By Tony C. Dreibus Canadian officials must craft rules on infused products quickly to ensure patients buy from federally licensed cannabis companies instead of illegal dispensaries or the black market, industry experts said. The Supreme Court of Canada last week struck down a provision in the country’s medical marijuana law that restricted cannabis production,
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Chart of the Week: IRS Audit Rate for Existing Marijuana Businesses
By Becky Olson More than 6% of operational cannabis companies surveyed by Marijuana Business Daily said they have been audited by the Internal Revenue Service, which suggests that the industry faces more scrutiny on the tax front than other sectors. Testing labs reported the highest rate, with roughly 13% saying they have been audited, followed […]
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Controversy Over Minnesota MMJ Company’s New Hire
A Minnesota health department official who played a key role in the state’s medical marijuana licensing process will take the reins of one of the companies that received a permit, leading to concerns over whether the move is ethical. Manny Munson-Regala (pictured), an assistant commissioner at the Minnesota Department of Health, was named chief executive […]
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Jimi Hendrix Marijuana Product Line in Works
Yet another celebrity’s name could soon be tacked onto a line of marijuana products. Toronto-based Nutritional High intends to manufacture marijuana and hemp-based edibles – including hard candies and health and energy drinks – bearing the name of legendary rock guitarist Jimi Hendrix, according to a report by CNNMoney. But the business plan could hit a […]
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Canadian Supreme Court: MMJ Edibles, Extracts Legal
After a six-year court battle, the Canadian Supreme Court came down on Thursday in favor of medical marijuana in all its forms, effectively legalizing edibles and extracts for patients. The move could potentially open up new business opportunities, though whether companies will be able to produce and sell infused products is unclear. Previously, patients could […]
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Prominent Edibles Company’s Expansion Highlights Evolution of Cannabis Industry
By John Schroyer One of the largest and most prominent infused products manufacturers in the cannabis industry is expanding beyond its home base of Colorado, becoming the latest marijuana company to serve multiple states. Denver-based Dixie Brands will enter California – the biggest medical marijuana market in the country – on July 1, when its […]
Read MoreInsurance Giant’s Exit From Cannabis Market Could Trigger Shakeup, Higher Rates
By Tony C. Dreibus A decision late last month by Lloyd’s of London to exit the cannabis industry may change the dynamics of the marijuana insurance market and usher in higher rates for cultivators, processors, retailers and ancillary companies. The move by the 327-year-old company, which has offered policies to the marijuana
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Illinois group: Women have prime opportunity in marijuana industry
A group of Illinois women believe female entrepreneurs have a good chance of succeeding in the cannabis space because they’re not hindered by the old-boy networks that dominate other industries. Dina Rollman, a Chicago attorney and co-founder of Illinois Women in Cannabis, told the Chicago Sun-Times women aren’t “playing catchup” to men in the marijuana […]
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Louisiana Close to Legalizing Medical Marijuana, With Big Unknowns
Louisiana appears poised to legalize some form of medical marijuana sales, but it’s unclear what potency levels the state would permit, and advocates say the entire program could prove to be unworkable. A bill that would allow the sale of non-smokeable forms of cannabis through up to 10 dispensaries statewide sailed through the state House […]
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Colorado Rec Industry to Benefit From Marijuana ‘Tax Holiday’
Colorado will have a special “tax holiday” on Sept. 16 where cannabis consumers won’t have to pay the state’s 10% tax on recreational marijuana, which could lead to a spike in business rivaling traditional cannabis events such as 4/20 or Black Friday. The move stems from an obscure provision in the state’s laws and likely […]
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Strict Testing Limits May Leave Massachusetts Dispensaries Without Cannabis Flower
By Tony C. Dreibus The first dispensary in Massachusetts may not have any marijuana to sell when it opens – at least not in flower form. Alternative Therapies Group is hoping to start serving patients in the next two weeks, but it might only be able to sell edibles and concentrates at first because of […]
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The Emergence of High-CBD Edibles: Q&A With Sweet Seed Farms’ Gideon Murray
By John Schroyer Gideon Murray spent time as an investment banker, a business development executive, a real estate investor and an English teacher before becoming the chief executive officer of a medical marijuana dispensary in Colorado. Now, he’s getting into the edibles business. Murray is seeking investment capital for
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The pandemic pivot and how cannabis companies reacted to COVID-19.