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 […]
Minnesota Marijuana Businesses Say Tax Increase Could Drive Consumers To The Illegal Market
“What we saw in California is that the high tax on legitimate cannabis leads straight to the black market. And I’m very concerned that that’s going to have the same or similar impact here.” By Shadi Bushra, MinnPost A last-minute tax hike on cannabis products passed as part of Minnesota lawmakers’ special session budget compromise […]