By: Counsel Jonathan Purow It is an exciting time in New York, as there is finally momentum towards the first sales in the adult-use cannabis market. Just weeks after Governor Hochul signed a bill to permit qualified hemp farmers to start growing the first batch of adult-use cannabis, the Cannabis Control Board has released…
By Counsel Lolla Stovall Cannabis production and sales is one of the hottest industries around, with an annualized growth rate of more than 20% for several years running. Marijuana stocks have experienced impressive runs, and it seems that another state or city legalizes recreational marijuana use daily. The success of cannabis startups and the greater…
By Janet Jackim, Partner, Cannabis Practice Chair In just the first six months of Arizona’s adult-use marijuana program, which commenced in January 2021, the state received combined medical and adult-use tax revenue totaling nearly $75 million. With combined sales in March 2021 reaching $120 million, according to the Arizona Department of Revenue, $1 billion in…
Unlicensed cannabis retailers take away tax revenue from state and local governments, and force those governments to divert needed public funding for investigation or prosecution. Unlicensed cannabis puts financial pressure on legal operators that are struggling to apply, comply, and prosper. Lack of quality control at unlicensed cannabis businesses also poses a public health risk…