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Montana Collects $1.8 Million in Medical Cannabis Tax Revenue in First Year

By | August 31st, 2018|Montana, News, taxes|

The state of Montana collected $1.8 million in the first year of taxing the medical marijuana industry, according to government officials. The Montana Department of Revenue also reported that the state’s medicinal cannabis businesses had generated approximately $45 million in sales during the first year of taxation. State revenue director Gene Walborn told local media [...]

Tax Revenue from California’s Legal Marijuana Falls Short of Estimates

By | August 16th, 2018|California, featured, News, taxes|

Tax revenue from California’s legal marijuana market fell far short of estimates in the second quarter, state officials have announced. The California Department of Tax and Fee Administration released figures for the period April through June 2018 on Wednesday. California’s excise tax on cannabis generated nearly $43.5 million in revenue during that time. The cultivation tax generated [...]

Nevada’s Marijuana Tax Revenue Expected to Reach $70 Million This Year

By | August 6th, 2018|featured, Nevada, News, taxes|

When Nevada voters legalized cannabis for adult use in 2016, they did so not just with an eye toward the social and civic gains of legal weed, but also toward generating revenue through state taxes. Prior to the legalization vote, advocates made the case that a regulated cannabis industry would generate millions of dollars in [...]

Alaska Raked in $11 Million in Marijuana Tax Revenue This Year

By | August 2nd, 2018|Alaska, News, taxes|

The State of Alaska collected more than $11 million dollars in marijuana tax revenues from cultivators in the 2018 fiscal year, officials said Wednesday. The amount exceeded predictions from the Alaska Department of Revenue by nearly $2 million. The numbers reported Wednesday are for the fiscal year that ended June 30. The figures only include taxes [...]

PA’s Auditor General Predicts Legal Pot Would Bring In Over $500 Million a Year

By | July 20th, 2018|News, Pennsylvania, taxes|

On Thursday, Pennsylvania’s Auditor General announced the release of a report titled “Regulating & Taxing Marijuana” that lays out the advantages of establishing a legal, regulated adult-use cannabis market. The attention-grabbing special report provides data detailing the potential revenue and financial benefits legal weed could bring to Pennsylvania. PA’s Auditor General Eugene DePasquale Is Seeing [...]

Washington City’s First Weed Dispensary Forced To Close

By | February 8th, 2018|Business, News, Tacoma, taxes, Washington State|

The post Washington City’s First Weed Dispensary Forced To Close appeared first on High Times. In Tacoma, Washington, a weed dispensary forced to close for failing to pay back taxes has historical meaning for the local cannabis scene. Rainier on Pine was Tacoma’s first fully operational legal weed store. But the dispensary lost its license [...]

Parts Of Colorado Approve New Marijuana Taxes

By | November 8th, 2017|Business, cannabusiness, Colorado, election, Laws, NEEDS PHOTOS, News, taxes|

The post Parts Of Colorado Approve New Marijuana Taxes appeared first on High Times. Voters in multiple parts of Colorado approved new marijuana taxes that will hike prices for consumers in those areas. Eagle County, Colorado is suffering from mental health and substance abuse issues. They’re hoping the new marijuana taxes that were approved will [...]

California Wants To Use Armored Cars To Move Pot Tax Money

By | November 8th, 2017|Business, California, cannabusiness, money, News, taxes|

The post California Wants To Use Armored Cars To Move Pot Tax Money appeared first on High Times. With recreational weed set to become legal in California on January 1, the state is going through a transitional period in order to better equip itself for its upcoming cannabis-fueled era. There are several roadblocks, however, that [...]

Pot Growers May Have To Pay Taxes On Crops Destroyed By Fires, Raids

By | November 7th, 2017|Business, California, cannabusiness, cultivation, environment, Ganjapreneurs, News, taxes|

The post Pot Growers May Have To Pay Taxes On Crops Destroyed By Fires, Raids appeared first on High Times. While California cannabis businesses gear up for full legalization in 2018, a crucial battle over how much taxes those businesses should pay is quietly raging behind the scenes. And depending on how it all plays [...]

Report: California’s Marijuana Taxes Are Too High

By | November 3rd, 2017|Business, California, cannabusiness, money, News, taxes|

The post Report: California’s Marijuana Taxes Are Too High appeared first on High Times. The first shock hits not long after new arrivals leave the airport.  This is when most visitors to California pass their first gas station—and discover that a gallon of gas costs, on average, 60 cents more than it does back at [...]