Recreational Marijuana News

California marijuana tax hike puts future of legal market in spotlight amid worries over state industry’s viability

Flurries of meetings and negotiations have occurred behind the scenes in Sacramento since California announced a cannabis tax increase last month. The stakes surrounding these discussions – all aimed at lowering the marijuana industry’s tax burden – are nothing less than the survival of the state’s legal marijuana market, according to some industry watchers. Representatives from multiple […]

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Chart: First year of adult-use cannabis sales in Massachusetts doesn’t disappoint

Massachusetts’ recreational marijuana industry recorded nearly $400 million in its first full year of sales, a strong initial sum given the dearth of retail stores throughout the state. But the market has significant room for growth, which will come as regulators approve more applications and access to the legal market improves. From August through October, […]

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Hopeful L.A. cannabis market entrants bleed money as they wait again – this time for licensing audit

The Los Angeles marijuana market is enduring more licensing delays. This time, it’s for a government-ordered audit of the city’s cannabis regulators.  It means more uncertainty for marijuana firms. And, perhaps most excruciating, it means more money down the drain. That’s the ongoing narrative surrounding the L.A. marijuana market, where hundreds of entrepreneurs have waited […]

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Hundreds of California marijuana business licenses still suspended and likely going unused

Almost 4% of California’s state marijuana business permits remain suspended weeks after regulators put more than 400 in limbo for not participating in mandatory track-and-trace system training. The number of suspended permits has fallen – but remains sizable. As of Tuesday, 277 out of the 407 permits involved had not received reinstatement to “active” status, […]

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License revoked for California cannabis vape maker Kushy Punch after state seizes $21M worth of products

California cannabis regulators have revoked the business license of well-known vaporizer brand Kushy Punch after the company was raided last month and found to be operating from an unlicensed facility. After receiving a complaint about illegal cannabis activity at a location in Canoga Park, California regulators searched the unlicensed facility and seized nearly $21 million […]

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California marijuana taxes will increase New Year’s Day

After having avoided an increase in state taxes on legal marijuana, California officials changed course Thursday and announced MJ excise and cultivation taxes will go up effective Jan. 1. High state and local tax rates have been an industry problem that have made legal businesses less competitive with the illicit market: Unlicensed retailers can lure […]

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No one clear path around California marijuana industry’s major business woes, insiders lament

California’s cannabis industry continues to struggle with problems that remain much the same since early 2018 when the state transitioned to a legal market – and no clear solutions have yet emerged.  At a two-day marijuana industry conference in Long Beach, California, this past weekend, state regulators and industry insiders mingled to lament those familiar […]

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Major cannabis firm MedMen slashes more than 190 jobs, unloads assets to bolster bottom line

MedMen, a Los Angeles-based multistate marijuana operator, announced it is laying off more than 190 employees to shore up its bottom line, joining a growing list of cannabis companies shedding workers amid falling MJ stock prices and a dearth of outside funding. The cash-strapped, vertically integrated company also disclosed plans to scale back its store […]

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Massachusetts keeps cannabis vape ban, orders quarantine of products as regulators focus on suspect additive

Massachusetts regulators maintained a ban on the sale of cannabis oil vaporizers and devices after ordering marijuana retailers to quarantine the products on Tuesday, dealing a financial blow to MJ companies hoping for a speedy resumption of vape sales. In making its decision, the state Cannabis Control Commission (CCC) also focused on the need to test for vitamin […]

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