Cannabis Taxes

2024 Cannabis Taxes: States Weigh In On New Approaches To Revenue
EXCLUSIVE: Weed Companies Will Be Treated Like Normal Businesses Once This Tax Provision Goes Away, Experts Say
Out Of Pocket: Which U.S. Cannabis Company Owes The Most Money In 2024?
EXCLUSIVE: Weed Companies Will Be Treated Like Normal Businesses Once This Tax Provision Goes Away, Experts Say
Out Of Pocket: Which U.S. Cannabis Company Owes The Most Money In 2024?
European Cannabis Companies Race To The Nasdaq: $1B In Tax Break On The Horizon
Hold My Beer: Breweries Offer THC On Tap In Minnesota, What Investors Need To Know

Cannabis Taxes Recent News

A Look at Illinois' Cannabis Sales and Tax Allocation: Where Are The Greens Going?
The fiscal year 2024 has already seen the state amassing nearly $180 million in cannabis-related taxes. Where is the money going?
No Cannabis Tax Relief In Canada, Tilray CEO Says This 'Hinders Our Ability To Compete With The Illicit Market'
Canadian Cannabis Companies Could See Valuations Soar By Up To 300% With Tax Reform, New Report Shows
According to a recent official report, the Canadian government is considering revising the excise tax framework established in 2018 for the cannabis industry.
IRS Clarifies Cash Reporting For Marijuana Businesses, Reveals No Automatic 'Suspicious Activity'
This important conversation around cannabis taxation without much representation will be in the air and discussed on panels at the upcoming Benzinga Cannabis Capital Conference in Florida this April 16-17, 2024.
Just One Weed Dispensary In New York Generated $5M In Tax Revenue In Its First Year And Created 120 New Jobs
They promised that weed would generate a bunch of tax revenue. And they held up their end of the bargain.
US Losing $8.5B In Cannabis Taxes Due To Lack Of Federal Legalization, New Taxation 'Blueprint'
When it comes to taxation of cannabis products, things are rather complex. Marijuana is still considered a Schedule 1 substance under federal law, and just 24 states have their own legal recreational markets. The result is a wide variety of tax regulations. What would happen with taxes in case of federal legalization?
California Cannabis Taxes Hit $270M In Q3: Funding Used For Research, Social Initiatives, Schools & More
The California Department of Tax and Fee Administration (CDTFA) reported that cannabis tax revenue for the third quarter of 2023 hit $269.3 million. This includes California's cannabis excise tax, which generated $156.9 million, and $112.4 million in sales tax revenue from cannabis businesses.
Military Veterans Who Sued New York Cannabis Regulators Reach Settlement & Tax Relief For NYC Pot Shops
Military veterans who sued the Office Of Cannabis Management (OCM) in August, which provoked a temporary injunction on the issuance of new social equity retail licenses have finally reached a settlement.
Cannabis Regulatory Update: NY Sen. Fights For Distressed Marijuana Farmers & More In MI, SD, OK
CRS’ Report Warns High Federal Cannabis Taxes Could Hinder Industry’s Economic Potential
Aloha To Cannabis Air Delivery, Hawaii Takes Off, Minnesota's $1.5M Tax Bonanza And More
Minnesota Earns $1.5 Million in Revenue From Hemp-Derived Edibles  Minnesota generated $1.5 million in revenue within the first two months of implementing a 10% gross receipts tax on hemp-derived THC edibles sales.
Rhode Island, Michigan & Connecticut: A State-By-State Breakdown Of Cannabis Sales And Tax Revenues
In this week's cannabis sales and taxes update, Rhode Island, Michigan and Connecticut take center stage as the legal cannabis industry undergoes significant transformations. As of the latest available data, these states have witnessed noteworthy developments.
Cannabis Cash Flow: CT, MI, MO & CO Top $15B In Legal Weed Sales
In September 2023, cannabis sales figures from various U.S. states offered a compelling snapshot of the evolving landscape of legal cannabis markets.
Michigan Cannabis Shop Owner Faces 9 Years In Federal Prison For Tax Evasion
Ryan Richmond, former owner of Relief Choices, LLC, a Michigan marijuana dispensary, has been found guilty of tax evasion and obstructing the IRS.
Weed Stocks Skyrocket, Could There Be More Upside? Analyst Draws Scenarios
The Department of Health and Human Services (HHS) suggested the DEA reclassify cannabis as a Schedule III controlled substance under federal law. Assistant Secretary for Health Rachel Levine's
Michigan's Cannabis Industry Seeks Agricultural Tax Benefits Following Cass County Ruling
A recent ruling in Cass County has sparked debates in Michigan's cannabis industry over its eligibility for agricultural tax benefits. Agricultural Exemptions Amid Education Funding The state's education funding relies on diverse sources including sales, tobacco taxes and lotteries.
Cannabis Tax And Sales Update: Insights From Maryland, Michigan, Illinois And Colorado
Maryland's Allure
Maine Gov's Bill Allows Cannabis Operators To Declare Deductions, Otherwise Prohibited By IRS Code 280E
Governor Janet Mills (D) signed cannabis-related legislation last week enabling licensed operators to take state tax deductions.
This Tax Break Could Reshape The Cannabis Landscape With A $700M Boost
Section 280e of the Internal Revenue Code has emerged as an unexpected catalyst, potentially injecting a staggering $700 million boost into cash flow for major cannabis companies.
Why Do Cannabis Companies Pay So Much Tax? Blame A Drug Dealer From The 70's
This is a story from Jeremy Berke's "Cultivated" newsletter. Subscribe now so you don't miss the next one. Cannabis companies pay a heavy tax burden. If you run one, or are employed by one, you already know this.
Tax Debt Crisis: Struggling Cannabis Producers In Canada Pushed To Breaking Point
Canada's licensed cannabis producers are facing a dire financial crisis as their unpaid federal excise tax skyrockets. In the most recent fiscal year, the outstanding tax debt owed by these struggling companies has more than tripled, reaching an alarming CAD 192.7 million ($141.2 million).
Cannabis Tax Boom: States Collect A Whopping $15.1 Billion In Revenue Since Weed Legalization
In a stunning display of the financial potential of legal cannabis, states across the U.S.
From Dogs To Pesticides: Cannabis Legalization Causing Shake-Ups In Law Enforcement And Industry
Washington Cracks Down On Cannabis Businesses Over Pesticide Use
Marijuana In NJ: Supreme Court Rules On Diversionary Programs, GOP Lawmaker Goes Against The Grain & More
A new ruling from the New Jersey Supreme Court sheds light on marijuana laws as they relate to diversionary programs. It seems that people who avoided conviction for minor drug offenses via a diversionary program for first-time offenders before state lawmakers decriminalized cannabis in 2021 are still allowed to enter another diversionary program for new offenses

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga

© 2024 Benzinga | All Rights Reserved