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.
Cannabis growers have paid a little over $11 million to the County of Humboldt in excise taxes so far since the plant was decriminalized. The county has billed growers for an additional $11,681,875.90, but that amount has not been collected.
Cannabis retailers in Manitoba are to expect another tax on their business. This time it’s a 6% levy to cover the province’s ‘social costs’ of legalizing marijuana. Is it fair that retailers should have to bear the costs of education, safety, health, and addiction?
The city of San Diego has made more than $3.6 million in revenue from the Cannabis Business Tax (CBT) through the first three quarters of 2018, NBC 7 has learned. The CBT was implemented in January after recreational marijuana use became legal.
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.
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.
On Tuesday, voters of Contra Costa County approved Measure R which will now tax marijuana businesses similar to those dealing with alcohol and tobacco. It was passed with 71.73% support (158,898 votes) to 28.27% who opposed (62,623 votes).
El Dorado County voters Tuesday approved five ballot measures legalizing the cultivation and sale of commercial marijuana. All five measures passed by wide margins , signaling a shift in the conservative-leaning county, cannabis advocates said.
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.
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