tax

  1. Ron Strider

    A $1 Billion Marijuana Windfall For New Jersey? Some Say It's Possible

    New Jersey could reap as much as $1 billion a year from legal marijuana – the equivalent of more than a half-cent boost in the sales tax – if the state taxes the industry aggressively and imposes fees on growers, distributors, testing labs, retailers and delivery services, according to...
  2. Ron Strider

    County Leaders Grapple With Tax Structure, Analyst Warns Against Visions Of Grandeur

    California's new gold rush could be green, and government leaders are grappling with how to cash in once they know if -- and where -- new cannabis ventures will be allowed. Statewide, more than $1 billion could be collected from pot sales and other activity within the next several years...
  3. Ron Strider

    Maine Lawmakers Optimistic That Disagreements On Marijuana Bill Can Be Resolved

    Key lawmakers will meet with Gov. Paul LePage on Friday to try to reach agreement on how to change an adult-use marijuana bill so it would gain his support. Members of a special committee that drafted the bill after state voters approved legalization in 2016 said they were optimistic that...
  4. Ron Strider

    CA: San Diego's Marijuana Tax Will Be A Windfall, But Officials Wonder How Big

    San Diego expects to get a windfall of new revenue from the city's tax on recreational marijuana sales that begin Jan. 1, but officials concede they are taking guesses at how many millions per year the tax will generate. Estimates presented to the City Council this month predict $5.5 million...
  5. Ron Strider

    Breaking Down The Regulatory Differences Between West Coast Cannabis Markets

    The West Coast is looking mighty green these days. As of Jan. 1, 2018, when California joins the growing list of states with legalized recreational cannabis markets, adults 21 years and older will be able to legally purchase, possess and consume marijuana from the Arctic Circle all the way down...
  6. Ron Strider

    Nevada Marijuana Tax Brings In $5.8 Million In October

    Tax proceeds on Nevada's marijuana sales is continuing an upward trajectory, establishing a new monthly high in October during the fourth month of the state's recreational marijuana program, officials announced Wednesday. The industry brought in more than $5.8 million in October, which...
  7. Ron Strider

    Nevada Recreational Marijuana Sales Soar To Nearly $38M In October

    Nevada's budding recreational marijuana industry posted its highest monthly sales totals yet in October, topping $37.9 million. The state Department of Taxation on Wednesday released the October figures, the fourth full month of recreational sales. Recreational and medical marijuana sales...
  8. Ron Strider

    Taxes On Wholesale Marijuana Frustrate Alaska Growers

    With the cannabis supply in Alaska increasing and wholesale prices declining, growers are feeling a pinch from the state's wholesale tax. Some are calling for reform. The drop in wholesale prices is good for consumers because the retail price of marijuana also is dropping. Quality is a...
  9. Ron Strider

    Legal Marijuana Just Can't Catch A Break From Washington

    The marijuana industry has taken a couple of hits in Washington this month. First, an amendment that would have stripped a part of the tax code that places extra financial burden on cannabis businesses was pulled at the last minute from the GOP tax plan approved by the U.S. Senate. Also...
  10. Ron Strider

    Canada: Provinces Reach Tax Deal For Recreational Marijuana

    Canada's provinces will be getting the lion's share of the lucrative taxation revenues from legal cannabis. The provinces have agreed in principle to a two-year tax sharing agreement that gives them a 75% cut of those eventual revenues. Canada's governing Liberals are planning to...
  11. Ron Strider

    CA: Legal Cannabis Consumption May Triple In SF, Totaling $240M In Sales Annually

    San Francisco's legal cannabis consumption could triple to 30 million grams annually in the new era of recreational pot and total sales could hit $240 million, according to a draft city report. Medical marijuana is currently legal in San Francisco and sold by 45 city-permitted dispensaries or...
  12. Ron Strider

    Will The GOP Tax Plan Lead To A Surge In Marijuana Legalizations

    There's a reason the legal marijuana industry is known as the "green rush." According to a report from Marijuana Business Daily, entitled "Marijuana Business Factbook 2017," the U.S. legal cannabis market is expected to grow by 45% in 2018 and by an aggregate of 300% between 2016 and 2021. By...
  13. Ron Strider

    Cannabis Advocates Want 'Unjust' Federal Tax Code Changed

    The United States tax code offers businesses the opportunity to deduct expenses on tax returns, including items such as payroll and rent. That can significantly lower a company's tax bill. Unless you're in the marijuana industry. The reason why? Provision 280E in the Internal Revenue Code. It...
  14. Ron Strider

    Why The GOP Tax Bill Could Be Great News For Marijuana Stocks

    Prospects for tax cuts are greater than ever now that the U.S. Senate narrowly approved a GOP tax bill early Saturday morning. The House of Representatives passed another version of tax reform in November. Now, the two chambers must work out their differences to produce a final bill for...
  15. Ron Strider

    High Time For Cannabis To Go Cashless

    As Congress and the White House work on a tax bill that will reduce revenues going to states, they are simultaneously impeding the growth of an industry that is set to add billions to state tax revenues: legal cannabis. Under the guise of protecting public health and safety, federal policy is...
  16. Ron Strider

    Cannabis Companies Crossing Fingers For 280E In Tax Vote

    When a U.S. Congressman recently told me that getting rid of Section 280E of the Internal Revenue Code "would amount to a tax cut for pot growers," I was caught off guard by his twisted interpretation of this tax policy. It was a huge reminder of how much more work organizations like the New...
  17. Ron Strider

    How Tax Reform Could Push More States To Legalize Marijuana

    Over the past few decades, the two statements most associated with the Republican Party are probably "No new taxes" and "Just say no." Most Republican lawmakers believe that more money should remain in people's pockets and less in government coffers (lower taxes). They also believe the way...
  18. Ron Strider

    GOP Senator Wants Tax Cut For Marijuana Businesses

    A Republican senator from a state where marijuana is legal is pushing this week to give cannabis businesses a measure of tax fairness. Sen. Cory Gardner of Colorado wants to attach an amendment to a wide-ranging Republican-led tax reform bill that would allow state-legal marijuana growers...
  19. Ron Strider

    CA: Tax Rates And Responsibilities For Cannabis Business

    Beginning January 1, 2018 the cannabis cultivation tax and excise tax will take effect. Cultivators are responsible for paying cultivation tax. The current cultivation tax rates are $9.25 per dry-weight ounce of cannabis flowers, and $2.75 per dry-weight ounce of cannabis leaves. Both...
  20. Ron Strider

    MA: A Higher Tax On Recreational Marijuana Would Be Good For Boston

    Last November, Massachusetts legalized recreational marijuana. In the year since, this budding industry has had to face a slew of different challenges, obstacles and naysayers. With the first dispensary set to open in July, the state is still in the process of figuring out how this new industry...