Montana proposal could give medical marijuana businesses a boost

Published

2 years ago

February 17, 2023

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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

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Ohio recreational marijuana market already showing signs of price contraction

Published

19 hours ago

January 30, 2025

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Products in Ohio’s recreational marijuana market are showing signs of price contraction only five months after sales began.

Adult-use sales for the market topped $242.2 million in 2024, meeting industry expectations for the potential of a market that launched on Aug. 6.

And while sales are growing, an analysis of weekly adult-use data from Ohio’s Division of Cannabis Control (DCC) shows the price per item/pound in almost all the categories slid with more than half the products experiencing double-digit declines.

Plant material, which accounts for 52% of recreational sales in Ohio, almost doubled since the market opened.

Ohio consumers bought 2,158 pounds of plant material in the first week of January 2025, up from 1,284 pounds in the week ending Aug. 10.

But declining

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Marijuana Business Daily

Why 2025 could be a banner year for cannabis investors

Published

3 days ago

January 28, 2025

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Tiby Erdely (Courtesy photo)

(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Cannabis capital markets have faced significant challenges over the past few years.

As investors who have been actively involved in the industry since 2019, we have had the privilege of experiencing every market cycle – from euphoric highs to sobering lows.

Despite these fluctuations, today’s market environment presents an unparalleled opportunity for discerning investors, thanks to unique deal structures, compelling valuations and the ability to identify and back exceptional management teams.

Challenges and opportunities

The marijuana industry’s struggles with access to capital have fundamentally reshaped the competitive landscape.

Over the past two years, funding sources have dried up, leaving many companies to adapt

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Massachusetts’ adult-use marijuana sales topped $1.6 billion in 2024

Published

6 days ago

January 24, 2025

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Marijuana retailers in Massachusetts recorded $1.65 billion in sales of adult-use products between Jan. 1, 2024, and Jan. 5, 2025.

That’s according to data from the state’s Cannabis Control Commission, which noted that recreational cannabis sales in December 2024 reached $140.2 million, the third-highest monthly total since Massachusetts legalized an adult-use market in November 2018.

Other top sales months were August 2024 ($147.6 million) and July 2024 ($142.8 million).

During the week ended Jan. 5, 2025, flower represented 40.5% of sales, vapes 19% and pre-rolls 12.6%, followed by edibles and concentrates.

In April, Massachusetts cannabis regulators announced that adult-use sales had surpassed $6 billion since the market launched.

According to the latest figures, recreational cannabis sales in Massachusetts now top $7.2 billion.

Despite

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