Michigan Senators Weigh Marijuana Regulatory Reform Bills To Aid Industry Reeling From New Tax Increase
“Our members are asking this committee to assist our industry in creating market stability and thoughtful and collaborative industry planning moving forward.” By Kyle Davidson, Michigan Advance Nearly two weeks after Michigan lawmakers took up legislation instituting a 24 percent tax on wholesale marijuana, members of the Senate Regulatory Affairs Committee heard testimony on multiple […]
New Michigan Marijuana Tax Could Shutter Businesses And Actually Reduce The State’s Cannabis Revenue, Industry Says
“If you put more of a tax burden on these companies…they’re going to start going out of business. If there are no more businesses in this industry, who in the heck are you going to collect the taxes from?” By Kyle Davidson, Michigan Advance As state budget negotiations drew to a close last week, members […]
GOP Senator Wants To Let States ‘Opt In’ To Marijuana Legalization And Set A Federal Tax On It, Saying He’s ‘Not An Anti-Cannabis Person’
A GOP senator says it’s time to create a regulatory framework for marijuana with a federal excise tax and allow states to “opt in” to legalization—stating that he’s “not an anti-cannabis person” but stressing that certain rules should be implemented. Sen. Thom Tillis (R-NC) might not be the voice most would expect to back comprehensive […]
Michigan Marijuana Industry Files Lawsuit Against Newly Enacted Tax Increase
The Michigan Cannabis Industry Association argues the tax hike would either need to be approved by voters or achieve a three-fourths vote in the Legislature. By Kyle Davidson, Michigan Advance A cannabis industry trade association is challenging the state’s newly approved tax on the sale or transfer of wholesale marijuana, filing the complaint shortly after […]
Michigan Lawmakers Approve Marijuana Tax Increase Projected To Raise $420 Million In Annual Revenue
“There was a willingness to consider multiple ways to get enough revenue… This just happened to be the one that could get the votes.” By Ben Solis, Michigan Advance After much hand wringing and consternation from lawmakers who feared detrimental effects to Michigan’s cannabis industry, the Michigan Senate voted early Friday morning by a thin […]
Will This Tax Freeze Save California’s Cannabis Industry?
When it comes to cannabis regulation, California has long been an example for others to follow. It was one of the first places in the world to allow medical weed, boasting a nascent industry around the plant. Yes, California could have one of the largest cannabis markets in the US (or even the world!)… if […]
Michigan House Fast-Tracks 24% Weed Tax, Industry Says It’s a Death Blow
Michigan lawmakers are moving ahead with a plan to impose a 24% wholesale tax on marijuana, a move the cannabis industry warns could “decimate” the state’s market and drive consumers back underground. The bill, passed 78–21 by the House last week, is part of a larger road funding deal expected to generate as much as […]
Michigan Lawmakers Pass Marijuana Tax Increase That’s Projected To Bring In $420 Million In New Revenue Every Year
“Everyone knows that a large increase in cannabis taxes drives customers straight back to the illicit market. That means businesses are going to fail, jobs will be lost and less tax revenue will be collected.” By Jordyn Hermani, Bridge Michigan This story was originally published by Bridge Michigan, a nonprofit and nonpartisan news organization. To […]
California Governor Signs Bill To Roll Back Marijuana Tax Hike
The governor of California has signed a bill into law to put a pause on a recently enacted tax hike on marijuana products. Weeks after the legislature delivered the measure from Assemblymember Matt Haney (D) to his desk, Gov. Gavin Newsom (D) gave it final approval on Monday. “We’re rolling back this cannabis tax hike […]