Connect with us

Marijuana Business Daily

Canadian government’s cannabis duty surpasses CA$1 billion since 2018

Published

on


The Canadian federal government has assessed more than 1 billion Canadian dollars ($740 million) in total duty on cannabis products since they were legalized for recreational use in 2018, according to federal data.

The milestone comes as executives hope the government offers relief on the fee and excise regime it imposes on the industry amid mounting job and financial loses.

ADVERTISEMENT

According to the Canada Revenue Agency (CRA), the federal government assessed approximately CA$862.3 million in total duty on cannabis products between the 2018-19 and 2020-21 fiscal years, most of which has been shared with provinces and territories.

The CRA has yet to publish comparable figures for the 2021-22 financial year.

But the most recent public accounts, which details the government’s expenses and revenues, shows the federal government received revenue from the cannabis levy worth CA$160.2 million that year, bringing total duty since 2018 to a minimum

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Florida marijuana licenses overdue as adult-use vote looms

Published

on

By


By law, the Florida marijuana industry – the largest medical-only cannabis market in the country with $2 billion in projected annual sales – is supposed to have nearly twice as many businesses involved as are operating today.

But with state voters set to decide on adult-use marijuana legalization in November, potentially inflating the value of coveted vertically integrated business licenses, the mandated expansion of Florida’s market remains on indefinite hold.

ADVERTISEMENT

The state accepted applications for 22 available permits in April 2023.

More than a year later, there’s no clear answer from state officials as to when those new licenses will be issued.

“There is literally nothing coming back to applicants. Nothing,” Dustin Robinson, a Fort Lauderdale-based attorney who filed one of the 73

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

Marijuana lab testing accuracy improving, study in new science journal finds

Published

on

By


Marijuana testing labs’ ability to detect pesticides on plant material improved over the course of a four-year study.

The study, shared exclusively with MJBizDaily and reMind in conjunction with the launch of the Cannabis and Psychedelic Science Journal (CAPS Journal), analyzed nearly 350 pesticide test results collected from accredited testing labs between 2019 and 2023.

ADVERTISEMENT

The number of tests found to accurately measure pyrethrin and pyrethroid compounds – common insecticides that are part of some states’ mandated third-party marijuana testing regimen – improved from 89% in spring 2019 to an overall average of 94% across all eight data points.

“The ability of ATLs (analytical testing laboratories) in the cannabis industry to detect and quantify pesticides has improved over a four-year period,” according to

Read full article on Marijuana Business Daily



Source link

Continue Reading

Marijuana Business Daily

New York court issues record $15 million fine to unlicensed cannabis operator

Published

on

By


A New York court has ordered David Tulley to pay a $15.2 million fine for operating six unlicensed cannabis stores in Cayuga, Oswego and Wayne counties, the largest penalty levied in a multiagency effort to curb illicit operations statewide.

Tulley, the owner of the I’m Stuck stores and two additional unlicensed shops in Monroe County, had been operating without a license since early 2022, according to a news release.

ADVERTISEMENT

Despite receiving cease-and-desist letters from the Office of Cannabis Management (OCM) and notices of violations, he continued to operate his stores, describing them as “consulting” businesses, state regulators said.

In response to Tulley defying the cease-and-desist order, the OCM inspected his stores in June and July 2023 and seized an undisclosed amount of

Read full article on Marijuana Business Daily



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media