Search Results for: Tax revenue
Oregon county considers marijuana tax on November ballot
Clatsop County voters might have the option in November to institute a tax on retail marijuana sales. Staff estimates the tax, applied to three dispensaries outside city limits, would generate $50,000 in revenue annually.
$1.2 million in marijuana tax money to help repave Denver streets
In 2018, the Mile High City will spend $27 million dollars to repave arterial and collector streets. A chunk of that cash, $1.2 million, is marijuana money.
Nevada state Sen. Tick Segerblom: More marijuana tax funds for schools
The state projected the tax would generate $13.6 million in the first seven months of legal recreational marijuana sales, which started last July. Actual numbers have been nearly $23 million.
New Jersey marijuana legalization could rake in $60 million in taxes
Gov. Phil Murphy looked to legal-marijuana states to predict possible marijuana tax revenue.
California could cut marijuana taxes to lure consumers away from black market
Growers and sellers in the nation’s largest legal marketplace have been complaining that taxes that in some cases can near 50 percent are too high.
New Colorado bill corrects marijuana tax funding error that stiffed RTD, SCFD
In raising the retail marijuana tax in July, general assembly stiffed the Regional Transportation District and the Science and Cultural Facilities District.
Alaska marijuana tax collections hit new high in January
The state says it has hauled in roughly $7.4 million in marijuana taxes since collections began in October 2016.
California looks deeper into a taxpayer-backed bank for cannabis industry
California officials are taking a detailed look at creating a taxpayer-backed bank to handle the billions of dollars generated by the legal cannabis industry.
High taxes spark sticker shock for cannabis customers in California
Many California shoppers have been surprised by the tax rates that have taken effect since Jan. 1, when recreational cannabis sales became legal
Nebraska bill would eliminate state’s tax on illegal drugs
A state lawmaker says Nebraska’s tax on illegal drugs may violate constitutional rights and that virtually no one pays it until they’re caught.
Montana reminds medical marijuana providers to pay taxes
Montana reminded medical marijuana providers to pay taxes after less than half of those that paid taxes last fall paid again at the quarterly deadline.
Colorado using marijuana taxes to save programs funded by Big Tobacco settlement
For more than two decades Colorado has received hundreds of millions of dollars from its share of settlements with tobacco companies.
Denver marijuana regulators’ oversight improved, but still lacking tax transparency, auditor says
The Denver Office of Marijuana Policy has implemented some suggestions made last year by the city’s auditor, who called for more transparency on tax spending.
Colorado marijuana dispensary challenges IRS in U.S. Tax Court
The owners of a marijuana dispensary in Palisade, Colo., claim their income was unjustly taxed twice because of the Internal Revenue Service’s application of Section 280E.
Outgoing NJ Gov. Christie calls marijuana taxes “blood money”
Christie, who adamantly opposes marijuana legalization, said “It’s blood money. It’s disgraceful and it’s disgusting,” on his regular radio call-in show last week.
Sen. Cory Gardner to co-sponsor federal bill to let canna-businesses take tax deductions
“Our current tax code puts thousands of legal marijuana businesses throughout Colorado at a disadvantage by treating them differently than other businesses,” said Gardner
$10 million in Colorado cannabis taxes targeted to address teacher shortage
Gov. John Hickenlooper earmarked $10 million in marijuana sales tax money in his proposed 2018-19 budget to address problems of hiring and retaining teachers in Colorado, where as many as 3,000 teaching jobs are unfilled.
Could taxes as high as 45% on cannabis bolster black market in California?
High taxes on legal marijuana in California could have the potential to turn many consumers away from the state’s cannabis shops and toward the black market, according to a new report.
Montana takes in $300K in medical marijuana taxes in 3 months
Montana medical marijuana providers paid about $300,000 in taxes for the three months ending in September.
Why Colorado’s special legislative session on pot-tax error left everyone empty-handed
Colorado lawmakers’ abbreviated special session ended Tuesday in political finger-pointing without resolving a mistake by lawmakers that is costing RTD and other entities across the state millions of dollars.
Colorado special legislative session fails to fix pot-tax error
This week’s special legislative session effectively came to a screeching halt Tuesday afternoon, as Republican state senators rejected the second of two bills brought forth by Democrats to resolve a marijuana tax error costing RTD and other entities across the state hundreds of thousands of dollars in monthly revenue.
Colorado lawmakers’ special session over pot-tax error could grind to a halt
A rare special legislative session that began Monday could end as soon as Tuesday, with Republicans and Democrats at an impasse over a marijuana tax error costing RTD and other entities hundreds of thousands of dollars in revenue each month.
Tribes urged to consider boosting revenue via cannabis industry
Tribal leaders from California and Washington state last week discussed the potential opening of legal marijuana businesses on tribal lands.
Where will Maine marijuana tax dollars go?
A Maine legislative panel agreed how to distribute tax revenue from recreational marijuana sales, but banned drive-thru sales, internet sales and home delivery.
