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Featured Articles
Military Veterans Would Be ‘Encouraged’ To Discuss Medical Marijuana Therapy With VA Doctors Under New Congressional Bill
Military veterans would be “encouraged” to discuss medical marijuana treatment without the fear of losing federal benefits under a new bill being sponsored by Rep. Seth Moulton (D-MA). The main thrust of the legislation is to codify existing policies that allow VA...
Illinois House Approves Workplace Protections For Cannabis Consumers
Adults in Illinois who use legal cannabis during their free time would be protected from losing their jobs under a bill approved Thursday by the state’s House of Representatives. The measure, which now proceeds to the Senate, would prohibit most employers from firing...
Nearly 70 Percent of Americans Want Congress to Allow Licensed Cannabis Businesses Access to Banking Services
A supermajority of Americans supports ending federal restrictions that discourage banks and other financial institutions from servicing licensed cannabis businesses, according to national survey data released today by the American Bankers Association. The polling,...
Top Wisconsin GOPer says state ‘heading’ toward legalization
Wisconsin is moving in the right direction with legislation, but the lawmaker still anticipates a tough road for recreational pot. A top Republican lawmaker in Wisconsin indicated on Monday that cannabis legalization is likely inevitable in the Badger State. Jim...
Missouri House takes up marijuana legalization in push to sink ballot question
Cannabis activists lined up Tuesday to urge Missouri lawmakers to move quickly to fully legalize marijuana and derail a competing ballot initiative backed by existing medical marijuana businesses. The Cannabis Freedom Act, sponsored by Rep. Ron Hicks, R-Defiance,...
Cannabis Companies in Germany Attract Investments as Nation Gears Up for Recreational Sales
Cannabis startups in Germany are experiencing an uptake in investment funding as they look to capitalize on the potential of the legalization of recreational marijuana. This comes as the sector of medical marijuana, which is legal, is experiencing tremendous growth....
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Recreational marijuana could be on the horizon in Florida
If a patient walks into a medical marijuana dispensary today in Florida, the variety that meets them can be a bit intimidating. There are different strains of marijuana that have different effects. There are different delivery methods ranging from dried plant material to concentrates of tetrahydrocannabinol to food products infused with marijuana. A New York-based company that operates across 18 different jurisdictions in America and also in the European Union aims to make that process less daunting with the introduction of technology at its dispensaries. One of Columbia Care’s dispensaries is located in Sarasota at 6979 S. Tamiami Trail. On Wednesday that location rebranded to Cannbist and integrated the technology at its Florida locations.
Cannabis Business Executive – Cannabis and Marijuana industry news, 12/09/2021 08:36:00
IRS Official Gives Marijuana Businesses Advice On Tax Compliance
The Internal Revenue Service (IRS) can’t do anything on its own to resolve the unique financial challenges that marijuana businesses face as a result of federal prohibition—but the agency wants to make clear that it’s here to support cannabis firms with tax compliance nonetheless. De Lon Harris, commissioner of examination at the IRS Small Business/Self Employed (SB/SE) Division, spoke about tax-related issues in state-legal marijuana markets in a webinar published on Wednesday by PBC Conference. He said that while cannabis remains federally illegal, businesses that deal in controlled substances must still file federal taxes, and IRS is here to help. “It’s really our mission at the IRS—not just with marijuana and cannabis industries, but with all taxpayers—to promote voluntary compliance,” Harris said. “When most people think of the IRS, they think of examinations or audits and they think that’s the only way that we interact or try to promote voluntary compliance with taxpayers, but we do our fair share of outreach and education as well.” To be sure, Harris also provided tips for marijuana businesses on tax compliance in a blog post published in September.
Kyle Jaeger, Marijuana Moment, 12/08/2021 10:31:00
Congressional Lawmakers Want ‘Urgent’ Update From Biden On Marijuana Pardons As Holidays Approach
It’s been almost ten months since a coalition of 37 congressional lawmakers sent a letter to President Joe Biden, urging him to use executive authority to issue mass pardons for people with federal marijuana convictions on their records. Lawmakers are growing impatient, and now they’ve sent a follow-up letter to “urgently request” an update as the holiday season approaches. Reps. Earl Blumenauer (D-OR), Barbara Lee (D-CA), and Jamaal Bowman (D-NY) wrote to the president last week that many Americans “remain behind bars due to racially discriminatory cannabis policies and continue to accrue criminal fees.” “To begin rectifying the damage done by these discriminatorily implemented policies and reunite families before the holidays, we reiterate our ask that you use your executive authority to pardon all individuals convicted of nonviolent cannabis offenses, whether formerly or currently incarcerated,” they said. “We further write to specify that all federal criminal fines and fees be canceled for all nonviolent cannabis offenses.” This has become a familiar request over the course of Biden’s first year in office. Advocates, lawmakers, celebrities, and others have repeatedly pressed the president to make good on his campaign pledge and provide relief to those with cannabis convictions. Yet so far, the only pardons to take place under the Biden administration have benefited turkeys at a ceremonial Thanksgiving event. “Many Americans do not believe we should take a punitive approach to marijuana and have already benefited significantly from efforts to loosen or eliminate cannabis regulations at the local or state level,” the congressional trio wrote, noting that polls show strong public support for marijuana reform.
