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The Effects of Big Data and Technology on the Marijuana Industry

SpeedWeed

Big data and technology have become critical to a wide variety of industries in recent years, and the cannabis industry is no exception. Through advanced data collection and the application of sophisticated algorithms, usable data is now available to help marijuana businesses: Predict trends. Met consumer demands.

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The Tax Foundation: States Projected to Post Higher Marijuana Revenues in 2021

Cannabis Law Report

With several states contemplating legalization of recreational marijuana, and federal lawmakers starting the process of federal descheduling , it is a good time to examine the tax implications of legalization. The following table shows the states that levy excise taxes on marijuana. In total, states with licensed markets collected $1.7

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Article: The Effects of Big Data and Technology on the Marijuana Industry

Cannabis Law Report

Let’s take a closer look at five key ways big data and technology are directly impacting the industry. Big Data Streamlines the Marijuana Regulatory Process and Helps Close the Scientific Research Gap. Big Data Improves Distribution in the Marijuana Industry. Source: [link]. Global Cannabis Applications Corp.

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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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California Shattered Marijuana Tax Revenue Record In Latest Fiscal Year, State Reports

Cannabis Law Report

Marijuana Moment reports. California collected about $817 million in adult-use marijuana tax revenue during the 2020-2021 fiscal year, state officials estimated on Monday. The state levies two excise taxes on cannabis: a retail excise tax and a cultivation tax. Fourth Quarter of 2020-21: $213 Million.

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MPP Report: Marijuana Tax Revenue in States that Regulate Marijuana for Adult Use

Cannabis Law Report

Legalizing marijuana for adults has been a wise investment. billion in tax revenue from legal, adult-use marijuana sales. Eight of the laws passed in 2020 or 2021, and in seven of those states, licensing and tax collections have not yet begun. standard statewide sales tax was levied on marijuana sales. Colorado (pop.

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Update: Massachusetts Marijuana Establishments Surpass $2 Billion in Gross Sales

Cannabis Law Report

On eve of Commission’s fourth birthday, Marijuana Establishments surpass $2 billion in gross sales since retail stores opened in Massachusetts; progress continues to achieve industry goals. Over the first year of adult-use sales , from November 2018 to November 2019, 33 Marijuana Retailers generated $393.7

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