California Cannabis Tax Collection and Penalty Nightmares February 28, 2024 AggregatedNews California, Taxes 0 Comments By Griffen Thorne, Attorney at Harris Sliwoski, California’s cannabis taxes are a disaster, with no end in sight. I’ve written about the state’s tax problems extensively, but today I want to talk about what the state can do when it comes to… Read More→
Texas AG Paxton sues cities over marijuana decriminalization February 1, 2024 AggregatedNews Taxes 0 Comments Texas Attorney General Ken Paxton (R) is suing five Texas cities over their decriminalization of marijuana. In a Wednesday press release, the office of the attorney general (OAG) said it was suing the cities for “instructing police not to enforce Texas drug laws… Read More→
California’s Cannabis Taxes Are a Disaster January 22, 2024 AggregatedNews California, Taxes 0 Comments By Griffen Thorne, Attorney at Harris Sliwoski Cannabis regulation efforts are usually sold to voters or legislators with the express promise that a state will be able to milk the new industry for all it’s got through cannabis taxes. Don’t… Read More→
Oregon Cannabis PSA: A Little Grace on Retailer Tax Compliance Requirements September 21, 2023 AggregatedNews Oregon, Taxes 0 Comments By Vince Sliwoski, Attorney at Harris Bricken It’s been a minute since we wrote about the new OLCC tax compliance rules for retailers. These temporary rules require all retailers to certify tax compliance via the Oregon Department of Revenue (DOR) in… Read More→
‘Unacceptable’: AG says California needs to lower cannabis taxes August 30, 2023 AggregatedNews California, Taxes 0 Comments California’s illegal cannabis industry is booming, with billions of dollars of weed produced at illegal farms and sold at illicit pot stores every year, despite voters legalizing cannabis more than six years ago. That’s left one high-ranking California official calling on the state… Read More→
Cannabis Taxation is Theft July 17, 2023 AggregatedNews Taxes 1 Comment By Griffen Thorne, Attorney at Harris Bricken Whether you’re the kind of person who wants to End the Fed, or the kind of person who wants to tax the rich like a Scandinavian nation, you’ll probably agree on one thing:… Read More→
New law permits NJ cannabusinesses to claim state tax deductions May 10, 2023 AggregatedNews New Jersey, Taxes 0 Comments New Jersey’s nascent legalized cannabis industry is set to see some much-needed tax relief. Under a law signed May 8 by Gov. Phil Murphy, the state’s corporate business tax provisions will be decoupled from federal rules prohibiting deductions and credits for cannabis… Read More→
What Biden’s Tax Plan Would Mean for the Cannabis Industry March 11, 2023 AggregatedNews Taxes 0 Comments By Griffen Thorne, Attorney at Harris Bricken President Joe Biden just dropped the federal budget for 2024. The White House boldly claims that the tax plan will reduce the deficit by $3 trillion over the next 10 years. But several… Read More→
As San Diego’s cannabis tax revenue plummets, officials blame illegal market, new competition February 14, 2023 AggregatedNews Black Market, California, Taxes 0 Comments Inflation may be driving customers to illegal delivery services, which can charge less because of lower overhead, fewer regulations. Revenue from San Diego’s cannabis tax has been dropping sharply in recent months as the city’s two dozen dispensaries face growing… Read More→
California Cannabis Tax Payment Plans September 7, 2022 Hilary Bricken California, Taxes 0 Comments By Hilary Bricken, Principal at Harris Bricken Recently, numerous clients have come to us about issues with cannabis payment plans and the California Department of Tax and Fee Administration (“CDTFA“). Recall, there was a time in California (not that long… Read More→
Entity structure considerations for MSOs April 4, 2022 Dave McManus Accounting, Multiple State Operators, Taxes 0 Comments Multi-state operators may need to weave a complex web when it comes to corporate structure. Operators entering new jurisdictions must consider many factors, the most significant being tax exposure, licensing restrictions, and potential exit scenarios as they determine which entity… Read More→
States, flush with marijuana money, are now fighting over what to do with it March 17, 2022 AggregatedNews Policy & Legal, Taxes 0 Comments Activists and politicians are sparring over whether marijuana cash should go to communities targeted by drug arrests. Legal marijuana sales have been a boon to revenues in 11 states. But as the marijuana tax revenue boosts state treasuries, activists and… Read More→
In Texas and Beyond, Hemp Companies Want More Regulation, Not a Ban on THC Isomer Products March 9, 2022 AggregatedNews Hemp Business Executive, Taxes 0 Comments Lawmakers across the U.S. have a beef with THC isomer products, which have flooded the market over the last few years. Now, many legislators want new rules and legislation. Some want to ban the products outright, but many want the products… Read More→
Marijuana excise taxes outpace alcohol in Massachusetts January 23, 2022 AggregatedNews Massachusetts, Taxes 0 Comments BOSTON (AP) — Excise taxes for marijuana sold for adult recreational use exceeded alcohol excise taxes for the first time in Massachusetts, reflecting growing marijuana sales that reached $2.54 billion, according to the Cannabis Control Commission. Massachusetts collected $74.2 million… Read More→
Multi-State Tax Considerations for Multi-State Operators January 5, 2022 Dave McManus Accounting, Multiple State Operators, Taxes 0 Comments Cannabis legalization continues to gain momentum across the country, with several new states having legalized marijuana in 2021. As of this post, the number of states in which recreational marijuana is legal is 18, and 16 other states allow for… Read More→