Tag Archives: Tax Revenue

Alaska's Marijuana Tax Revenue Falls Short for Two Months in a Row

Alaska’s Marijuana Tax Revenue Falls Short Two Months in a Row

Alaska’s Marijuana Tax Revenue Falls Short Two Months in a Row

A new report has confirmed that Alaska’s marijuana tax revenue fell short two months in a row. The dip started in November 2017 and continued downward through December 2017.

Auditor General DePasquale

Auditor General DePasquale Says Pennsylvania Cannot Afford to Lose Out on Marijuana Legalization Benefits

HARRISBURG, Jan. 23, 2018 /Weed Wire/ – Auditor General Eugene DePasquale today said Pennsylvania cannot afford to lose out on economic and social benefits from marijuana legalization as public support grows and more states allow possession of small amounts for personal use.

Senator Nicholas Scutari Introduces New Jersey Marijuana Legislation

Senator Nicholas Scutari Introduces New Jersey Marijuana Legislation

During his campaign, governor-elect Phil Murphy voiced his support for marijuana legalization in his state of New Jersey. Though Murphy is not officially in office until next week, Sen. Nicholas Scutari has already made moves to fulfill Murphy’s campaign promise.

What's Next for Marijuana Industry After Recent Crackdown?

What’s Next for Marijuana Industry After Recent Crackdown?

The national movement to legalize marijuana took a big step forward this week – and a big step back. California became the largest state in the nation to permit recreational pot use, but on Thursday Attorney General Jeff Sessions rescinded Obama-era guidelines meant to limit federal prosecutions. Atlantic senior editor Derek Thompson joins “CBS This Morning: Saturday” to discuss why this situation is so confusing and what this means for business owners in the burgeoning marijuana industry.

Nevada Marijuana Sales in October Generated $5.8 Million in Tax Revenue

Nevada Marijuana Sales in October Generated $5.8 Million in Tax Revenue

Tax revenue from Nevada’s fledgling marijuana industry continues to climb. On Dec. 20, 2017, the Nevada Department of Taxation reported that marijuana sales brought in approximately $5.8 million in tax revenue in the month of October.

Colorado marijuana sales data

Colorado​ ​Department​ ​of​ ​Revenue​ ​Now​ ​Releasing​ ​Marijuana​ ​Sales​ ​Data

DENVER, Colo., Dec. 12, 2017 /Weed Wire/ — Effective immediately, the Colorado Department of Revenue (CDOR) is releasing statewide historical marijuana sales data from January 2014 to the present and will release monthly reports going forward on the seventh business day of every month.

Massachusetts Marijuana Tax Revenue

Massachusetts Marijuana Tax Revenue Projection Swings Wide for First Year

Massachusetts marijuana tax revenue in the Bay State has been given a wide-ranging projection for recreational marijuana’s first year of sales. According to a Massachusetts Department of Revenue analysis, tax revenue will range between $44-82 million in fiscal year 2019.

Nevada Recreational Marijuana Sales Topped $33 Million in August

Nevada Recreational Marijuana Sales Topped $33 Million in August

While supply shortages may have hampered Nevada recreational marijuana sales when the second month of sales commenced on Aug. 1, 2017, the industry was able to rebound and close out the month of August with more than $33 million in sales.

Medical Marijuana in Montana Ready to Give Slight Boost to State Coffers

Medical Marijuana in Montana Ready to Give Slight Boost to State Coffers

It looks like the enhanced legalization of medical marijuana in Montana will boost the Treasure State’s coffers this year, with sales increasing the amount of money in Montana’s general fund.

Oregon Tax Distributions

First Marijuana Tax Revenue Distributions Coming Soon

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.

marcinmaslowski / 123RF Stock Photo

Audit Reveals Unreported Cash Transactions at Dispensaries in Sacramento

There’s new scrutiny over medical marijuana dispensaries in Sacramento. A city audit found widespread trouble, including concern over pot shops’ possible unreported cash transactions and the possible hit to city tax revenue.

Nevada’s Pot Gamble Brings in Cannabis Tax Revenue Payout

Nevada’s Pot Gamble Brings in Cannabis Tax Revenue Payout

Nevada took a chance on recreational cannabis this summer, and it looks like the payout is huge. In its first month of adult-use sales, Nevada raked in nearly $3.68 million in cannabis tax revenue

Report: California Cannabis Taxes to Keep Black Market Cannabis Alive

Report: California Cannabis Taxes to Keep Black Market Cannabis Alive

As the Golden State readies for the rollout of recreational cannabis on Jan. 1, 2018, some are preparing for a windfall of revenue from California cannabis taxes and others are preparing to continue competing with the black market.

Pennsylvania auditor general says it's time to legalize marijuana

Pennsylvania Auditor General Says It’s Time to Legalize Marijuana

Pennsylvania Auditor General Eugene DePasquale believes legalizing and regulating recreational marijuana could be an antidote to the state’s budget woes.

Study: Colorado Springs Retail Cannabis Would Give City Tax Boon

Study: Colorado Springs Retail Cannabis Would Give City Tax Boon

Colorado’s legal recreational cannabis sales commenced in 2014, but not every municipality chose to embrace the retail market, so a Colorado Springs retail cannabis market has yet to materialize; however, some citizens are looking to change that.

How Marijuana Companies Could Improve Your Community

How Marijuana Companies Could Improve Your Community

Marijuana companies could actually help the communities that host them. And we’re not just talking about tax revenue. Legal marijuana distributors and dispensaries can – and likely will – directly improve the quality of life in the communities that they serve.

