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On June 13, 2022[1], California’s Senate and Assembly passed a massive, $300 billion budget, just two days before the deadline which would have forced lawmakers to forgo their pay. While Governor Gavin Newsom has until June 30 to sign or veto it, and some issues surrounding the spending the state’s $49 billion surplus still have […]
You can find our article, An Update on Missouri Legalization & Taxes, in the latest publication of Cannabis Industry Journal here: https://cannabisindustryjournal.com/news_article/an-update-on-missouri-legalization-taxes/ Reprinted with the permission of Cannabis Industry Journal ————————————————– Some states, like California, Colorado and Washington, have welcomed cannabis with open arms while others have taken a while to come […]
The CDTFA has announced they will reduce cannabis excise taxes from the current rate of 80% down to 75%, effective July 1, 2022.[1] This rate impacts the markup between the wholesale cost and retail selling price of cannabis products. The 80% markup has stood unchanged since January 1, 2020.This rate change will affect the amount […]
The cannabis industry in the U.S. is growing rapidly. As of February 2022, 37 states allow the medical use of cannabis products, and 18 have enacted measures to regulate cannabis for non-medical use.The growing positive perception of cannabis stems, in part, from significant research aimed at producing better quality plants, uncovering new therapeutic properties, and […]
The state senator from Humboldt County, Senate Majority Leader Mike McGuire (D), has introduced a bill that would eliminate California’s cannabis cultivation tax.[1] The current tax rate is $10.08 per dry-weight ounce for flower and $3 per dry-weight ounce for leaves.[2]Senate Bill 1074 would discontinue, beginning on July 1, 2022, the imposition of the cultivation […]
Assembly Bill 2691 has been introduced that would allow small cultivators to sell their cannabis at events. “This license will allow so many growers who cultivate cannabis on one acre or less to really showcase their products at these special cannabis events,” says bill sponsor Assemblyman Jim Wood (D-Humboldt County). “The Emerald Triangle is located […]
We look forward to seeing you at the Hall of Flowers in Palm Springs. Let us know if you’re around to meet up! Hall of Flowers is a licensed, industry-only, highly curated B2B show designed to facilitate commerce between our vast network of premium licensed cannabis brands and retailers. Our product categories span across flower, concentrates, […]
Happy 420! You can find our article, New York’s Cannabis Social Experiment and How You Can Participate, in the latest publication of Bloomberg Tax here: https://news.bloombergtax.com/tax-insights-and-commentary/new-yorks-cannabis-social-experiment-and-how-you-can-participate Reprinted with the permission of Bloomberg Tax This is part of a two-day series by Bloomberg Tax Insights looking at the tax challenges facing […]
By Abraham Finberg, CPARachel Wright, CPA MSTAB FinWright LLP and Jim Marty, CPAFounder of Bridge West CPAs and Advisors to the Cannabis Industry ———————————— Montana voters legalized cannabis for medical use in 2016 under the Montana State Initiative I-182[1]. Somewhat similar to states such as California, Initiative I-148, passed in 2004[2], allowed for patient use […]
You can find our article, Sooner to Profitability – Oklahoma’s tax structure makes it friendlier to cannabis businesses than California, on page 7 of the latest publication of Cannabis and Oklahoma here: https://indd.adobe.com/view/4f0d5275-0328-46e3-b714-df5d72ca04e4 Reprinted with the permission of Marijuana Venture In 1889, the federal government opened up the Oklahoma District’s Unassigned […]
