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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. million to help expand access to legal retail throughout California.

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Tax Practitioners’ Meeting includes Section 280E cannabis deduction

Illinois News Joint

The Illinois Department of Revenue (IDOR) today hosted the 2023 Tax Practitioners’ Meeting and PowerPoint presentation. The presentation included one significant cannabis tax item, the business expense deduction for licensed Illinois cannabis businesses. In 2022, Illinois took in $450,463,952.

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Resource & Consultancy: Illinois Extension Educators Industrial Hemp Program

Cannabis Law Report

Illinois Extension educators have curated a collection of resources related to the legislation, production, and harvesting of industrial hemp. There were several excellent presentations shared at the Industrial Hemp Production Workshop in March, 2019, including many of the presentations listed below. Industrial Hemp Production.

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Los Angeles Department Of Cannabis Regulations Publishes SPARK Video

Cannabis Law Report

In April 2021, the City of Los Angeles Department of Cannabis Regulation (DCR) launched SPARK , a multifaceted community and stakeholder engagement program that allowed community members and stakeholders to share input with DCR. Today, DCR is releasing the SPARK video based on the program and its findings.

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New Mexico Health Department Secretary Kathy Kunkel Wants Cannabis Revenue Targeted at Mental Health & Substance Abuse Programs

Cannabis Law Report

SANTA FE – Tax dollars generated by legalizing recreational cannabis use in New Mexico could be used to pay for law enforcement training, mental health programs, drug addiction treatment and more, under recommendations being crafted by a state task force. Eleven states have legalized recreational cannabis.

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Adult-Use Cannabis Legalization Effort Begins in Ohio

Cannabis Law Report

While regular state and local sales taxes will also apply, included is a 10% cannabis tax rate on adult-use sales that would be allocated as follows: 36% of the tax will support social equity and jobs programs – if passed, it is estimated this could generate $150 million or more annually for social equity and jobs programs in Ohio.

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Article: A Comprehensive Cannabis Program for New York State: The Second Act

Cannabis Law Report

This year’s proposed legislation also reflects that New York’s time remaining on the sidelines of adult-use cannabis was well-used to learn from the challenges and shortcomings of other adult-use programs in the country. The Program. Moreover, New York’s cannabis program would consist of three branches: medical, adult-use and hemp.