Maine Lawmakers OK Bill Requiring Testing Marijuana for Safety

Maine Lawmakers Approve Bill Requiring Testing Marijuana for Safety

Marijuana safety is a major concern for the Maine lawmakers, who want to make sure all marijuana is tested before hitting retail shelves. On July 20, 2017, the Maine House approved a bill that would require the Department of Agriculture to create testing facilities for marijuana.

Colorado’s Marijuana Tax Revenue Now Exceeds Half a Billion Dollars

Colorado’s Marijuana Tax Revenue Now Exceeds Half a Billion Dollars

These days, cannabis is Colorado’s cash crop. In the three-and-a-half years since the state began allowing adults to purchase marijuana for recreational use, cannabis has contributed more than half a billion dollars in tax revenue to both state and local coffers.

Nevada Marijuana Shortage Calls for Emergency Regulation

Nevada Marijuana Shortage Prompts Emergency Regs and Two Distribution Licenses

Tourists and locals alike flocked to Nevada dispensaries after the state greenlit the sale of recreational marijuana, but less than two weeks later dispensaries across the state are facing a major problem: a lack of marijuana. On July 13, 2017, an emergency regulation was approved in an effort to solve the Nevada marijuana shortage and keep businesses open.

Oregon Assesses Marijuana Employment Growth

Marijuana Employment Seeing Rapid Growth in Oregon

On May 23, 2017, the Oregon Employment Department’s Workforce and Economic Research Division released the most recent results of its marijuana employment tracking, identifying rapid growth in the recreational sector.

Finance Minister to Talk Canadian Cannabis Taxes This Summer

Finance Minister to Talk Canadian Cannabis Taxes This Summer

Canada’s Finance Minister Bill Morneau is ready to talk Canadian cannabis taxes with the country’s provinces. On May 15, 2017, during a House of Commons meeting for the Standing Committee on Finance, Morneau addressed the Budget Measure Implementation Act and closed his opening remarks with a note on cannabis taxes.

Nevada Governor’s Marijuana Tax Bill Expected to Move Forward

Nevada Governor’s Marijuana Tax Bill Expected to Move Forward

On March 27, 2017, Nevada Gov. Brian Sandoval introduced Senate Bill 508, a marijuana tax bill that would enforce “an excise tax on sales of marijuana and related products by a retail marijuana store.” On April 13, the bill was introduced to the Senate Finance Committee.

Oregon Bill Aims to Redistribute Marijuana Tax Revenue

Oregon Bill Aims to Redistribute Marijuana Tax Revenue

In Oregon, a state lawmaker has introduced a bill that would funnel more marijuana tax revenue into mental health services. Introduced by Sen. Jeff Kruse, Senate Bill 845 would shift marijuana tax revenue away from the Common School Fund and into mental health and addiction treatment services.

Braddock, Penn., Looks to Medical Marijuana For Economic Revitalization

Braddock, Penn., Looks to Medical Marijuana For Economic Revitalization

A Pennsylvania town that lost its steel industry 25 years ago hopes a new medical marijuana facility will bring economic revitalization. Braddock, Penn., lost its steel industry more than 25 years ago and since has been considered a financially distressed community. But the prospect of a medical marijuana facility is encouraging news for the town.

Alaska's Marijuana Tax Revenue Dipped in January

Alaska’s Marijuana Tax Revenue Dipped in January

Tax revenue for Alaska’s legal marijuana industry dipped in the month of January. With retailers selling approximately 111 pounds of marijuana flower and another 77 pounds of marijuana plant material during the first month of 2017, the state took in $107,500 in marijuana taxes for January, which is $38,300 less than December’s high of $145,800.

Connecticut Talks Green in Recreational Marijuana Estimate

Connecticut Talks Green in Recreational Marijuana Estimate

On Feb. 1, 2017, the Connecticut General Assembly’s Office of Fiscal Analysis released a fiscal estimate for the legalization of recreational marijuana in the state, noting that the state could earn $30.1 million to $63.9 million in tax revenue during the first full year of implementation.

Progress in Cali: San Diego Approves Recreational Marijuana Sales

Progress in Cali: San Diego Approves Recreational Marijuana Sales

While several municipalities in California have enacted temporary bans on recreational marijuana and others have yet to decide the fate of the state’s newly legalized industry, America’s Finest City has just become the first city in San Diego County to approve recreational marijuana sales.

Retail Marijuana Sales in Colorado Exceed $1 Billion

Retail Marijuana Sales in Colorado Exceed $1 Billion

Colorado’s retail sales of marijuana have so far exceeded $1 billion this year. According to a new report from The Cannabist, the state sold approximately $1.1 billion worth of marijuana within the first 10 months of 2016, surpassing the yearly total of $996,184,788 in 2015.

Artists Come Out Strong in Support of Marijuana Legalization in California

Artists Come Out Strong in Support of Marijuana Legalization in California

Artists for 64 is being organized by dream hampton and Mike de la Rocha of Revolve Impact and includes Jesse Williams, Shailene Woodley, Olivia Wilde, Shawn “Jay Z” Carter, Russell Simmons, Danny Glover, Piper Kerman, Ty Dolla $ign, Pusha T., Common, Tim Robbins, Michael K Williams and Al Harrington.

Oregon Collects More Than $40 Million in Marijuana Tax Payments

Oregon Collects More Than $40 Million in Marijuana Tax Payments

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.

Arizona Legalization Campaign Files Suit Over Ballot Summary

Arizona Legalization Campaign Files Suit Over Ballot Summary

On Aug. 29, 2016, the Campaign to Regulate Marijuana Like Alcohol filed a lawsuit against the state of Arizona over the ballot summary of Proposition 205, a measure that would legalize recreational marijuana in the state.


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