Marijuana Business News

Synonyms: 
stocks
business
Mon
24
Oct

Cannabis Tax Revenue Is Overwhelming Oregon's Tax Office

Oregon’s adult-use cannabis program is taking in so much tax money that it’s affecting day-to-day operations at the Oregon Liquor Control Commission’s Portland office. On Thursday, the OLCC announced adjustments to the payment process because they’ve been running into some issues with cannabis business owners paying their taxes in person.

Oregon officials estimate that they’ll take in around $43 million in tax revenue from recreational cannabis this year. The tax adult-use sales at dispensaries went into effect on January 4, 2016. More than $10.5 million in tax revenue came in during the first quarter of 2016.

Mon
24
Oct

What would legalized marijuana mean for California?

Max Groso, budtender at P.S.A. Organica in Palm Springs, discusses the concerns and hopes for Proposition 64, or the Adult Use of Marijuana Act on the November ballot. (July 21, 2016) Lauren Hernandez/The Desert Sun

When voters step up to the polls Nov. 8, they'll determine the future of recreational marijuana statewide. There are strong feelings from those on both sides of the aisle, but while some see legalization as a step forward for California, others say it could be the beginning of the end.

Mon
24
Oct

Marijuana Law Conferences Sprout Up

Next month, Greenspoon Marder is holding its “First Annual Cannabis Law and Business Conference.”

With panel discussions on finance, land use and zoning, legalization vs. decriminalization, the firm is hoping to attract 200 attorneys and so-called “Ganjapreneurs” (in practice lingo) to its Nov. 4 conference in Florida — just a few days before voters there look at a ballot initiative to legal marijuana.

Mon
24
Oct

Oregon issues first alert for marijuana with high pesticide level

Marijuana tainted with up to 200 times what is considered safe levels of a pesticide was sold to about 130 customers at a McMinnville dispensary earlier this week, state officials said Friday.

Dried flower marijuana under the names "Dr. Jack" and "Marion Berry" were sold at New Leaf, a medical marijuana dispensary at 3325 NE Riverside Drive, according to a release from the Oregon Health Authority. Both strains tested for high levels of spinosad, which is described as a natural substance made by a soil bacteria that can be toxic to insects. The effects of smoking spinosad are unknown.

Mon
24
Oct

Before Amendment 2, legal cannabis industry already budding in Florida

With his raspy voice, long ponytail and friendly demeanor, George Douthitt is the guy you might get if you called central casting and ordered up a vintage pothead.

True to form, the 63-year-old eagerly accepted a delivery from his weed guy one recent morning, forking over $50 for a small package of marijuana.

This drug deal, however, quickly veered off script. The buy was completely aboveboard — as evidenced by the $3.50 in sales taxes tacked onto his tab.

Mon
24
Oct

Even without marijuana for sale, Anchorage's first retail pot shop opens its doors

Although no retail cannabis has been approved for store shelves in Alaska, Anchorage's first marijuana shop opened its doors on Thursday.

Arctic Herbery is currently only stocked with a variety of pipes, rolling papers and bongs, but customers said even without cannabis for sale, they’re still leaving satisfied. That’s because the owner is giving away “free samples” of product to customers 21 years and older.

Owner Bryant Thorp said because he’s not officially using an operating marijuana license yet, he’s allowed to give away free marijuana.

“When you hand someone a joint or a nug, they kind of get excited about it,” said Thorp.

Mon
24
Oct

It's clear why support for legalizing marijuana is at an all-time high

Support for weed legalization in the US recently hit an all-time high, but looking at the industry, it's been a long time coming.

Sixty-percent of Americans — up from 35% in 2005 — now support legalization, according to a Gallup poll from Wednesday.

Mon
24
Oct

Boston official pushes for minority-owned businesses if marijuana becomes legal

A Boston city councilor wants to make sure minority-owned businesses get a fair shot if retail marijuana sales become legal in Massachusetts.

Councilor Ayanna Pressley has scheduled a hearing for Monday evening at Boston City Hall to discuss ways of providing equitable access to licensing opportunities and jobs in the commercial marijuana industry.

Question 4 on the November ballot would legalize recreational pot in Massachusetts.

It includes a unique provision that would require marijuana regulators to develop policies aimed to help "communities that have previously been disproportionately harmed by marijuana prohibition and enforcement."

Mon
24
Oct

Here's What the Latest Polls Suggest in the 9 States Voting on Marijuana

Elections aside, the marijuana industry has had an incredible run over the past two decades.

Prior to the 1996 approval of a compassionate use medical cannabis law in California, marijuana was illegal in all aspects (medical and recreational), and public support for nationwide legalization stood at just 25% per Gallup. Fast-forward to today and 25 states have legalized medical cannabis, with four states, as well as Washington D.C., legalizing the purchase of recreational marijuana for adults ages 21 and up. It's worth noting that the two most recent states to legalize medical marijuana -- Pennsylvania and Ohio -- did so entirely through the legislative process. Furthermore, public support for nationwide legalization tied an all-time high in Gallup's 2015 poll at 58%.

Mon
24
Oct

Inside big pharma's fight to block recreational marijuana

Marijuana legalization will unleash misery on Arizona, according to a wave of television ads that started rolling out across the state last month. Replete with ominous music, the advertisements feature lawmakers and teachers who paint a bleak future for Arizona’s children if voters approve Proposition 205, a measure that would allow people aged 21 and over to possess an ounce of pot and grow up to six plants for recreational use.

“Colorado schools were promised millions in new revenues” when the state approved recreational pot use, says the voiceover in one ad. Instead, schoolchildren were plagued by “marijuana edibles that look like candy”.

Pages

Subscribe to RSS - Marijuana Business News