tax

Revenue from tax on legal marijuana in Canada should go in part towards public education to teach young people about the risks of drugs, says Liberal MP Bill Blair. "Revenue generated from this should be reinvested in research, in prevention, in public education, in treatment and...

You'll have to pardon the apropos pun, but the marijuana industry is truly budding. Marijuana Business Daily's newest annual report, "Marijuana Business Factbook 2017," predicts annual legal weed growth in the U.S. of 30% in 2017, another 45% in 2018, and an aggregate of 300% between 2016 and...

Much has been made about the change in attitude toward marijuana legalization across the United States over the past decade. Surveys now find a majority of Americans favor legalizing the once-demonized plant. However, it doesn't take a cynic to see there is another motivator behind legalizing...

Mayor Tory says that municipalities, Toronto included, should “absolutely” receive a portion of the revenue collected through a tax on the legal sale of marijuana. Tory made the comment to reporters on Friday afternoon in the wake of the federal government releasing its proposed tax framework...

The federal government's proposed plan to impose an excise tax on medical marijuana as well as recreational cannabis has left patient advocate groups and Canadian licensed cannabis producers fuming. Canadians for Fair Access to Medical Marijuana (CFAMM) and the Arthritis Society said in a...

If New Jersey follows through on plans to legalize recreational marijuana, analysts believe the Garden State could grow into a $1 billion market. Democrat Phil Murphy, who was elected Tuesday as New Jersey’s next governor, vowed on the campaign to legalize marijuana and use a potential $300...

The federal government's plan to legalize marijuana has already generated a spat with the provinces over how potentially lucrative tax revenue will be divided. Now a new player has entered the fray: Canada's cities are demanding they be given a share of the revenue pie to help cover costs...

Canadian marijuana stocks surged Friday after Prime Minister Justin Trudeau's government proposed a tax of one dollar a gram of legalized recreational marijuana. The government said Friday the tax shouldn't exceed C$1 (79 U.S. cents) a gram or 10 percent of the producer's price, whichever is...

Individuals planning to sell cannabis or cannabis products beginning Jan. 1, 2018, must register with the California Department of Tax and Fee Administration (CDTFA) for a seller's permit. Cannabis cultivators, processors, manufacturers, retailers, microbusinesses and distributors who make...

Palm Springs voters overwhelmingly approved a new tax on recreational marijuana in advance of legal sales starting in January. Early results from voting held Tuesday showed a strong majority supported the expanded pot tax, known as Measure E. The city already taxes medical marijuana...

Voters legalized adult marijuana use last year, but until more Oakland businesses obtain city permits, it's unclear how many cannabis entrepreneurs will able to operate under new laws that take effect on January 1. City Councilmember At-large Rebecca Kaplan is urging the city to move forward...

The state of Colorado raised $87 million dollars last year through the taxation of recreational marijuana. After a call from a concerned viewer, who was wondering where that money goes and how it is distributed to schools, News Channel Five decided to dive head first into the confusing world of...

Cannabis legislation is working its way in many states, and some – including California – have made it legal to use, possess and share cannabis. Tax professionals need to know how recent legislation on the drug can affect a taxpayer's return, such as for growers on how they can make use of...

Buying weed in California is about to get less risky and much more expensive. A patchwork of new policies, including special taxes, will roll out in the state before sales of recreational marijuana begin at the start of 2018. California will include a 15% levy on all cannabis sales in the...

Off-year election days are typically sleepy affairs, and most Bay Area jurisdictions aren’t going to the polls Tuesday. But in Pacifica, voters will be making decisions on an issue that is causing turbulence around the region. On the coastal city’s ballot: marijuana taxation, a big concern for...

California’s legal marijuana marketplace is coming with a kaleidoscope of new taxes and fees that could influence where it’s grown, how pot cookies and other munchies are produced and the price tag on just about everything. Be ready for sticker shock. On a retail level, it costs about $35 to...

Tax collections top $3.7 million since sales began Alaska is continuing to make more money from marijuana, according to new figures from the Alaska Department of Revenue. The state collected $723,757 in taxes from marijuana farms in September, according to excise tax director Kelly...

Since Colorado legalized recreational marijuana in 2012, seven other states and the District of Columbia have followed suit. Next year, California, Maine, and Massachusetts will begin sales, potentially tripling the size of the legal pot market. By the end of 2018, 20 percent of Americans will...

Buying legal marijuana in California could be pricey enough to keep the black market healthy. Between customers, retailers and growers, taxes on cannabis may reach as high as 45% in parts of the state, according to a Fitch Ratings report. Those high taxes may keep consumers away from legal...

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 report from Fitch Ratings. The credit rating agency estimates state and local taxes on marijuana, which will become...