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In an announcement dated March 2, 2023, the California Department of Cannabis Control released cannabis enforcement statistics for 2021 and 2022 in an effort to demonstrate its commitment to bringing down the illegal market.The DCC reported: “DCC-led search warrant operations increased from 62 in 2021 to 155 in 2022, a 150 percent increase. DCC also […]
In this two part series, we take a look at New Jersey’s legalization of cannabis. Part one examined the state of the market, licensing, approvals and sales. Part two discusses all things taxes. Click here to read Part One where we examined the state of the market, licensing, approvals and sales. Part Two delves into all […]
Happy Start of 2023! We made it through the crazy start of 2023 that saw many changes including new minimum wages! Remember to post your OSHA300A forms from February 1st through April 30th (links below). We are also highlighting compensation this month. This will be the last month we include the New Laws in 2023 […]
Rhode Island’s Traditional Dislike of Cannabis: Although Rhode Island is the USA’s smallest state, it has traditionally taken an out-sized dislike for cannabis and its users. It first banned cannabis in 1918, and up until recently, had some of the strictest mandatory minimum sentences for large-scale possession, sentencing those with more than 5 kg (11 […]
THE CANNABIS EQUITY TAX CREDIT One of the goals of California Assembly Bill 195, signed into law by Governor Gavin Newsom on June 30, 2022, was to bring tax relief to the cannabis industry, a class of businesses notoriously challenged by heavy taxes. To this end, the Franchise Tax Board is currently offering two tax […]
THE HIGH-ROAD CANNABIS TAX CREDIT On June 30, 2022, Governor Gavin Newsom signed California Assembly Bill 195 into law, a bill specific to the cannabis industry. One of the goals of this bill was to bring tax relief to a class of businesses notoriously challenged by heavy taxes. To this end, the Franchise Tax Board […]
New York: Adult Use Sales Launched On December 29 of last year, New York officially launched adult use sales, but at only one location. The fortunate dispensary was Housing Works Cannabis Company in Manhattan’s East Village, and it’s first sale was made to Chris Alexander, the executive director of the New York Office of Cannabis […]
National: SAFE Banking Act Launched in the U.S. House of Representatives in 2019, the Secure and Fair Enforcement Act proposed to eliminate penalties against banks that provided services to cannabis companies, thereby allowing the marijuana industry to bank safely and with reasonable costs, Raising equity and debt would become much easier as well. The bill […]
Vendor Compensation, Equity Fee Waivers, and More Massive social equity efforts are being made on the East Coast on behalf of cannabis businesses (see our articles in Bloomberg and elsewhere about New York and the Tri-State area:[1]) Now California has beefed up its offerings with vendor compensation being paid to equity-approved businesses. In addition, state […]
