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Oregon rakes in $60 million in state sales taxes from marijuana

Category: News | Posted on Sun, January, 22nd 2017 by THCFinder

Recreational marijuana sales in Oregon produced $60.2 million in state tax ­revenue in 2016, the first year of state-taxed pot sales.

For much of the year, ­marijuana sellers collected a 25 percent sales tax.

To produce the $60.2 million in tax revenue reported by the state Department of Revenue on Friday, total retail sales of marijuana and ­pot-laced products last year would have had to equal about $241 million.

Marijuana tax revenues ­exceeded projections, said Mazen ­Malik, senior economist for the Oregon Legislative Revenue Office. He had estimated ­marijuana sales would ­produce $44 million during the year, $16 million less than what came in.

Higher-than-predicted prices for marijuana extracts and edibles may have contributed to the higher than projected tax revenues, Malik said.

Read More:http://registerguard.com/rg/news/local/35198483-75/oregon-rakes-in-60-million-in-state-sales-taxes-from-marijuana.html.csp


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Legalization’s Impact: Growing Revenue, Narrowing Margins

Category: News | Posted on Sun, January, 22nd 2017 by THCFinder

The legalization of cannabis throughout North America has created many opportunities for companies and investors, but the increase in supply has made the industry less profitable over time. While the cannabis industry is expected to soar to more than $20 billion in just five years, driving significant potential revenue, prices have fallen anywhere from 25% on the retail side to nearly 50% for wholesalers, which has put a strain on profit margins.

In this article, we will take a closer look at these trends and how they could play out for companies operating in the burgeoning industry.

Significant Revenue Opportunity

ArcView Research estimates that the North American cannabis industry will triple in size to more than $20 billion in five years. In addition to recreational legalization in Canada, California, Nevada, Maine, and Massachusetts’ recreational legalization will be key revenue drivers. Many companies have already benefited from these trends in both the U.S. and Canada and could experience even greater revenue growth over the coming years.

Read More:https://www.theweedblog.com/legalizations-impact-growing-revenue-narrowing-margins/


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Israel Is Running Out of Marijuana

Category: News | Posted on Sun, January, 22nd 2017 by THCFinder

Israel has big plans for cannabis.

Already a worldwide leader on marijuana-related research—with a government-approved, government-funded national research center under construction, and “millions of shekels” invested into companies working on marijuana products—Israel’s government has allowed medical marijuana as a tonic for intractable illnesses since 1992. Now, as legalization spreads like spider mites across America, Israel believes marijuana can be a money-making export product.

Israelhas plans to begin exporting medical marijuana to other countries within a few years, but in the short term, the country’s cannabis program is a victim of its own success.

As things stand now, Israel is going to run out of weed.

Read More:http://hightimes.com/news/israel-is-running-out-of-marijuana/


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Marijuana Under Trump: It Won’t Get Better

Category: News | Posted on Sat, January, 21st 2017 by THCFinder

The near-continuous rank speculation that’s been a way of life in America since the early-morning hours of Nov. 9 ends today. At noon, Donald J. Trump took the oath of office and was sworn in as the 45th president of the United States. He’ll now have access to the @POTUS Twitter handle and the nuclear codes—perhaps using one to announce, in real time, what he plans to do with the other—and then sometime, maybe this afternoon, maybe over the weekend, in between presiding over inaugural balls or empowering alt-right internet trolls, President Trump will get around to figuring out exactly what he’s going to do about all those grandiose (and, in some cases, unconstitutional) campaign promises.

So where, exactly, do drug policy reform and the country’s marijuana industry fit into making America great again?

Already dealing with a president in open conflict with his own country’s intelligence community, who has a defense policy that’s driven deep fear into many of America’s oldest allies, it may be hard for much of the country to care about drug policy. But there is much at stake.

Read More:http://hightimes.com/news/marijuana-under-trump-it-wont-get-better/


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The HIA Challenges the DEA’s Recent CBD Code

Category: News | Posted on Sat, January, 21st 2017 by THCFinder

The HIA has filed a petition for a review of the DEA’s recent internal changes which gave a specific code to CBD and CBD-derived products.

Back in December we wrote about a statement issued by the DEA that said that under “Final Rule—Establishment of a New Drug Code for Marihuana Extract” that a specific code for CBD and products containing cannabinoid would be established. This move immediately triggered confusion and uncertainty in the hemp industry.

Now the Hemp Industries Association, along with other companies, have officially filled a petition for review of this change. The petitioners are seeking clear judicial answers to the possible implications of this type of change. While the DEA said this change was only to improve the internal tracking of CBD in medicinal research, many argue that the move classifies CBD as a Schedule 1 drug – which is a power that the DEA doesn’t have.

Read More:https://www.theweedblog.com/hia-challenges-dea-recent-cbd-code/


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Americans and Canadians Spent $53.3 Billion on Weed Last Year

Category: News | Posted on Thu, January, 19th 2017 by THCFinder

U.S. and Canadian weed consumers plopped down $53.3 billion for legal and illegal marijuana in 2016, according to a new report from Arcview Market Research. However, the vast majority of those transactions took place on the black market.

Still, this is more money than Americans spent at McDonald’s and Starbucks combined, according to QSR Magazine.

Arcview’s 22-page executive summary for the “State of Legal Marijuana Markets” estimated that the black market still accounts for 87 percent of marijuana sales, down 90 percent in 2015.

The North American legal weed market posted $6.9 billion in revenue in 2016 alone, a 30 percent increase from the year before—meaning that it’s growing as fast as broadband internet grew in the 2000s, according to the Pew Research Center.

But, still, it sounds like quite a bit of revenue is going into the illegal market.

Read More:http://hightimes.com/news/americans-and-canadians-spent-53-3-billion-on-weed-last-year/


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