Illinois: Pritzker Administration Announces Revenue Figures For First Month Of Adult Use Cannabis

ILLINOIS: The Illinois Department of Revenue announced that adult-use cannabis sales generated $7,332,058 in cannabis tax revenue during the month of January, with an additional $3,147,928.29 generated in retail sales tax revenue. Governor Pritzker’s recently released budget conservatively estimated the state would collect $28 million in cannabis tax revenue during the remainder of the fiscal Read the full article…

Harborside Strikes Back, Wins Big In Tax Court

U.S. Tax Court Declines to Issue Penalties in Harborside 280E Case, Saving Industry Tens of Millions CALIFORNIA: In a historic landmark decision that will save Harborside and the legal cannabis industry millions of dollars, the U.S. Tax Court has ruled that the California dispensary is not liable for accuracy-related 280E penalties. 280E is a tax code provision Read the full article…

New Jerseyans Support Marijuana Legalization, Expungement, Taxation

Large majorities believe legalization will help state’s economy, areas in state with high marijuana arrest rates NEW JERSEY: New Jersey legislators haven’t decided whether to legalize cannabis for personal use, but the latest Rutgers-Eagleton Poll shows more state residents favor than oppose – by a hefty margin of 58 percent to 37 percent – completely Read the full article…

The Clinch On Cannabis: Immature Industries Eventually Grow-Up

By Beau Whitney, Whitney Economics The cannabis industry is still taking shape. Legislative and regulatory policies can have a profound impact on the direction the movement takes. There are many academic sources available, but what differentiates this report from others is that this author is able to combine economic rigor with direct industry experience.  The author Read the full article…

Colorado’s Monthly Marijuana Sales Top $100 million

COLORADO: Marijuana sales blazed past the $100 million mark for the first time in August, the Denver Post reported over the weekend. According to sales data from Colorado’s Department of Revenue released Friday, sales of recreational pot topped $59.2 million for the month, while medical marijuana dispensaries pulled in $41.4 million, for a combined $100.6 million — Read the full article…

Revenue From Colorado Marijuana Tax Expected To Double In 2015

COLORADO: It’s heady times in the Mile High City, and that’s just at the state budget office. Colorado is on track to more than double the state’s marijuana tax revenues this year, showing up the $44 million collected in 2014 with a projected 2015 windfall of $125 million, reports The Guardian. The state hoped to collect $70 million in 2014, Read the full article…

Recreational Marijuana On 2016 Florida Ballot? Petition Needs 683,000 Signatures

FLORIDA: Regulate Florida, a political committee that wants to amend the Florida constitution to legalize and regulate adult use of marijuana for recreational use, has been given the go-ahead by the Department of State, Division of Elections to work on getting its initiative placed on the 2016 elections ballot. This means that Florida voters could potentially Read the full article…

Massachusetts Marijuana Groups Seek Pot Legalization Vote

MASSACHUSETTS: Two marijuana advocacy groups on Wednesday are set to submit proposed ballot initiatives that would allow Massachusetts voters to decide whether to legalize recreational pot smoking in the state. The initiatives could become part of a wave of similar measures put before voters in a half-dozen U.S. states in 2016 as pro-marijuana groups follow Read the full article…

How Is Marijuana Legalization Going? The Price Of Pot Peace Looks Like A Bargain.

In 2012 John Larson, a retired high school math and science teacher, voted against I-502, the initiative that legalized marijuana in Washington. Yet this week Larson was one of the first government-licensed marijuana merchants to open a store in that state: Main Street Marijuana in Vancouver. “If people were dumb enough to vote it in, I’m all for Read the full article…

MJ Research Report: Washington State Rakes In Over $10M In Single Month From Pot Tax

By Joe Armes WASHINGTON: The legal cannabis industry has been rapidly growing in Washington State since the implementation of recreational sales under I502, and along with them so too have the tax revenues due to the state. Washington’s hefty 25% excise tax, which is applied to each stage of the supply chain (, processors and retailers), has alone resulted Read the full article…