Tuesday, November 7, 2017
“When you add to that high tax rates, you increase the number of reasons why someone might not be able to become regulated.”
Nicole Howell Neubert, A Marijuana Industry Lawyer
“It’s important for local jurisdictions to do what they can to facilitate a successful cannabis industry.”
Dan Kalb, An Oakland City Council Member Who’s Supporting His City’s Efforts To Study The Feasibility Of A Public Bank
A Teaching Moment: California’s High Pot Taxes (CA – Cannabis Taxes)
Fox & Hounds (November 7, 2017) Do higher tax rates affect human behavior? As the nation considers tax reform, according to a report, taxes on pot in California could reach as high as 45% for the consumer. Combined with the slew of regulations on the way, suddenly the libertarian fervor of buying and selling pot doesn’t seem so, well, free.
California Pot Legalization Sprouts Thicket Of Taxes, Fees (CA – Cannabis Taxes)
Marijuana (November 5, 2017) 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.
New Insurance Lines Will Help Emerging Marijuana Market (CA – Cannabis Insurance)
Insurance Journal (November 5, 2017) The end of Prohibition in 1933 was greeted with celebrations, as newspapers slapped large-type headlines on their front pages declaring, for instance, that “Prohibition Ends At Last.” President Franklin Delano Roosevelt’s reputed words have made it into the quotation books: “What America needs now is a drink.” He may have been drinking a dirty martini when he said it.
How To Make Use Of R&D Tax Credit For The Cannabis Industry (CA – Cannabis Taxation)
Accounting Web (November 6, 2017) 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 research and development expenses as a tax credit.
How To Grow Legalized Cannabis Industry In SF Hotly Debated (CA – Cannabis Legalization)
San Francisco Examiner (November 6, 2017) Tougher restrictions on where cannabis outlets can open in San Francisco were proposed last week by members of the Board of Supervisors, prompting a backlash from supporters of recreational marijuana. The debate resumes today at the board’s Land Use and Transportation Committee, which is voting on how to regulate recreational cannabis.
Marijuana Company Developing Smokeless Products To Help With Pain And Anxiety (CA – Medical Cannabis)
The Daily Caller (November 6, 2017) A company called Honest Marijuana is developing new smokeless products in an attempt to provide the benefits of marijuana without unwanted side effects like paranoia and anxiety. The Daily Caller News Foundation spoke with Serge Christov, who is a financial partner in the Colorado-based company, about the future of the marijuana industry and the products they have in development.
In NorCal Fires, Weed Goes Up In Smoke (CA – Cannabis Industry)
Capitol Weekly (November 6, 2017) It’s being called the Wine Country Fire, but the fatal October fires that blackened nearly 200,000 acres across Northern California might also be called the Cannabis Country Fire. The latest estimates from the California Department of Insurance are that the fires overall resulted in damaging or destroying more than 14,700 homes, 728 businesses, and more than 3,600 private autos, commercials vehicles, agricultural equipment and watercraft.
Public Banks Offer Hope For Cannabis Industry (USA – Cannabis Banking)
The Cannabist (November 6, 2017) With most private institutions and credit unions still avoiding the legal cannabis industry, many marijuana businesses remain without bank accounts. But one idea is gaining acceptance among marijuana entrepreneurs and a growing number of cities and states: the formation of public banks to serve the cannabis industry. The problem? It’ll be a while before any open their doors.
EPA Denies Marijuana Pesticide Applications, But Is Open To Hemp Uses (USA – Cannabis Industry)
Marijuana Moment (November 6, 2017) The Trump administration has denied requests from states to allow pesticides for use on marijuana, but is open to considering their use on its non-psychoactive cannabis cousin, hemp, according to new documents from the Environmental Protection Agency (EPA). As noted previously by Bloomberg and others, EPA sent letters in June notifying officials from California, Nevada, Vermont and Washington that the agency planned to disapprove their requests to register pesticides for use on marijuana crops.
New Yorkers Can Vote For A Path To Legalization Tomorrow, Nov. 7 (NY – Cannabis Legalization)
Ganjapreneur (November 6, 2017) Voters in New York will decide tomorrow, November 7, whether or not to host a Constitutional Convention in 2019. If approved, Con Con (as it is known in some political circles) could become a platform for the statewide legalization of adult-use cannabis via an amendment to the state’s Constitution.
Going For The Summit: A Peek At Marijuana In Rhode Island (RI – Cannabis Legalization)
High Times (November 5, 2017) Having grown up in the Northeast, my friends and I dreamt of the verdant fields and greenhouses of Northern California and the West Coast dispensaries where you could walk in to find an array of flowers and an assortment of concentrates and infused products—things we could only fantasize about, or try to recreate in our kitchens and garages.
Michigan Police To Use Controversial Oral Swab For Roadside Cannabis Tests (MI – Cannabis Tests)
Ganjapreneur (November 6, 2017) State and local police in five Michigan counties are rolling out a controversial oral swab drug testing identification technology this week which officials say can test for six categories of substances during traffic stops in about five minutes, according to a FOX17report. The Oral Fluid Roadside Analysis Pilot Program will be used by police certified as Drug Recognition Experts in Kent, Berrien, Delta, St. Clair, and Washtenaw counties.
7 Highest-Paying Jobs In The Marijuana Industry (USA – Cannabis Industry)
Civilized (November 3, 2017) The marijuana industry is one of the quickest growing sectors of the American economy right now. More than 200,000 people are already employed in cannabis, and that number is only going to grow as more and more states legalize the drug. But what are the most lucrative jobs in the industry? Here are the seven highest-paying marijuana jobs, with approximate salaries.