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Cannabis Wednesday News: California Marijuana Taxes Won't Go up for a Year under New Bill

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"Cannabis Wednesday News: California Marijuana Taxes Won't Go up for a Year under New Bill; Legal Cannabis Dispensaries Still Face Challenging Landscape, etc."

California Marijuana Taxes Won't Go up for a Year under New Bill Signed by Gavin Newsom

sacbee - The California cannabis industry is getting a bit of a tax break, courtesy of the California Legislature.

Gov. Gavin Newsom signed a bill late last week into law that prohibits the California Department of Tax and Fee Administration from adjusting the cannabis excise tax markup amount until July 1, 2021.

The bill also prohibits the cultivation tax rates for the 2021 calendar year from being adjusted for inflation, unless that adjustment would result in an inflation rate less than zero.

Cannabis Industry Has Blockbuster Summer in Sales

prnewswire - Between the months of June and August, overall monthly cannabis sales increased by 19%. Though the increase was smaller than in previous years, that was mainly attributed to the sustained and stable growth of cannabis sales throughout the year brought on by the COVID-19 outbreak.

Throughout the summer, holiday weekends such as the 4th of July and Labor Day saw significant jumps in cannabis sales, leading to two of the highest grossing sales days of 2020 so far.

Aurora Cannabis may hike its prices in a value-obsessed pot market

Yahoo - Aurora Cannabis (ACB.TO)(ACB) is betting consumers will be willing to swallow price hikes on its higher-end pot as the company ups its focus on more profitable premium products. The strategy shift spelled out by new chief executive officer Miguel Martin on Tuesday comes as discount brands surge in popularity across Canada’s legal sector.

ACB - Yahoo

Niagara Has Six Authorized Cannabis Retailers, more than 30 Awaiting Approval

niagarafallsreview - Sherri Graham is the general manager of 10 Cannabis Supply Co. locations in the province — one of them on Niagara Parkway in Fort Erie that started serving THC products over the counter on Aug. 24.

Since 2016, the company served medicinal customers as a telemedicine clinic, which the Fort Erie store also did prior to becoming a full-service dispensary for recreational users last month.

It has plans to open a location in Niagara Falls around mid-December, and another in St. Catharines in early 2021, said Graham.

Currently the lone licensed store in Fort Erie, a town of 30,000 people, they could have some company from the same industry nearby soon.

Halo Signs Definitive Agreement to Acquire Cannafeels

Halo Labs Inc. ("Halo" or the "Company") (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) has entered into a definitive share exchange agreement, dated effective September 22, 2020 (the "Share Exchange Agreement"), with 1265292 B.C. Ltd., doing business as Cannafeels ("Cannafeels"), and the shareholders of Cannafeels (the "Shareholders"), pursuant to which the Company will acquire all the issued and outstanding shares of Cannafeels in exchange for common shares of Halo (the "Acquisition").

Legal Cannabis Dispensaries Still Face Challenging Landscape

bisnow - Illinois legalized adult-use cannabis nearly nine months ago, but making it legal didn't transform weed into a normal product. Retailers and growers are still subject to an array of regulations and requirements no other business has to deal with, and as state officials learn more about how to make legalized cannabis work, providers need to be prepared for constant changes.

"Every day, regulations are changing and changing quickly," Cresco Labs Executive Vice President John Sullivan said.

Holyoke Community College, Elevate Northeast Partner for Cannabis Career Training

masslive - Holyoke Community College and its new community partner, Elevate Northeast, are launching a revitalized cannabis careers training program in October.

The program, offered through the Cannabis Education Center, begins the weekend of Oct. 16 and 17 with two days of required core curriculum training over Zoom.

Each day will be broken down into two sessions, 9 a.m. to noon, and 1 to 4 p.m. Each session will include presentations from cannabis industry experts followed by a question and answer period.

Holyoke Community College is set to begin a new cannabis career training program. - masslive

West Virginia Local Candidates Introduce 'Strongest Cannabis Bill in U.S.'

Politically progressive candidates from the state of West Virginia teamed up with cannabis advocates to announce their plans for what they call "the strongest cannabis bill in the United States" on Friday, September 18th. 

West Virginia democrats such as Rusty Williams, Chris Yeager. Mike Lockard, Nikki Ardman, Cory Chase and Hilary Turner met at Chris Yeager's hemp farm in Southside, West Virginia to introduce a bill to decriminalize the cultivation, production and personal use of cannabis for all West Virginians over the age of 21. 

The comprehensive cannabis bill was introduced to modernize hemp laws and keep the wealth here in West Virginia.

Vt. Senate Approves Regulated Cannabis; Scott not Expected to Oppose

wcax - Vermont lawmakers Tuesday took final action to approve a bill setting up a regulated market to tax and sell marijuana, and the measure now heads to Republican Gov. Phil Scott, who has indicated he will let it become law. The cannabis bill, along with measures addressing climate change and police reform were among the bills moving forward as lawmakers rush to wrap up the extended COVID session.

Oklahoma Signs Seed-to-Sale Contract with Metrc

cannabisdispensarymag - The Oklahoma Medical Marijuana Authority (OMMA) has announced that it has signed a contract with Metrc to implement a statewide seed-to-sale system to track cannabis plants and products in the state’s medical cannabis market.

The system will track medical cannabis plants and products from a plant’s growth stage through the sale to patients, and is part of OMMA's broader efforts to ensure accountability and safety in the state’s medical cannabis market, according to the announcement.

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