Business

Columbia Care’s D.C.-based dispensary sells 3.5 grams of marijuana for $35, compared to the $65 price for the same amount the company charges patients in Virginia. By Ned Oliver, Virginia Mercury As Virginia’s medical marijuana industry closes out its first year of sales, some patients are complaining about long waits to register with the state
Illinois marijuana retailers have sold nearly $1 billion worth of legal recreational cannabis products so far in 2021. With September’s $100 million-plus haul, the state has now seen $997,067,100 in adult-use marijuana transactions this year. The Illinois Department of Financial and Professional Regulation (IDFPR) reported on Monday that people purchased 2,702,260 recreational cannabis products last
Illinois marijuana retailers have sold nearly $1 billion worth of legal recreational cannabis products so far in 2021. With September’s $100 million-plus haul, the state has now seen $997,067,100 in adult-use marijuana transactions this year. The Illinois Department of Financial and Professional Regulation (IDFPR) reported on Monday that people purchased 2,702,260 recreational cannabis products last
Illinois marijuana retailers have sold nearly $1 billion worth of legal recreational cannabis products so far in 2021. With September’s $100 million-plus haul, the state has now seen $997,067,100 in adult-use marijuana transactions this year. The Illinois Department of Financial and Professional Regulation (IDFPR) reported on Monday that people purchased 2,702,260 recreational cannabis products last
The National Association of State Departments of Agriculture (NASDA) is urging the U.S. Department of Agriculture (USDA) to give hemp two different classifications depending on its intended use in order to expand access to federal grant programs. Members of NASDA agreed last week to amend its organizational policy on USDA’s Specialty Crop Block Grant Program.
A New York-based lobbying firm that’s headed by a former Republican U.S. senator announced on Tuesday that it is entering the marijuana space after the newly inaugurated governor took key steps toward implementing legalization in the state. Former Sen. Alfonse D’Amato (R-NY) founded Park Strategies in 1999, just after leaving the Senate with an established
Adult-use marijuana sales in Illinois exceeded $120 million in August, state officials reported on Thursday. It’s the second highest sales record since the state’s recreational market launched last year and the sixth month in a row that sales surpassed $100 million. Illinois saw $121,933,542 in cannabis purchases last month, with $81,275,830 coming from in-state residents
Arizona brought in about $21 million in medical and adult-use marijuana tax revenue in July, state officials reported on a new webpage that enables people to more easily track how the industry is evolving. Medical cannabis taxes were slightly higher at $5,485,102 last month, compared to $4,445,848 collected from the recreational market, according to the
The Internal Revenue Service (IRS) on Wednesday hosted a forum dedicated to tax policy for marijuana businesses and cryptocurrency. The seminar, which was presented by a representative of the National Association of Tax Professionals (NATP), examined issues such as allowable tax deductions while cannabis remains federally illegal and how different states approach taxing marijuana. It
July was an especially productive and profitable month for the marijuana industry, with retailers making record-breaking sales in at least four states. This is continuing a trend that’s been observed in numerous states as cannabis markets have come online and matured. And it’s all the more impressive considering how the industry has thrived even amid
July was an especially productive and profitable month for the marijuana industry, with retailers making record-breaking sales in at least four states. This is continuing a trend that’s been observed in numerous states as cannabis markets have come online and matured. And it’s all the more impressive considering how the industry has thrived even amid
Legal marijuana sales in multiple states reached record highs in mid-2020 as coronavirus spread across the nation, according a new study. To date, sales in the four states examined in the analysis—Alaska, Colorado, Oregon and Washington—”have increased more during the COVID-19 pandemic than in the previous two years.” The study, authored by a group of
Legal marijuana sales in multiple states reached record highs in mid-2020 as coronavirus spread across the nation, according a new study. To date, sales in the four states examined in the analysis—Alaska, Colorado, Oregon and Washington—”have increased more during the COVID-19 pandemic than in the previous two years.” The study, authored by a group of
The marijuana industry will “continue to grow,” a federal economic committee said in a new series of recommendations, and that means steps need to be taken to ensure that it’s tracked more diligently under a system that enables analysts to follow markets and publish statistical data. In proposal published in the Federal Register last week,
Missouri regulators say they feel requiring medical marijuana business license ownership disclosures under a House-approved amendment could be unconstitutional, and they may urge the governor to veto the legislation.  By Jason Hancock, Missouri Independent An effort by lawmakers to require disclosure of ownership information for businesses granted medical marijuana licenses was derailed on Thursday, when
Missouri regulators say they feel requiring medical marijuana business license ownership disclosures under a House-approved amendment could be unconstitutional, and they may urge the governor to veto the legislation.  By Jason Hancock, Missouri Independent An effort by lawmakers to require disclosure of ownership information for businesses granted medical marijuana licenses was derailed on Thursday, when
Missouri regulators say they feel requiring medical marijuana business license ownership disclosures under a House-approved amendment could be unconstitutional, and they may urge the governor to veto the legislation.  By Jason Hancock, Missouri Independent An effort by lawmakers to require disclosure of ownership information for businesses granted medical marijuana licenses was derailed on Thursday, when
Missouri regulators say they feel requiring medical marijuana business license ownership disclosures under a House-approved amendment could be unconstitutional, and they may urge the governor to veto the legislation.  By Jason Hancock, Missouri Independent An effort by lawmakers to require disclosure of ownership information for businesses granted medical marijuana licenses was derailed on Thursday, when
Lawmakers in the U.S. House of Representatives have introduced three new bills to make state-legal marijuana businesses eligible for federal small business services, including loans, disaster relief and grant programs. The package of legislation is aimed at establishing parity for cannabis businesses, which are currently prohibited from receiving federal aid due to marijuana still being
Lawmakers in the U.S. House of Representatives have introduced three new bills to make state-legal marijuana businesses eligible for federal small business services, including loans, disaster relief and grant programs. The package of legislation is aimed at establishing parity for cannabis businesses, which are currently prohibited from receiving federal aid due to marijuana still being
Lawmakers in the U.S. House of Representatives have introduced three new bills to make state-legal marijuana businesses eligible for federal small business services, including loans, disaster relief and grant programs. The package of legislation is aimed at establishing parity for cannabis businesses, which are currently prohibited from receiving federal aid due to marijuana still being
Lawmakers in the U.S. House of Representatives have introduced three new bills to make state-legal marijuana businesses eligible for federal small business services, including loans, disaster relief and grant programs. The package of legislation is aimed at establishing parity for cannabis businesses, which are currently prohibited from receiving federal aid due to marijuana still being
In a new report published this month, Congressional researchers examine tax policies and restrictions for the marijuana industry—and how those could change if any number of federal reform bills are enacted. The Congressional Research Service (CRS) analysis focuses on a section of Internal Revenue Services (IRS) code known as 280E, which precludes cannabis companies from
In a new report published this month, Congressional researchers examine tax policies and restrictions for the marijuana industry—and how those could change if any number of federal reform bills are enacted. The Congressional Research Service (CRS) analysis focuses on a section of Internal Revenue Services (IRS) code known as 280E, which precludes cannabis companies from