Kyle Jaeger, Marijuana Moment, 12/07/2021 17:38:00
Anti-Marijuana Indiana Governor Backs Proposal To Set Up Legalization Rules If Federal Prohibition Ends
The governor of Indiana isn’t personally in support of marijuana legalization, but he says he’s on board with having lawmakers pass a bill to set up the regulatory infrastructure for a legal cannabis market. That said, he’d only be open to enacting the reform after federal prohibition ends. Gov. Eric Holcomb (R) was asked about cannabis policy during an end-of-the-year interview with Indy Politics that was released on Tuesday. Specifically, he was asked whether he’d “object to Indiana lawmakers at least starting the process” of setting up a licensing structure for legal cannabis businesses so the state can “flip the switch” when federal law changes. “I don’t mind that at all,” the governor replied. It would be a unique legislative process that no other legal marijuana state has pursued, with lawmakers hashing out rules on issues like licensing and taxes without a clear timeline for implementation that hinges on possible future action by Congress. The GOP governor’s support for the proposal was welcomed by the Indiana Democratic party, which recently mounted a push for marijuana legalization and called on state lawmakers to enact the reform.
Kyle Jaeger, Marijuana Moment, 12/08/2021 12:25:00
South Dakota Voters Disapprove Of Governor’s Handling Of Marijuana Legalization, Poll Finds
South Dakota voters are giving Gov. Kristi Noem (R) good marks on her job performance—except when it comes to marijuana policy and the way in which her administration has sought to undermine the will of the electorate which approved a legalization ballot measure last year. A statewide poll released on Tuesday showed that an average of 61 percent of voters strongly or somewhat approve of Noem’s job performance across five categories in her first term. But just 39 percent said they approve of her handling of marijuana legalization, with 51 percent disapproving. One-third of respondents said that they strongly disapprove of the governor when it comes to cannabis, while 18 percent said they somewhat disapprove. Twenty-eight percent of Republicans, 38 percent of Democrats and 39 percent of independents said they strongly disapproved of Noem’s handling of the issue. Another 16 percent of GOP voters, 23 percent of Democrats, and 17 percent of independents somewhat disapprove of the governor’s actions on cannabis. While Noem—who is up for reelection next year—has seemingly recognized the popularity of marijuana reform in recent months and has attempted to tie herself to the rollout of a voter-approved medical cannabis program, it appears that voters haven’t forgotten how she adamantly opposed a separate adult-use legalization initiative that residents also passed last November. In fact, it was a lawsuit funded by her administration that led to a court ruling voiding the recreational marijuana law—a decision upheld by the state Supreme Court last month when justices affirmed that the measure is unconstitutional because it violated a single-subject rule for ballot initiatives.
Kyle Jaeger, Marijuana Moment, 12/08/2021 09:02:00
Illinois’ weed tax windfall tops $560 million. Here’s where the money goes.
The state’s collections since early 2020 now outpace that raised from booze sales. The money has been used on everything from buying an opioid reversal drug to funding a Girl Scouts program to fight human trafficking. First-time recreational cannabis buyers often feel the sticker shock. With hefty taxes, an eighth of an ounce of fresh cannabis flower typically costs around $80 — far more than the price of black-market weed. But sales have continued to boom despite the sky-high taxes and prices, totaling over $1.9 billion since the drug was fully legalized last January. As a result, total tax collections on pot sales have now jumped to nearly $563 million. And since February, pot sales have brought in a whopping $100 million more in taxes than booze. Nearly a quarter-billion dollars has been raised on pot sales through November mainly via the state’s 6.25% sales tax and other local taxes, according to Gov. J.B. Pritzker’s office. Pritzker spokeswoman Charity Greene couldn’t provide a breakdown of those revenues. However, the bulk of the state’s weed windfall, $319 million, comes from an additional excise tax of up to 25% per purchase, depending on the product.
Cannabis Business Executive – Cannabis and Marijuana industry news, 12/08/2021 09:50:00
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Older Posts
France Enters The Medical Cannabis Industry
France tiptoes into the medical cannabis industry, but legalization needs to be implemented. The French government issued a decree last month that authorizes the cultivation of medical cannabis and the development of its industry. Although the decree entered into...
Oklahoma House Unveils Plan to Combat Illicit Cannabis
The “wild west” of medical cannabis might not be so wild should a group of seven Oklahoma House Republicans find a path to passing a legislative package aimed at cleaning up the state’s program. Headlined by Majority Floor Leader Jon Echols and Rep. TJ Marti, who...
Key GOP Kansas Lawmaker Files Medical Marijuana Legalization Bill In Senate
Medical marijuana legalization is being revived in the Kansas legislature, with a senator introducing a new reform bill on Monday after separate House-passed legislation stalled in the Senate earlier this year. Sen. Robert Olson (R) is sponsoring the new Medical...
Wyoming Marijuana Decriminalization Bill Won’t Get A Vote This Session, Sponsor Says
A proposal to decriminalize possession of small amounts of marijuana won’t come up for a vote this legislative session, according to the bill’s sponsor. The legislation was initially filed last month, Marijuana Moment reported. But state Rep. Mark Baker,...
Israel Set To Decriminalize Weed As More Marijuana Businesses Join The Emerging Market
Israel has long dominated the cannabis industry in terms of breakthrough research and an emerging marketplace. It seems that Israel is taking steps toward the legalization of recreational cannabis, with the government considering fully decriminalizing adult use....
Costa Rica Legalizes Medical Cannabis, Recreational Weed Still Prohibited
Costa Rica legalized medicinal marijuana this week after President Carlos Alvarado signed a law passed a day earlier by congress. Under the new law, hemp cultivation and industrial production are also legalized. However, recreational marijuana use continues...
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