A cannabis conference at the state Capitol on Friday will help patients and providers navigate Montana’s medical marijuana laws.
Tag Archives: Department of Revenue
SALEM, Ore., Oct. 6, 2017 /Weed Wire/ — The first distributions of state marijuana tax revenues—totaling nearly $85 million—are on their way to the State School Fund; the Mental Health, Alcoholism, and Drug Services Account; the Oregon State Police (OSP); the Oregon Health Authority (OHA); and Oregon’s cities and counties. All distributions will be complete by October 11, 2017.
Montana medical cannabis providers have until Oct. 15, 2017, to file and pay their taxes for sales made in July, August and September. This represents the first time the state’s Department of Revenue has collected taxes on medical cannabis sales.
Marijuana sales in Colorado, the first state in the nation to legalize recreational weed, surpassed $750 million during the first half of 2017, up about 25 percent compared to the first six months of 2016.
Making a marijuana dispensary tax payment without a bank account is difficult for numerous reasons, but now dispensary owners might also have trouble trusting the actual tax man collecting the payment.
According to a recently released report from the Alaska Department of Revenue, the state banked $128,000 in marijuana tax revenue for the month of February, marking a slight increase from the $107,500 collected in January.
On Feb. 21, 2017, the Oregon Department of Revenue announced that it had collected $5.3 million in marijuana tax revenue, brining the state’s total marijuana tax collection to $65.4 million.
SALEM, Ore., Feb. 21, 2017 /Weed Wire/ — The Department of Revenue received $5.3 million in marijuana tax payments in January 2017.
On Jan. 20, 2017, the Oregon Department of Revenue announced that as of Dec. 31, 2016, it had collected $60.2 million in marijuana tax revenue, surpassing the $43 million forecast by state economists earlier this year.
As of December 31, 2016, the Department of Revenue has received $60.2 million in marijuana tax payments since the state began taxing recreational marijuana in January 2016.
SALEM, Ore., Jan. 17, 2017 /Weed Wire/ — The year is just starting, but for many who sold recreational marijuana in October, November or December, there are already tax obligations they need to fulfill.
DENVER, Jan. 13, 2017 /Weed Wire/ — Retail sales of marijuana in Colorado totaled well over $1 billion in the first ten months of 2016 and are estimated to reach $1.3 billion by year’s end, according to data provided by the state’s Department of Revenue.
SALEM, Ore., Dec. 12, 2016 /Weed Wire/ — The Department of Revenue has added a new page dedicated to marijuana tax statistics to its website.
In Anchorage, Alaska, the Alaska Department of Revenue’s Tax Division has started to receive its first batch of cash tax payments on legal cannabis sales and transfers.
On Nov. 18, 2016, the Colorado Department of Revenue announced a new rule that would prevent holders of liquor licenses from allowing on-site use of marijuana, striking a blow to supporters Initiative 300, a ballot measure allowing the social use of marijuana in Denver.
With legal marijuana sales underway in Alaska, growers will soon be submitting their first tax payments to the state.
According to an announcement made by the Oregon Department of Revenue on Oct. 17, 2016, as of Sept. 30, the state of Oregon has collected $40.2 million in tax revenue this year from the legal marijuana industry, approaching the 2016 forecast of $43 million estimated by state economists earlier this year.
SALEM, Ore., Oct. 17, 2016 /Weed Wire / — As of September 30, 2016, the Department of Revenue has received $40.2 million in marijuana tax payments. Medical marijuana dispensaries started collecting a 25-percent tax on their recreational marijuana sales in January.
Colorado has had another recording breaking sales month. On Oct. 12, the state Department of Revenue released data that revealed medical and recreational marijuana stores sold approximately $126 million of marijuana in August 2016, surpassing July’s record of $122 million.
DENVER, Sept. 26, 2016 /Weed Wire/ — Effective Oct. 1, Colorado will implement new rules regarding medical and retail marijuana products.
On June 30, 2016, Oregon’s Finest, the first medically licensed dispensary in Oregon, released “How the Cannabis Business Community Pays Taxes” on YouTube.
As of May 30, 2016, the state of Oregon has collected approximately $14.9 million in marijuana tax revenue for the year. This is according to a new report by the Oregon Department of Revenue, released on June 22, 2016.
Colorado’s monthly cannabis sales have reached a new apex in the legal era with a record-setting $117 million worth of flower, edibles and concentrates sold in April 2016.
Oregon’s legal marijuana sales brought in nearly $265 million in 2015, according to a report by leading cannabis market research firms. The report projects Oregon’s legal marijuana sales will reach $481 million by the end of 2016.
On March 17, 2016, the Oregon Department of Revenue announced that it had released marijuana tax collection numbers for taxes remitted by medical marijuana dispensaries for last month’s sales.
SALEM, Ore., March 17, 2016 /Weed Wire/ — February was the first month for medical marijuana dispensaries to remit the taxes they collected on their previous month’s recreational marijuana sales.
EUGENE, Ore. (AP) – Nearly a fourth of Oregon’s medical marijuana dispensaries selling the drug recreationally are not registered to pay taxes on those sales.
In Alaska, the state Marijuana Control Board has released a series of questions and answers on its third set of proposed marijuana regulations, which covered topics such as cultivation facility licensing, edibles concentrations, and marijuana testing.
A marijuana industry event that occurred earlier this month is under investigation by the Colorado Department of Revenue.
Taxes are like flies: no one really wants them around, but they play a vital role in their respective ecosystem. As summer flies by, Colorado officials are counting coffers and noticing an extreme shortfall in projected revenue from taxes on recreational cannabis.
Recreational marijuana has owners of Denver industrial property seeing green in more ways than one. Industrial warehouse space is becoming scarce in Denver for pot-growing operations. On March 11, 2o14, The Denver Post reported that the competitive market of warehouses for pot operations puts dispensaries in a head-to head competition for the space.