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State Taxes Marijuana

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Seven

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Budgets - On Wednesday, the Senate Finance and Taxation General Fund Committee gave a favorable report to a committee substitute of the $3.3 billion 2025 General Fund Budget and supplemental budget. Some changes were made...more

Baker Donelson

SALT Select Developments - February 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Miller Nash LLP

Much Ado about Taxes: OLCC Releases Proposed Tax Compliance Rules

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Tax policy is an interesting animal and odd results occur whenever non-tax people get involved in developing tax policy. Oregon Governor Tina Kotek and the Oregon Liquor and Cannabis Commission (OLCC) are jumping into the tax...more

Goodwin

A Mini-Green Wave? Two More States Legalize Adult-Use Cannabis

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Over the past month, both Delaware and Minnesota have legalized adult-use cannabis. They are the first two states to legalize in 2023 and represent the 22nd and 23rd states to allow for adult-use commercial cannabis markets. ...more

Winthrop & Weinstine, P.A.

Legislative Top 5 - January 2023 #3

Governor’s Budget Rollout - This week, Governor Walz began rolling out key features of his proposed budget with two press conferences focused on investments in economic and children and families initiatives. The $12...more

McGlinchey Stafford

Tax Win in Oregon Reminds Cannabis Businesses to Properly Classify Expenses

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Tax season is nearly upon us. As cannabis businesses and the professionals who advise them can expect, navigating the variations and even direct conflicts that exist between and among the state and federal authorities that...more

Vicente LLP

Massachusetts Enacts Significant Changes to Marijuana Laws: What You Need to Know

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For the first time since adult-use legalization in Massachusetts, the Massachusetts Legislature voted to pass marijuana reform legislation that will impact the cannabis industry across the Commonwealth in significant ways,...more

Bond Schoeneck & King PLLC

New York’s 2023 Budget Will Provide State Tax Relief to Cannabis Businesses

On the heels of New York’s legalization of recreational marijuana and proposed regulations for the State’s emerging cannabis industry, cannabis businesses are positioned to receive new state tax breaks. On April 9, Gov. Kathy...more

Sheppard Mullin Richter & Hampton LLP

California Cannabis Farmers May Finally Get Some Relief

Residents of California often complain about high taxes, but no one pays higher taxes than the cannabis industry. In addition to the Federal 280E penalties, the cannabis industry in California is subject to a 15% state-wide...more

Goodwin

Connecticut to Become 18th State to Legalize Recreational Cannabis

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On June 17, 2021, the Connecticut General Assembly voted to approve the Responsible & Equitable Regulation of Adult-Use Cannabis Act (the “Act”). With Governor Ned Lamont’s signature expected today, Connecticut will become...more

Seyfarth Shaw LLP

A High Tax State – New York’s Potency Tax on Adult-Use Cannabis

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Adult-use cannabis legalization was passed in New York State when Governor Andrew Cuomo signed the Marijuana Regulation & Taxation Act (the “MRTA”) into law on March 31, 2021, after the Governor had previously attempted to...more

Rivkin Radler LLP

NY Is Set To Legalize Recreational Marijuana

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After years of fits and starts, New York has passed legislation to legalize recreational marijuana under the Marihuana Regulation and Taxation Act (S854-A) which Governor Cuomo intends to sign. The legalization aspect of the...more

Fox Rothschild LLP

First Look: New York State’s Adult-Use Cannabis Legislation

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New York will soon join its neighbor New Jersey among the most recent states to legalize adult-use cannabis. On Tuesday, March 30, 2021, the New York State Senate and Assembly voted overwhelmingly to legalize the...more

Goodwin

The Green Wave: Cannabis Legalization Sweeps in 2020

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It was a Green Wave on election night, with every cannabis-related legalization measure on the ballot passing, some by surprisingly large margins of victory. As a result of the November 2020 election, the number of states...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - February 2020 #7

Seizing the opportunity to get out and enjoy an increasingly rare sunny day in Atlanta, both the House and Senate convened and moved quickly through their agendas today. The House passed both HB 487 and HB 780 unanimously...more

Faegre Drinker Biddle & Reath LLP

Minnesota Legislative Update 2020 Session Preview

The start of the legislative session is right around the corner. The House and Senate will convene on Tuesday, February 11, 2020. The Senate DFL elected Sen. Susan Kent (DFL-Woodbury) as their new minority leader on February...more

Bradley Arant Boult Cummings LLP

Growing Pains with Medical Marijuana Taxation - Cannabis Industry News Alert

More and more states across the South are adopting medical marijuana regimes. With this growth comes growing pains. One such pain for marijuana businesses is the tension between following state laws on a product that is still...more

Fox Rothschild LLP

More California Cannabis Updates

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Last week, my colleagues wrote about AB 1291, which expanded upon the requirement for California cannabis companies with 20 or more employees to enter into labor peace agreements. A handful of other laws of note have recently...more

Moore & Van Allen PLLC

MVA Monitor - August 2019 #4

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As the budget stalemate nears its second month, new budget proposals emerged from the General Assembly. The next few weeks could see attempts at piecemeal budgets and tax rebates. In other news, high profile and controversial...more

Burr & Forman

South Carolina Hemp Cultivation and Extraction – Tax, Fee, and Fine Issues For Growers and Processors

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With the adoption by Congress of the 2018 Farm Bill, and which decriminalized the cultivation and growing of industrial hemp and related products, states now, including South Carolina, have adopted and expanded programs...more

McGuireWoods Consulting

Illinois End of Session Report

New Governor, New General Assembly, Democratic Trifecta - The 2019 legislative session began with the inauguration of a new governor and the members of the 101st General Assembly. With a large number of retirements and...more

Fox Rothschild LLP

Cannabis Industry State Tax Guide

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About This Guide- Businesses in the legalized cannabis sector face a daunting task in complying with state and Federal tax laws. This Guide is designed to assist in tax compliance by providing quick access to the relevant...more

Amundsen Davis LLC

Top 10 Things You Should Know About The Cannabis Regulation And Tax Act In Illinois

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On 5/31, the Illinois House voted to approve the Cannabis Regulation and Tax Act (“CRTA”), which will legalize the sale and use of cannabis for recreational purposes by individuals 21 and older. The State Senate approved the...more

Holland & Knight LLP

Illinois Legislature Legalizes Recreational Marijuana - An Overview of the Cannabis Regulation and Tax Act

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• On May 31, 2019, the Illinois General Assembly adopted the Cannabis Regulation and Tax Act (the Act) – legalizing the sale, possession and use of marijuana for recreational purposes by adults over age 21 starting Jan. 1,...more

Steptoe & Johnson PLLC

Legislature Significantly Amends the West Virginia Medical Cannabis Act

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On the first day of West Virginia’s legislative special session, the West Virginia Legislature enacted Senate Bill 1037, which made significant amendments to the West Virginia Medical Cannabis Act (the “Act”). The legislature...more

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