A rebate program that encouraged indoor growers to switch to LED lights proved so popular that Xcel Energy ran out of money to pay for it.
Margaret Jackson
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CPAs offer 280E guidance to Treasury, IRS ahead of marijuana rescheduling
In a letter to the U.S. Department of Treasury and the IRS, the American Institute of CPAs is trying to provide guidance aimed at cannabis businesses and tax professionals ahead of potential marijuana rescheduling.
Delaware awards first adult-use permits for marijuana cultivation, manufacturing
Delaware on Thursday awarded the state’s first adult-use marijuana licenses to cultivators and manufacturers via a lottery.
Chicago Atlantic closes on $50 million loan to fund new marijuana investments
Specialty marijuana finance company Chicago Atlantic Real Estate Finance closed on a $50 million loan to fund future investments and other corporate purposes.
Oregon outdoor cannabis cultivators call 2024 harvest ‘a huge improvement’
Oregon’s sun-grown cannabis cultivators are experiencing one of the best harvests they’ve had in recent memory.
Minnesota recreational marijuana market on target for 2025 launch, regulator says
Minnesota’s recreational marijuana market is on track to launch in 2025, even as some potential businesses say they’re concerned that the process is taking too long.
Cannabis operator Canopy Growth reduces loan term by $100 million
Canadian cannabis operator Canopy Growth Corp. made an early payment to reduce a loan term by $100 million (roughly 138.5 million Canadian dollars).
Illinois adult-use marijuana sales drop 2% in September to $136.5 million
Adult-use marijuana sales in Illinois were down a little more than 2% in September compared to the same month last year, even though businesses sold more than $1 billion worth of marijuana faster than they have in previous years.
New Delaware law protects banks that work with state’s marijuana businesses
Financial institutions that serve licensed marijuana businesses in Delaware will be protected from state-level prosecution under a bill that the governor recently signed into law.
Cannabis sales in Ontario, Canada, rise 21% in first half of year
Cannabis sales in Ontario, Canada, surged during the first half of the year, with licensed retailers selling 21% more marijuana by volume than they did during the same period last year.
New York City program offers loans to cannabis social equity retailers
New York City has launched a low-interest loan program designed to provide affordable capital to licensed cannabis social equity retailers.
Connecticut’s cannabis sales decline 12% in September
Total cannabis sales in Connecticut dropped 12% in September, according to recently released data.
