SAN FRANCISCO, Nov. 8, 2017 /Weed Wire/ — Residents of seven California cities voted to impose local taxes on cannabis in Tuesday’s elections. With retail sales set to begin on January 1, the newly approved measures will add to the already substantial tax burden on legal cannabis, potentially undermining California’s fledgling legalization initiative, according to Fitch Ratings.
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Canadian Prime Minister Justin Trudeau introduced legislation to legalize recreational marijuana throughout the country, which plans to be in effect on Canada Day (July 1) 2018. Now, many experts have predictions for the Canadian marijuana economy as a result of the cannabis industry becoming legal.
Buying legal marijuana in California could be pricey enough to keep the black market healthy. Between customers, retailers and growers, taxes on cannabis may reach as high as 45% in parts of the state, according to a Fitch Ratings report.
The high-growth industry certainly offers terrific prospects that would be envied by many tech stocks. However, a big hurdle for some investors is investing in “sin stocks,” or what could be perceived as unethical industries and businesses.
While California may grow eight times the amount of cannabis state residents can consume, the United States Drug Enforcement Administration is dimming the brilliance of the Golden State’s illegal cannabis plants.
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.
NEW YORK, Sept. 25, 2017 /Weed Wire/ — California’s high cannabis taxes will encourage black market sales and limit potential local government revenues from this new market, Fitch Ratings says.
Ontario will try to sell legal pot for a price low enough to squash the black market. The government plans to establish a price for recreational marijuana that isn’t too high in order to eliminate illicit sales.
Washington recreational cannabis sales and diversion rates took a dip when neighboring Oregon enacted recreational legalization.
Recreational cannabis is a $6 billion industry that is projected to reach $50 billion in legal annual sales by 2026. Here’s what you need to know if you’re thinking of investing in marijuana.
While the Golden State is preparing for the rollout of recreational legalization, it’s already having to address the issue of a California cannabis surplus.
On July 19, 2017, representatives from multiple federal agencies joined local officials in Colorado Springs to have a closed-door meeting on the effects of Colorado’s legal marijuana industry.
According to Emily Wilson, some medical patients across the valley can’t afford the price gouge on Nevada marijuana and are turning to the streets for cheaper prices.
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.
Lawmakers haven’t been able to tighten Massachusetts cannabis regulations in the ballot law after it passed 185 days ago.
American Vice: Black Market Marijuana follows four outlaws who run successful businesses growing, selling, and distributing illegal marijuana.
On Jan. 4, 2017, Rhode Island’s Department of Business Regulation issued licenses to the state’s first three medical marijuana cultivators, all of which are based in Warwick.
As more states move to legalize pot, Humboldt County, California, an epicenter of the underground marijuana industry, has begun a new, bold experiment to bring growers out of the shadows and regulate the growth, sale and environmental impact of cannabis.
On Dec. 13, 2016, the Sonoma County Board of Supervisors rejected a proposal to permit small-scale cannabis cultivation in rural residential zones.
These federal hurdles for legal marijuana are being addressed by proposals in Congress.
On Oct. 3, 2016, the Niagara Regional Police Service seized more than 4,000 illegal cannabis plants from one of Health Canada’s licensed producers in Niagara-on-the-Lake, Ontario.
In the state of Colorado, retail marijuana sales have reached an all time high. According to The Denver Post, the legal marijuana industry brought in more than $122 million in revenue for the month of July, representing a 27 percent increase from the previous year.
On Sept. 2, 2016, residents of Christiania, a Danish free town in Copenhagen, started tearing down stalls selling cannabis on the town’s main street.
With millions of voters in Massachusetts poised to vote on a referendum to legalize recreational marijuana in the state, a citizen panel has just released its findings on legalization’s potential impacts.
Rural Trinity County is home to 13,500 people in Northern California and marijuana production is rampant there. Along with Humboldt and Mendocino counties, Trinity comprises California’s “Emerald Triangle,” a region known for its prolific marijuana farming.
On July 25, 2016, Italy’s Chamber of Deputies began debating a bill that would legalize recreational cannabis in the country.
In the coming days, the Canadian government is expected to announce the formation of a marijuana task force.
Speaking Wednesday at an economic conference, Canadian Prime Minister Justin Trudeau made one of the more buttoned-down, straight-edged arguments for marijuana legalization I’ve heard in recent years.
Many people who work in the emerald triangle’s underground economy think of it as just a job. However, for the majority of people outside the cannabis industry there is a lot of mystery.
In an effort to combat the proliferation of illegal marijuana cultivation, one Alaskan state lawmaker has a proposed a bill that would impose financial penalties on illegal grow operations.
During a press conference on Jan. 13, 2016, Canadian Prime Minister Justin Trudeau addressed two main reasons why Canada is pursuing recreational marijuana legalization: to protect minors from accessing marijuana and to squelch the black market’s marijuana revenue.
On Jan. 7, 2016, during his final state of the state address, Vermont Gov. Peter Shumlin announced his support for the legalization of recreational marijuana. Shumlin criticized the war on drugs, calling it “outdated” and “failed,” and stressed the need to end black market marijuana sales.
One of the ongoing rationalizations for the legalization of the drug trade in the United States has been to stop the associated crime that comes with prohibition. The drug trade across the Mexican border is one of the bloodiest on a regular basis.
Almost 11 months into the legalization of marijuana, data is starting to roll in about Washington state’s progress with the new industry and now the laws that put the industry in play are starting to evolve.
When the first recreational marijuana stores opened in Washington in July 2014, there was a consistent problem with supply—there simply was not enough. Close to eight months later the tables have turned in a drastic way.
One of the announced goals of Initiative 91, through which Oregonians voted to legalize recreational marijuana, is to prevent the revenue from the sale of marijuana from going to criminal enterprises, gangs and cartels.
Not you, not me, tax the man behind the tree. Unfortunately, discussions of tax policy sometimes never get beyond this point, but setting tax policy is like building infrastructure.
Vermont could generate up to $75 million in annual tax revenue if it chooses to legalize recreational cannabis, according to a report published last week by the Rand Corporation.
Cannabis stocks started the day under selling pressure. However, the negative pressure eased a bit as broader markets lifted higher.
Legalization and the black market are oil and water for the marijuana industry. Neither side of the law does the other side any favors.
Cannabis Road is now offline after suffering from an attack that saw hackers abscond with 200 BTC or roughly $100,355 at press time.
Supporting a legitimate industry sometimes takes shutting down the dark side. The Department of Justice has made preventing illegal marijuana cultivation on tribal and public lands one of its top enforcement priorities.
It is the summer of 2014 and the legalization snowball continues to roll down the marijuana slope; it has been picking up speed for the past six months as Colorado and Washington have legalized the plant. Furthermore, since 1996, 23 states have changed their laws to allow medical marijuana.
On Tuesday, July 8, 2014 Washington officially became the second state in the union to legalize recreational marijuana. Only six licensed shops were open, but that didn’t stop thousands of cannabis enthusiasts from lining up around the block to be among the first to buy legal cannabis in their state.
Mexican drug cartels are often synonymous with unspeakable violence. But trying to shut down a criminal enterprise, especially an international one, is like squeezing a balloon: The air goes elsewhere. If the commodity is not marijuana, it might be heroin or human beings.