Monday, November 13, 2017
“Washington has scared off so many banks, they fear doing business with cannabis operators will bring down the wrath of the federal government and law enforcement.”
John Chiang, CA State Treasurer
“We don’t know what the rules are, it’s kind of scary for the industry.”
Caity Maple, A Sacramento Lobbyist Representing The California Cannabis Courier Association
In California, This Candidate Hopes A Cannabis Tax Plan Boosts His Profile (CA – Cannabis Tax)
Leafly (November 10, 2017) California’s “other” pro-cannabis candidate for governor, state Treasurer John Chiang, took to the stage earlier this week before a circle of television cameras at the state capitol. It was a rare moment in the spotlight for Chiang, 55, the state’s chief numbers cruncher. Bespectacled and cerebral, his demeanor comes across as consistently calm and measured.
California Could Tax The Daylights Out Of Marijuana Consumers (CA – Cannabis Tax)
Madison (November 12, 2017) 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 2021, leading to a market generating approximately $17 billion in annual sales.
Pushing Marijuana Back Into The Shadows With High Taxes (CA – Cannabis Tax)
The Orange County Register (November 11, 2017) A global credit rating agency says taxes on recreational marijuana in California could reach 45 percent in some places, high enough to keep the thriving black market in business despite legalization. The report by Fitch Ratings, “Local Taxes May Challenge Cannabis Legalization in California,” warns that state and local taxes may combine to threaten the government revenue expected from the sale of legalized cannabis and cannabis products.
MGO’s California Cannabis Tax Collection Solution Endorsed By Treasurer’s Working Group (CA – Cannabis Tax)
The Cannabis Ventures (November 12, 2017) As California moves towards regulation of medical cannabis and full legalization for adult-use, the state is tackling many challenges in advance of the new regulatory system, which will include tax payments to the state by licensed operators. On November 7th, John Chiang, California’s Treasurer, released a report this week from a panel of 18 stakeholders, the Cannabis Banking Working Group (CBWG), which has a goal of recommending strategies to address the lack of access to banking.
What You Need To Know About Buying Recreational Marijuana In San Diego (CA – Recreational Cannabis)
The San Diego Union Tribune (November 10, 2017) A year after California voters legalized recreational marijuana, cities from San Diego to Eureka are about to find out whether consumers will flock to licensed stores to buy it. The state and many cities are hustling to write and issue the permits that retailers would need to begin selling cannabis on January 1st, a long-standing goal.
Long Beach To Decide Whether To Allow Sale Of Recreational Marijuana (CA – Recreational Cannabis)
Press Telegram (November 10, 2017) Now that Long Beach has settled the issue of medical marijuana, leaders Tuesday will turn to an even thornier question of whether to allow commercial sales of recreational pot. Long Beach joins a long list of other cities grappling with the issue after California voters passed Prop. 64 in November 2016. On Jan. 1, the first state licenses will be issued for every type of marijuana business, from cultivators of medical cannabis to distributors of recreational marijuana — but only if local jurisdictions allow it.
Think You’ll Be Able To Buy Recreational Marijuana In Sacramento Jan. 1? Think Again (CA – Recreational Cannabis)
The Sacramento Bee (November 10, 2017) When recreational marijuana sales became legal in Nevada on July 1, customers were lined up around the block of a dispensary near downtown Reno, eager to buy buds. In Las Vegas, cannabis enthusiasts showed up in limos and tour buses, ready to participate in the opening-day pot festivities.
The Next “It” Ingredient In Beauty Products Is Marijuana (CA – Cannabis Industry)
Quartzy (November 12, 2017) When CAP Beauty launched a new dietary supplement in August, the retailer didn’t send beauty magazine editors any promotional cupcakes or cookies. Instead, they sent pot brownies.
California’s Weed Industry Could Be Harming The Environment More Than Logging (CA – Cannabis Industry)
Seeker (November 10, 2017) Marijuana cultivation is taking a toll on the land and is on track to create an environmental crisis if left unchecked. Writing in the journal Frontiers in Ecology and the Environment, researchers said weed growing is destroying habitats, altering streams, and causing soil erosion and landslides on a scale that’s proportionally worse than logging.
Amazing CannaKids Stories Of Cannabis Oil Beating Diseases Covered By Local California TV Station (CA – Medical Cannabis)
Marijuana Times (November 10, 2017) Everyone who contributes to The Marijuana Times obviously has a passion for the cannabis plant and the ever-growing, lucrative industry that comes with legal herb. What we cherish most, though, are success stories that pull on the heartstrings and continue to confirm what we’ve known all along: the cannabis plant works in miraculous ways.
Yountville Punts On Cannabis Dispensary, Seeks Public Forum In 2018 (CA – Cannabis Dispensaries)
Napa Valley Register (November 12, 2017) As California moves close to the Jan. 1 start of legal use of recreational marijuana, there will be no sales in Yountville, or outdoor cultivation of the plant, just yet. Looking ahead to the start of lawful non-medical cannabis use starting Jan. 1, the Town Council last week decided against immediate changes in its local ordinances, at least for now.
Man Busted With Nearly 23 Pounds Of Cannabis On Amtrak (CA – Cannabis Industry)
The Register Mail (November 10, 2017) A California man was busted with nearly 23 pounds of cannabis on an Amtrak train Thursday. According to a news release from the Knox County Sheriff’s Department, Sing Sengon, 59, of Sacramento, Calif., was arrested and charged with cannabis trafficking more than 5,000 grams and manufacturing/delivery of cannabis more than 5,000 grams Thursday afternoon.
A ‘New’ Marijuana ETF Is On The Way (USA – Cannabis Industry)
Seeking Alpha (November 12, 2017) In 2012, Washington and Colorado became the first states to legalize recreational marijuana use. By 2020, it’s expected that marijuana will grow to a $21 billion a year industry. ETF investors who have been clamoring for a good way to get in on the cannabis trend have largely been unserved. There’s the recently launched Horizons Marijuana Life Sciences ETF (HMMJ) but that only trades on the Toronto Stock Exchange. That’s about to change as the ETFMG Alternative Agroscience ETF is scheduled to begin trading later in December.
Epileptic Girl Sues Sessions To Legalize Medical Marijuana Nationwide (USA – Medical Cannabis)
RT (November 11, 2017) A 12-year-old girl suffering from epilepsy is suing Attorney General Jeff Sessions in order to legalize marijuana for medicinal purposes on a federal level. A motion by the US government to dismiss her case has been denied.