Cannabis Stocks Archives - Page 2 of 16

FridayFeb 28, 2025 10:00 am

One Marijuana MSO is Reaping from Little-Known IRS Tax-Credit Scheme

A barely-known IRS credit scheme has allowed a multi-state marijuana operator (MSO) to earn millions of dollars in tax credits. Although cannabis firms remit hundreds of millions of dollars in taxes annually, federal law prevents them from claiming tax credits and deductions for operational expenses. However, Jushi Holdings took advantage of an obscure tax credit scheme to earn a little over $5 million. The Boca Raton-based vertically integrated MSO was owed around $6 million worth of Employee Retention Credit (ERC) by the IRS but would have had to wait for several months to claim the credit. Rather than buckle down…

ThursdayFeb 27, 2025 10:00 am

Study Shows NYC Youth are Accessing Marijuana from Unlicensed Outlets

A recent Columbia University study has revealed that youths in New York City have access to marijuana through unlicensed cannabis outlets. Even though New York State laws prohibit individuals under the age of 21 from accessing recreational marijuana, the study found that NYC youth are using illicit sellers to circumvent the state’s cannabis laws and access the drug before they are eligible. New York State legalized adult-use cannabis in 2021 and officially launched recreational marijuana sales in late 2022. Like in every other state with a regulated cannabis market, licensed cannabis retailers in New York State are legally required to…

TuesdayFeb 25, 2025 10:00 am

Michigan to Distribute Almost $100m from Cannabis Taxes to Communities

The Department of Treasury in Michigan announced on Friday that it will be distributing approximately $100m in cannabis tax revenue to 302 local communities and tribes. Detroit stands out as it will receive over $3m, the largest amount that any community in the state will receive. Every eligible county and municipality will get just over $58,000 for each retail store or microbusiness licensed to conduct operations within that jurisdiction. This sum was calculated based on the excise tax of 10% levied on all adult-use marijuana sales. This unit share is nearly the same as what was distributed last year when…

ThursdayFeb 20, 2025 10:00 am

Testing Lab Fraud Could Be Addressed by Involving Marijuana Industry Actors

Involving cannabis industry players in marijuana testing could help U.S. states address testing lab fraud, scientist David Vaillencourt says. Testing is critical to ensuring the cannabis products entering the U.S. market are free from potentially harmful contaminants like heavy metals, residual solvents, and bacteria. However, data has consistently shown that America’s state-approved cannabis industry is awash with untested products. In late 2024, a state-approved cannabis operator in Colorado ran a series of tests on retail cannabis products purchased in licensed marijuana stores from the Denver area, revealing something shocking: the majority of the products violated state health and labeling standards.…

FridayFeb 14, 2025 10:00 am

Illinois Recorded $2bn in Cannabis Sales in 2024

The Illinois Department of Revenue has revealed that the Buckeye State generated over $2 billion in legal cannabis sales and almost $500m in tax revenue last year. Illinois legalized recreational cannabis use on January 1, 2020, becoming the 11th state to allow adult-use cannabis and the first state to legalize the controversial drug via a state legislature instead of a ballot initiative. Recreational cannabis operators in Illinois earned $1.72 billion in total last year, with over $153 million worth of sales occurring in December. Medical marijuana sales for the year 2024, on the other hand, reached $285 million. Illinois earned…

ThursdayFeb 13, 2025 10:00 am

Prohibitionists, 2 American Senators Work to Block 280E Relief for Marijuana Companies

Two U.S. Senators have teamed up with prohibitionists to work on legislation that would block marijuana firms from receiving potential tax relief under Schedule III of the Controlled Substances Act. Senators Pete Ricketts and James Lankford are working with Smart Approaches to Marijuana to block 280E relief for state-sanctioned cannabis companies in the U.S. As marijuana remains a Schedule I controlled substance at the federal level, cannabis firms cannot function as effectively as businesses in other industries. For instance, they lack access to most banking services and cannot receive any kind of financial relief from the federal government even though…

TuesdayFeb 11, 2025 10:00 am

Report Finds Marijuana Dispensary Warning Signs to Pregnant Women Ineffective

A recent report has revealed that signs at cannabis dispensaries warning about the potential effects of using marijuana while pregnant are ineffective. The report was conducted by Rutgers University and published in the Journal of Studies on Alcohol and Drugs. It found that pregnant cannabis users may even be distrustful of the contents of these warning signs. According to lead researcher and University of California Professor Sarah C. M. Roberts, the mandatory warning signs posted at cannabis dispensaries aren't working as intended. She says some of the participants involved in the study view the warning signs as stigmatizing pregnant women…

FridayFeb 07, 2025 10:00 am

Authorities Point to Cartel-Linked Cannabis Grows as Oklahoma Market Experiences Glut

Authorities in Oklahoma are worried that the state’s booming medical marijuana industry may be fueling the growth of the illicit cannabis market. Oklahoma legalized medical cannabis in 2018 and by 2021 there were over 9,400 registered grow operations competing to fulfill the state’s demand for cannabis. While the number of licensed growers had fallen to over 2,200 by December 2024, Oklahoma’s illegal cannabis market seems to be growing in leaps and bounds. The market has become so prolific that experts have raised questions about the integrity of Oklahoma’s legal systems and the state’s public safety. Like every U.S. state with…

ThursdayFeb 06, 2025 10:00 am

Colorado Marijuana Firm’s Testing Experiment Reveals Extent of Pesticide, Microbial Contaminants

A recent review of Colorado’s recreational marijuana products has revealed that over 85% of the products sold by regulated cannabis retailers may violate labeling and health laws. An analysis conducted by one cannabis operator found a shocking amount of microbial and pesticide contaminants in a majority of retail adult-use products Colorado residents consume. In November 2024, Ripple CEO Justin Singer instructed his staffers to purchase cannabis pre-rolls, shakes, and flower from marijuana retailers in the Denver area. Singer was frustrated by the Colorado Marijuana Enforcement Division’s (MED) seeming reluctance to carry out its mandate of ensuring state-regulated marijuana products are…

TuesdayFeb 04, 2025 10:00 am

Missouri Courts Close to Completing Review of Marijuana Expungements

Missouri courts are close to completing their review of cannabis expungements after expunging hundreds of thousands of cannabis cases. The review began after Missouri voters approved a constitutional amendment to legalize adult use marijuana in 2022 and has seen state courts expunge over 300,000 cases. The amendment instructed Missouri courts to search their files for eligible cannabis-related offenses and permanently remove them from the records of affected Missourians. The largest counties in Missouri are mostly done with the bulk of the review process but it will likely continue well into 2025. Estimates from the Missouri Supreme Court show that counties…