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MJBizDaily podcast: Marijuana firms pivot to virtual 4/20 events, New York adult-use cannabis appears stalled and more

Cannabis companies are hosting virtual 4/20 events amid COVID-19 concerns, instead of the usual monthlong parties and celebrations. Some of the other top headlines addressed in this week’s MJBizDaily podcast include: New York adult-use marijuana legalization appears stalled Colorado marijuana retailers get OK to resume in-store sales Los Angeles cannabis licensing audit finds flawed process, no […]

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IRS report foreshadows national uptick in cannabis audits but offers a big loophole, experts say

A new report from a branch of the U.S. Treasury Department confirms the Internal Revenue Service is preparing to launch an increase in marijuana industry audits nationwide, but it also offers a possible way for cannabis companies to dodge millions in federal taxes, according to industry experts. The report corroborates what cannabis industry tax and […]

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VIDEO: Coronavirus exacerbating cannabis credit crunch in California

John Schroyer, Marijuana Business Daily’s senior reporter based in California, spotlights in the video clip below how the coronavirus crisis has worsened what was already a tight funding climate in the cannabis industry. For more insights on the shifts in marijuana regulation and markets in California – including a discussion about how the novel coronavirus is impacting […]

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Medical cannabis businesses eye potential new markets in southern US

Medical marijuana legalization efforts are advancing through several states in the southern U.S., and if successful, they promise tens of millions of dollars of opportunities for cannabis entrepreneurs searching for markets that potentially offer lower costs and fewer barriers to entry. Marijuana businesses looking to launch in the region could benefit from: Lower real estate […]

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Recreational cannabis sales in three key markets still falling after initial coronavirus-related spike

Despite a couple of temporary sales spikes in recent weeks, adult-use cannabis sales in California, Colorado and Washington state are all suffering from the economic fallout surrounding the coronavirus pandemic. According to point-of-sale data provided by Seattle-based Headset, adult-use cannabis sales were less than those for the same day in 2019 for six consecutive days […]

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