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Washington State Eliminates Medical Cannabis Taxation

Canna Law Blog

In November 2012, Washington voters approved the production, processing, and retail sales of recreational cannabis within Washington state under what is known as Initiative 502 (“I-502”). Cannabis sales in Washington state are currently taxed at a rate of 37%, in addition to the general state and local sales and use taxes.

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Marijuana Policy Project (MPP) Reports Says States Have Collected $US10 Billion In Cannabis Taxes So Far

Cannabis Law Report

Legalizing cannabis for adults has been a wise investment. billion in tax revenue from legal, adult-use cannabis sales. billion in tax revenue from legal, adult-use cannabis sales. Eight of the laws were approved in 2020 or 2021, and in seven of those states, sales and tax collections have not yet begun. Colorado (pop.

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California Governor Proposes a Cannabis Tax Reduction in an Effort to Shore Up the Legal Market

Cannabis Law Report

Gavin Newsom introduced proposed revisions to his 2022-2023 budget proposal, which would eliminate the cannabis cultivation tax rate beginning July 1, 2022. The 15% excise tax on cannabis sales would remain, and the collection and remittance of that tax would be limited to retail sales beginning January 1, 2023.

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Alert: Newsom To Present Cannabis Tax Simplification Solutions To Legislature

Cannabis Law Report

Good afternoon, The Governor’s Office today released a revised 2022-23 state budget proposal, building on the state’s ongoing work to make historic investments in California’s future, including efforts to create a safe, sustainable, and equitable legal cannabis market. million to help expand access to legal retail throughout California.

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Tax Foundation: Coloradans to Vote on Structurally Unsound Property and Cannabis Tax Changes

Cannabis Law Report

Colorado Proposition 119: Increasing Cannabis Taxes. To partially fund the program, the state’s tax on retail sales of cannabis would increase from 15 percent to 20 percent over three years. Colorado collected $410 million in cannabis excise tax es in FY 2021 from a 15 percent wholesale tax and 15 percent retail tax.

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NJ.Com Report: More N.J. cannabis workers unionizing as 4 companies negotiate contracts

Cannabis Law Report

Four major cannabis companies are negotiating contracts to unionize their workforce in New Jersey: Ascend, GTI, Columbia Care and Acreage to bring the total to a half dozen multi-state operators, according to the head of UFCW – Local 360. Cannabis workers have the wind to their back as the union momentum in New Jersey is picking up.

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How Illinois’ cannabis taxes are spent

Illinois News Joint

One of the comments we get most, especially after publishing monthly cannabis sales totals, is, “Where’s all that tax money going?” According to the CROO website, the Illinois Department of Revenue posts monthly updates how the Cannabis Regulation Fund gets distributed. For more Illinois cannabis industry news, visit here.