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Reprinted with the permission of Cannabis Industry Journal. The contentious bill, nicknamed “The Cannabis Credit Protection Act,” would require licensees to pay for goods sold no later than 15 days after the invoice is due. Supporters say it will help prevent a ballooning debt bubble in the industry and opponents say it is ripe for abuse. Cannabis […]
Should states taxes for cannabis be levied on the amount of THC in the product? New York’s cannabis tax law has many stakeholders in the market condemning this and arguing for a flat rate instead.
Reprinted with the permission of Cannabis Industry Journal A little over a year ago, we at AB FinWright took a look at the newly-opened adult-use cannabis market in Montana and posed the question: Is Cannabis the Next Gold Rush for Montana? Now, with our 20-20 hindsight, we can see that cannabis sales have taken off […]
Reprinted with the permission of Cannabis Industry Journal. On January 10, 2023, Connecticut joined those states in our union that have opened their doors to adult use cannabis sales. Seven dispensaries stepped through those doors and by January 31, Connecticut had recorded $5.1 million in adult use sales, plus an additional $8.2 million in medical […]
California’s Department of Cannabis Control signals that it would like to open up new markets for the state’s struggling cultivators. On January 27 this year, Matthew Lee, General Counsel for the Department of Cannabis Control, sent a letter to Senior Assistant Attorney General Mollie Lee requesting an opinion on whether “medicinal or adult-use commercial cannabis […]
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 […]
In this two-part series, we take a look at New Jersey’s legalization of cannabis. Part one examines the state of the market, licensing, approvals, and sales. Part two will delve into all things taxes. On the surface, New Jersey’s new adult use cannabis program is similar to the program of its larger neighbor across the […]
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 […]
