As the American cannabis industry increases drastically in both size and total retail sales, the inevitability of federal legalization seems to be almost set in stone with every extra billion dollars that the industry produces. Although a few stubborn career politicians stand in the way...
The biggest news in the Oregon cannabis market so far in 2023 is that of Shamia Fagan receiving $10,000 per month from a company owned by Rosa Cazeras and Aaron Mitchell, the owners/operators of La Mota, arguably the second largest vertically-integrated cannabis company in Oregon,...
As the current state of the American economy is one that many of our most esteemed economists would consider to be a “recession”, industries across the United States are being affected. One such industry being drastically impacted by the sunken state of the economy is...
Every year, the IRS collects billions of dollars from cannabis business owners. If cannabis were federally legal and taxed, then federal tax revenue from cannabis commerce could rise to $18 billion a year. This significant speculative increase in federal tax revenue would be in spite...
The allure of the cannabis business has cast its net long and wide over the entire nation. Some states are already seeing the revenue generated from marijuana sales reach into the billions. Still, banking within the cannabis industry remains a prickly issue. Despite a glimmer...
Those who are thinking about entering the cannabis industry often have questions about how California taxes the production, storage and sale of the popular drug. Fortunately, California Department of Tax and Fee Administration (CDTFA) provides an in-depth guide on what is eligible to be taxed...
This article first appeared in Cannabis Now Taxation’s War on Cannabis A recent U.S. 9th Circuit Court of Appeals case could have a significant impact on the federal taxation of cannabis businesses, in particular IRC §280E issues. By Kenneth Ford Published on February 5, 2021 Harborside, a California cannabis...
With recreational cannabis becoming legal in Oregon in 2016, many analysts predicted the tax revenue generated from its sale to be substantial. They were right. Oregon recently posted its 2019 cannabis tax revenue and the numbers have hit record highs. Each year since cannabis has become...
While many areas of Washington State are seeing a surge in marijuana sales, one county has had their decision to ban the sale of the drug upheld by the Washington State Court of Appeals. The three-member appellate court panel ruled in April 2020 that Yakima...