Remove news tags cannabis-taxes
article thumbnail

CROO releases notice for RFID Tags from Metrc

Illinois News Joint

The Cannabis Regulation Oversight Officer (CROO) released a notice for cannabis business establishments in Illinois concerning Radio Frequency Identification (RFID) Tags from Metrc. Businesses may also purchase tags independently from Metrc at their own expense. There are two types of RFID Tags: Plant and Package Tags.

article thumbnail

New Mexico: State Court of Appeals ruling that medical marijuana producers can claim a tax deduction for prescription medication

Cannabis Law Report

SANTA FE – A state Court of Appeals ruling that New Mexico medical marijuana producers can claim a tax deduction for prescription medication could affect prices for 80,000 or so enrolled patients statewide – and the state budget. A tax department spokesman said Friday that the agency was reviewing the ruling and weighing legal options.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The IRS Offers Some Clarity on Tax Deductions in the Cannabis Industry

Veriheal

When it comes to the burgeoning cannabis industry in the United States, one subject that comes up over and over is taxes. For many states, tax revenue is a motivating factor when it comes to legalizing cannabis. And cannabis users are not the only ones being taxed. And it’s easy to understand the reason why.

article thumbnail

Washington DC…Gift To “lawyers” …To Access Cannabis

Cannabis Law Report

This sleight of hand allows I-71 cannabis entrepreneurs to skirt DC’s law allowing only personal use and sale of medical marijuana. This sleight of hand allows I-71 cannabis entrepreneurs to skirt DC’s law allowing only personal use and sale of medical marijuana. The Wild West of Unregulated Cannabis Retailers.

Access 98
article thumbnail

Virginia joins 15 other states in legalizing marijuana – Cannabis Business Executive

SpeedWeed

Only two other states — Illinois and Vermont — have passed legislation to legalize, tax and regulate recreational marijuana through the legislature. Filed Under: Breaking News , News & Insights , Spotlight , Virginia Tagged With: Adult-use legalization , Virginia. Read More @ Politico]. . View original article.

article thumbnail

Is Growing and Dispensing Cannabis a Sin?

Dykema (Cannabis Law Blog)

In mid-May, Treasury Secretary Mnuchin told the Subcommittee on Financial Services and General Government of the Senate Appropriations Committee that cannabis businesses would not be eligible for Opportunity Zone (“OZ”) tax benefits. Read More › Tags:

article thumbnail

Average Price of Cannabis 17% Higher Since Legalization

WeedAdvisor

Those who frequently use cannabis understand that it can get quite expensive. According to Kelowna Capital News , the average price of illegal cannabis is 17% higher roughly three months after legalization. Cannabis Prices Since Legalization. One reason is the regulatory framework and taxes. 17 up to $8.02