Colorado Sees Average Price of Wholesale Marijuana Rise in Second Half of 2018

Starting Jan. 1, Colorado will reap more tax revenue from wholesale deals involving marijuana intended to be sold to consumers after the average prices of those wholesale products rose in the latter part of 2018.

The Colorado Department of Revenue on Thursday released updated average market rates for marijuana being sold or transferred from retail cultivation centers to recreational pot shops or facilities that make retail products like hash oil and edibles. Those sales and transfers are subject to a 15-percent excise tax. Continue reading “Colorado Sees Average Price of Wholesale Marijuana Rise in Second Half of 2018”

Feds working on new marijuana banking guidance, Treasury Secretary Mnuchin tells Congress

Issuing updated marijuana banking guidance is “at the top of the list” for the U.S. Treasury Department, according to Sec. Steve Mnuchin.

“I can tell you we’re working on it as we speak,” he told a hearing of the House Ways and Means Committee Thursday. Continue reading “Feds working on new marijuana banking guidance, Treasury Secretary Mnuchin tells Congress”

Oregon Steps Up Penalties for Cannabis Sales to Minors

Oregon cannabis retailers caught selling to minors will face harsher penalties under a temporary rule approved by state regulators on Friday. That means heavier fines, longer license suspensions, and even the revocation of individual worker permits.

 

Continue reading “Oregon Steps Up Penalties for Cannabis Sales to Minors”

In Uruguay’s marijuana experiment, the government is your pot dealer

In coming weeks, cannabis-seeking citizens in this small South American nation will be able to walk into a pharmacy and buy government-approved marijuana for the state-mandated price of $1.30 a gram. No questions asked. No doctor’s note required. Continue reading “In Uruguay’s marijuana experiment, the government is your pot dealer”

Cannabis industry organization forms to “be ready” for national legalization

Cannabis is joining the ranks of the financial, advertising, real estate and alcohol industries with the formation of its first self-regulatory organization.

The National Association of Cannabis Businesses (NACB) launched Thursday with a powerhouse leadership team and an ambitious plan: Develop and enforce national standards that will increase compliance and transparency, spur growth, and shape future federal regulations. Continue reading “Cannabis industry organization forms to “be ready” for national legalization”

Battling the racial roadblocks to joining the legalized marijuana trade

Darryl Hill, hailed for integrating college football in his youth half a century ago, was a successful entrepreneur with no criminal record and plenty of capital when he applied for a license to grow marijuana in Maryland — a perfect candidate, or so he thought, to enter a wide-open industry that was supposed to take racial diversity into account. Continue reading “Battling the racial roadblocks to joining the legalized marijuana trade”

Colorado marijuana sales in April 2017 top $125 million

Colorado’s marijuana industry notched its 11th consecutive $100 million month in April.

But the month in which cannabis enthusiasts celebrate the “high holiday” of 4/20 fell short of setting a monthly high for the state.

The state’s pot shops raked in $125.2 million in medical and recreational marijuana sales of flower, edibles and concentrates during April, The Cannabist calculated by extrapolating Colorado marijuana taxes and fees data. Continue reading “Colorado marijuana sales in April 2017 top $125 million”

Washington Cannabis Sales Surge, Could Soon Overtake Liquor

TACOMA, Wash. (AP) — Sales of cannabis products in Washington state have for the first time surpassed $200 million in a quarter.

Residents and visitors bought more marijuana than ever before in the second quarter of 2016, the News Tribune reports, based on an analysis of purchase and tax records from two state agencies. Continue reading “Washington Cannabis Sales Surge, Could Soon Overtake Liquor”