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Uber and Lyft Drivers Are Ditching the Service to Deliver Weed

Uber and Lyft were once the go-to way for people to earn extra cash. But apparently there’s a new way to use your car to make more money: delivering weed. The  San Francisco Chronicle  detailed how many Uber and Lyft drivers in California are cutting back their hours on the rideshare apps to deliver marijuana.

Source: Uber and Lyft Drivers Are Ditching the Service to Deliver Weed

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Cannabis-Related Transactions Spike at Banks, Credit Unions

More banks and credit unions are pot-banking, government data show. The number of depository institutions conducting banking transactions for marijuana cultivators and related businesses rose to 486 at the end of the third quarter from 400 in the year-ago period, according to the Treasury Department’s anti-money laundering bureau.

Source: Cannabis-Related Transactions Spike at Banks, Credit Unions

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Marijuana tax becoming small but significant part of Bend’s budget

A – A + About two years after Bend voters imposed a 3 percent local sales tax on marijuana dispensaries in city limits, proceeds from that tax and Bend’s portion of a statewide recreational marijuana tax exceed $1.5 million and have become a small but significant part of the city’s budget.

Source: Marijuana tax becoming small but significant part of Bend’s budget

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Vermont Advisory panel to recommend 26% tax on cannabis sales

By Kit Norton/VTDigger The subcommittee on taxation and regulation will be recommending to the Governor’s Marijuana Advisory Commission that the state adopt the highest tax rate on recreational cannabis currently in New England. It will be recommended to the the full committee next month that Vermont adopt a 26 or 27 percent tax rate on cannabis sales – Massachusetts has a tax rate up to 20 percent and Maine has a 10 percent state retail sales tax, according to the drafted document.

Source: Advisory panel to recommend 26% tax on cannabis sales

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New Taxes for California Cannabis Industry

Welcome to the evolving world of cannabis legislation and taxation in California. With the recent 2018 midterm election, a green wave of new laws and regulations has washed ashore, and Taxnexus, a cannabis tax compliance service provider for cannabis businesses, has analyzed the results, looking for insights to guide cannabis business owners in 2019.

In summary, the trend of local counties and cities imposing new cannabis taxes on dispensaries, distributors and cultivators continues, but with some important lessons being learned.

Read the full article by Jasmine Davaloo, Esq. here: New Taxes for California Cannabis Industry