In the spring of 2023, the Illinois Department of Commerce and Economic Opportunity will issue $8.75 million in state-backed loans for social-equity licensees in the cannabis business. Up to $500,000 is available to qualified businesses with $0 interest for 18 months. Emily Bolton, a spokesperson for the Commerce Department, told the Sun-Times that businesses who […]
Under the CORE initiative of the city of Sacramento, the first social justice cannabis retail store in the state capital has opened for business. CBS News Sacramento reports that the city’s social equity program has helped launch the region’s first legal cannabis business. Rob Jackson and Lauren Carpenter’s Embarc is the first cannabis business to
In Sacramento, the First Social Equity Cannabis Retailer Opens Read More »
100 applications for the first marijuana consumption lounge permits in Nevada were submitted during a brief period last month, and the state’s marijuana officials say they aim to begin giving licenses in “early 2023.” Starting on October 14th, the Nevada Cannabis Compliance Board (CCB) began taking applications and continued until October 27th, when they stopped.
Since its legalization in 2012, Colorado has made $2.2 billion in taxes off of the sale of marijuana for adults. Mason Tvert, told 9 News that Colorado’s legalization victory at the ballot box a decade ago “triggered a lot of talks and got a lot of elected leaders both in the U.S. and internationally
Colorado Sold More than 13B in Cannabis Since Legalization Read More »
A leading regulator in New York indicated that the upcoming Cannabis Control Board (CCB) meeting might authorize the first licenses for recreational marijuana retailers in approximately two weeks. Axel Bernabe of the Office of Cannabis Management (OCM) said at the Business of Cannabis conference in New York City that while nothing has been officially scheduled
According to a survey conducted by Real Estate Witch, 71% of Americans think cannabis legalization is good for state economies, and while only 52% of respondents said they would consider purchasing a home directly next to an adult-use cannabis dispensary, 69% said they would purchase a home within a mile of such a business. Over
71% of Americans Believe Cannabis Boosts State Economies, According to a Recent Survey Read More »
Lawmakers in New Jersey have passed a measure allowing marijuana businesses to use a partial 280E workaround to claim state tax deductions. Even though federal deductions for the marijuana sector remain prohibited by Internal Revenue Service (IRS) code 280E, the New Jersey Assembly has advanced a bill that would allow licensed marijuana businesses to deduct
New Measure in New Jersey Helping Cannabis Businesses With 280E Workaround Read More »
Legislators in Washington, D.C., approved a bill that would fundamentally alter the District’s medical marijuana program in a number of ways, including by eliminating licensing caps for medical marijuana businesses, fostering social equity in the sector, and establishing new regulated business categories like cannabis cooking classes and on-site consumption facilities according to a report by
Vote by D.C Committee to Eliminate Medical Marijuana Licenses Caps Read More »
Pennsylvania officials are seeking proposals from nonprofit marketing and promotion groups for projects intended to boost the state’s hemp product sales, exports, or consumer awareness. The state Agriculture Department intends to provide $200,000 in matching funds with a minimum grant of $1,000 to cover up to 50% of the project costs. The awards “will fuel
Proposal for $200K in Grant Funds to Boost Hemp Industry in Pennsylvania Read More »
The Fort Smith Times Record reported that medical cannabis sales in Arkansas are already at $205 million so far this year which is on track to top last year’s totals. The main driver of this growth is the expansion of the qualifying conditions for medical cannabis use in Arkansas. In February of this year, the
Medical Cannabis Sales Reach $205 Million in Arkansas Read More »
