up to 14,000 square feet (instead of 5,000) of canopy space on its premises for plants in the flowering state, which must be cultivated in all stages of growth in an enclosed and secure area.”

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Here Are the Cannabis Wins and Losses From Midterm Elections

Veriheal

This legislation also allows adults to cultivate two cannabis plants for personal use. These new measures will take time, and it is estimated that recreational products will not be sold until 2024 or even 2025. North Dakota passed a medical marijuana program in 2016. North Dakota currently allows for a medical marijuana program.

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9 Key Takeaways From LA’s Newest Ordinance Amendments

Cannabis Law Report

New Cultivation Licenses Limited To SEIAs through January 1, 2025. Namely, this new section of the Ordinance aims to bolster the Social Equity Program by limiting all future cultivation licenses in the City to Social Equity Individual Applicants (“SEIA”). Key Takeaways –.