Montana proposal could give medical marijuana businesses a boost

Published

2 years ago

February 17, 2023

admin

A Republican lawmaker in Montana is seeking to eliminate sales taxes on medical marijuana, a move that could breathe life into the state’s struggling MMJ market.

The dwindling number of MMJ patients in Montana currently pay a 4% state sales tax as well as a 3% local tax in certain jurisdictions.

But both would be eliminated if House Bill 420 becomes law.

The measure was introduced Wednesday by state Rep. Mike Hopkins, a Missoula Republican.

Hopkins wants to cut the MMJ tax because adult-use cannabis sales generate adequate tax revenue, the Helena Independent Record reported,

Montana recorded $48.5 million in adult-use tax revenue on $230 million worth of sales since the legal market launched in January 2022.

The state levies a 20% excise tax on adult-use sales, and localities may add an additional 3% tax.

In the year since adult-use

Read full article on Marijuana Business Daily

Source link

Cannabis operators report Instagram page ‘shadow bans’ and closures

Published

4 days ago

December 23, 2024

admin

Despite growing acceptance of cannabis, many state-regulated marijuana businesses say their social media pages are being hidden, engagement is being throttled and – in some cases – accounts are being shut down.

Because most states restrict marijuana ads from television, radio and print media, licensed operators have turned to social media platforms such as Instagram, owned by Meta, to spread their messages.

“Meta updated its terms and conditions about two weeks ago,” said John Greene, co-owner of Rhode Island cannabis cultivator CMS Gardens.

“As soon as that email was sent to Meta users, thousands of accounts that were related to cannabis started going down.”

Green described Meta’s previous guidelines as “more relaxed” until the update.

Meta did not respond to MJBizDaily requests for comment.

Read full article on Marijuana Business Daily

Source link

Marijuana Business Daily

Cannabis operators share tips for licensing brands

Published

1 week ago

December 19, 2024

admin

As more states adopt regulated marijuana programs, executives at licensed cannabis brands are seeking innovative ways to reach new markets.

Brand licensing, revenue-sharing, profit-sharing and franchising all are ways to circumvent restrictions on interstate commerce, said Avis Bulbulyan, CEO of California-based cannabis consulting firm Siva.

“It’s all really licensing, it’s just how you go about it,” Bulbulyan told MJBizDaily.

“There are 50 different ways to split the fees.”

Under licensing arrangements, which tend to be rigid, licensees typically pay for the right to use – not own – a brand’s product or intellectual property.

Licensing often includes an upfront fee, and the licensee assumes most of the financial risk because they must pay the brand regardless of revenue performance.

However, some brands are

Read full article on Marijuana Business Daily

Source link

Marijuana Business Daily

Ohio adult-use program was only new marijuana market launch in 2024

Published

1 week ago

December 17, 2024

admin

2024 will go down as one of the quietest years for marijuana market launches.

The debut of Ohio’s adult-use retail market on Aug. 6 is the lone standout, in contrast to perennial market expansion that’s been a bedrock of the industry for more than a decade.

Last year, by comparison, three states in the Northeast and Midwest launched recreational marijuana sales, while two in the Deep South began medical cannabis sales.

This year, Ohio became the 21st U.S. state to establish adult-use sales, following Maryland’s launch in July 2023 and Missouri’s debut in February 2023.

The gap of nearly one year between recreational market launches is believed to be the industry’s longest drought since the first wave of regulated, adult-use consumer access began in 2014.

“Insufficient funding for

Read full article on Marijuana Business Daily

Source link