Colorado cannabis sales are on track to reach an all-time high at record speed, with cannabis having already banked $1 billion in sales within the first eight months of 2017.
Tag Archives: Sales tax
New Nevada marijuana laws will likely turn the state known for the partying in Las Vegas, into a cannabis destination, as well.
As public support for legalization rises, policymakers are left to figure out the proper way to handle marijuana taxes if their state follows the trend.
A bill that just passed through the State Legislature clarifies the law that county governments do have the authority to collect special marijuana sales tax.
On Jan. 17, 2017, Colorado Gov. John Hickenlooper announced a plan to raise the sales tax on marijuana from 10% to 12% in order to cover a $135.1 million budgetary shortfall.
DENVER, Jan. 17, 2017 /Weed Wire/ — The Office of State Planning and Budgeting (OSPB) today submitted budget amendments to the Joint Budget Committee that apply to the FY 2017-18 budget request.
Maine Gov. Paul LaPage on Dec. 31, 2016, signed a proclamation certifying the state’s narrow vote to approve adult-use of marijuana, according to a Jan. 3, 2017, article in the Portland Press Herald. LaPage confirmed the signature during a Jan. 3, 2017, radio show program during which he also urged Maine legislators to set a moratorium on marijuana sales.
Medical marijuana patients in California are getting a tax break, and that could mean less money for the state’s coffers. The Board of Equalization recently notified users they do not have to pay sales tax on medical pot if they have both a recommendation from a doctor and the appropriate identification card.
According to a new report from the Oregon Legislative Revenue Office, the state expects recreational sales tax revenue volume to increase by 10 percent for June 2016.
SACRAMENTO — California would levy a new 15 percent tax on medical marijuana sales to enforce new regulations and pay for state programs, rehabilitation and parks under a bill introduced Wednesday.
As Oregon prepares for the legalization of recreational marijuana on July 1, 2015, state legislators are considering making changes to how recreational marijuana is taxed. Those in support of the changes see it as a more workable solution than a harvest tax, but those in opposition see it as just another cash grab by politicians.
Oregon’s legislators proposed a new retail sales tax for marijuana designed to replace the harvest tax approved by voters last November.
Washington state’s marijuana market looks like it is off to a slow start, or at least that is according to a new report released by Moody’s, a credit rating agency. It appears that high taxes, low supply and easy access to medical marijuana have led to a lackluster performance thus far; and analysts project that sales taxes collected from the sale of recreational cannabis will fall short of the projected $51.2 million.
If there are still any cannabis naysayers left in the state of Colorado, then no one can hear them over the ridiculous amount of money being made there. According to the Denver Post, Colorado made $22 million in recreational sales in April 2014, netting the state $3.5 million in tax revenue. Sales were likely boosted by the cannabis holiday 4/20, which attracted thousands of out-of-state visitors this year.