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.
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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.
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.
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became the largest state in the nation to permit recreational pot use, but on Thursday Attorney General Jeff Sessions rescinded Obama-era guidelines meant to limit federal prosecutions.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.
The state of Alaska reported a dip in tax collections from legal marijuana businesses in November.
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.
While the Evergreen state launched its Washington marijuana data dashboard back in 2015, the Centennial State is just now getting around to releasing its Colorado 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 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.
Alaska’s cannabis tax revenue continued a steady climb upward in September, with $723,757 collected statewide, according to a state official.
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.
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.
Nearly three years after Oregon voters voted to legalize marijuana for adult use, several groups are reaping the benefits.
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.
While Bluegrass State hemp has been growing since 2014, Kentucky legalization has yet to take root; however, one state senator is hoping to change that.
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 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
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 Eugene DePasquale believes legalizing and regulating recreational marijuana could be an antidote to the state’s budget woes.
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.
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.
You don’t have to be Nostradamus to successfully predict that more states will legalize marijuana — whether for medicinal use only or for recreational use.
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.
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.
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.
As June comes to a close, employees of the Montana medical marijuana program are busy preparing for the changes that will go into effect by the end of the week.
On June 21, 2017, the Massachusetts House of Representatives voted overwhelmingly to approve a bill that would impose a major overhaul of the state’s recreational marijuana laws.
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.
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.
Recreational marijuana is now legal in several U.S. states, and more than 20% of people over 21 years old in the country are allowed to smoke legally. CNN’s Cristina Alesci explains what you need to know about the future of the weed industry.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
The legal marijuana industry had a $2.39 billion impact on the state of Colorado in 2015. This is according to a new report released by the Marijuana Policy Group, an economic and market research firm based out of Denver.
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.
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.
A fully developed legal market for medical marijuana in Michigan could lead to millions of dollars in new state tax revenue.
The European travel guide explains why he is on a mission to make marijuana legal across the country.
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.
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.
As of July 31, 2016, the state of Oregon has collected approximately $25 million this year in tax revenue from the legal marijuana industry. This is according to a recent report released by the Oregon Department of Revenue released on Aug. 22, 2016.