WeedLife News Network

It can be argued that the high taxes are well-intentioned, signaling support for an inclusive cannabis market.

Due to ongoing federal prohibition, America’s cannabis regulations remain fragmented by state. Until reform occurs, states will continue to set their program frameworks, including how it taxes the supply chain, with consumers feeling the brunt directly by taxes or indirectly by retailers up-charging to offset costs.

Depending on the state, a market’s tax rates could look similar to any other legal product, or the figure could balloon. Examples of the latter can be found in states like Washington (37% sales tax) and Oregon (17%), with several others charging around 15%. States with lower sales tax rates, like Illinois, charge 7%, but rates can swell when considering the various additional taxes applied to flower, infused goods and high potency products. When combined with local taxes, some Illinois citizens can pay over 40% tax on certain products.

The rates have some worried over allegations of greed, while others believe the taxes are part of a bid to create restorative justice. However, even those supporting justice measures worry that high taxes could steer customers away from the market altogether.

Which States Have The Highest Taxes?

The question is nuanced when analyzing the various potential tax layers applied to legal cannabis. A flat sales tax isn’t all that there is to consider. As Illinois demonstrates, what may seem like a 7% to 10% tax rate is just the ground floor of what could become sky high rates.

Over a year after the passage of Barbados’ Medicinal Cannabis Industry Act, the Caribbean island nation officially opened for business last month, January 2021.

The launch of the sector in the midst of the COVID-19 pandemic comes at an ideal time. The local Barbados economy, as well as the wider regional Caribbean economy have long been dependent on tourism for its ‘bread and butter’.  As a result, they are being hammered, and facing an economic crisis of major proportion.

Barbados Economy

The national debt of Barbados is now around US $6.35 billion. The International Monetary Fund, (IMF) noted that the prolonged COVID-19 pandemic continues to have a major impact on Barbados’ economy.

From Papaya Punch to Sour Diesel Lemon Kush, there is something unique and tasty about all these amazing cannabis varieties. All of them have seriously awesome flavor profiles and are light, fluffy, and downright delicious. Plus they offer some powerful body and head highs and look just as good as they taste. Without further ado, here are some of the strains that not only have memorable effects and overall profiles, they taste great, too. 

1. Sour Diesel Lemon Kush

Diesel is one of the strongest, most flavorful strains out there, but some complain that it’s a bit heady and strong to smoke. The pairing of sour Diesel and Lemon Kush is delightful, as it partners up the strong, heady energy of Sour Diesel with the soft, light, citrus taste of Lemon Kush for a strain that is truly unique. Try it in a bong or bowl, or even infused into cooking oil or butter. Available from Caliva. 

2. GSC

Girl Scout Cookies is everyone’s favorite strain, and there’s a good reason. It’s a hybrid, but indica-leaning. Durban Poison on its own is powerful, sometimes too powerful, and OG Kush is almost too chill. Together, as Girl Scout Cookies, the strain is downright relaxing and euphoric. The sweet taste and high THC count is the icing on the cake—or in this case, the cookies. 

With each state’s laws varying to some degree, medical cardholders and applicants are advised to review state and local regulations.

State medical marijuana programs tend to suffer as adult use laws are passed. While much of the purchasing shifts to what is commonly called the recreational market, the medical sector still serves its purpose. In fact, medical cardholders can continue to find benefits in being part of the program, depending on a state’s laws.

Considering the following benefits, patients may find use in the medical cards well after adult use laws pass in a state.

Priority Over Adult Use

Photos: JDawnInk/Getty Images, Matthew Brodeur via Unsplash

Having a medical marijuana license may also provide a patient with increased priority.

There is so much promise for the cannabis industry, but so much zigging and zagging in search of sustainable profitability.

From the minute that Joe Biden took the oath of office, a new leader perceived to be a cannabis industry supporter, the cannabis industry has seemed ripe for an investor explosion. There has been money on the sidelines waiting for this sort of green light. Now it’s signaling “go.”

Cannabis concentrates are perhaps the trickiest form you may come across. They are highly potent, and the consumption techniques are also complicated, whether you choose to smoke, vape, or dab. Still, using the right gear can make things a lot simpler for beginners, and you get better with practice and experience. The choice of equipment depends on several factors, so you need to consider them while taking your pick. Here are some helpful tips that you can follow while choosing the right gear for using concentrates.

Size and convenience 

You will want to choose your concentrate gear according to your skill level. For a beginner, the simplest is the best because it will be easy to handle and use. Handling the potency and managing dosages for cannabis concentrates may be hard enough for you. So you will want only the gear that is easy to use. Size also matters because larger pieces can be difficult to operate. Thankfully, there are lots of choices in bongs and bubblers, from large, table-top pieces to small, handheld ones.

Method of consumption

The next factor to consider is the method of consumption and the form of concentrate. When it comes to types of concentrates, you come across a lot, from wax to shatter, resin, rosin, oil, hash, and more. Consumption methods also vary, depending on your preference, and the equipment you use will differ accordingly. For beginners who want to learn how to smoke resin, a bowl gives you a good start. You can graduate to a bong or bubbler as you learn the ropes. Similarly, you will need a vaporizer for vaping a concentrate and a dab rig for dabbing it.  

On February 5th, state lawmakers voted to legalize cannabis in Virginia and establish a recreational market. Both chambers’ initiative would legalize possession of an ounce of marijuana or less, and begin the process of expunging certain cannabis-related misdemeanors on July 1st. Retail sales are predicted to start in 2024, per the plans of both the House and Senate.  

Virginia already has a medical marijuana program, but it’s limited compared to most states. Even so, the medical program is expected to be valued at $50 million in sales by 2024, and the adult-use market is poised to grow even bigger. 

Here’s what you need to know about the newly introduced adult-use legislation in Virginia: 

The vote passed through the Virginia General Assembly on February 5th 

Both chambers passed the bill to legalize cannabis for adult use at the beginning of February. The bill was introduced by Senator Adam Ebbin, who said “I think that Virginia is on a path to an equitable legalization plan for marijuana. There have been a few bumps, but I’m hopeful that we’ll have a polished bill we can agree upon in the next few weeks,” said Sen. Adam Ebbin.

The House passed the bill 55-42 

House Democrats were in favor of the bill, while Republicans were opposing it. The House’s version of the bill would maintain all cannabis criminal penalties until January 1st, 2024, when the first adult-use retail sale is set to take place. 

Ohio is now taking written comments on the qualifying conditions it is thinking of adding to the medical cannabis program. 

Through February 26, residents of Ohio will have a chance to comment on conditions including autism, Huntington’s disease, panic disorder with agoraphobia, restless leg syndrome, spasticity and spasms, and terminal illness.

These public comments will be reviewed by the Medical Marijuana Committee, who is currently reviewing 30 different potential conditions that have been suggested.

More than 30 qualifying conditions were suggested to the committee, but many were rejected, either because they are already allowed, petitions were incomplete, or there was not enough evidence listed from professional studies showing cannabis could help with the condition. 

The Medical Marijuana Committee will be reviewing these comments on March 8, looking more deeply into the qualifying conditions they have decided to consider. They will then vote on the next six conditions that will be approved. 

Jeanette Miller says she’s one of hundreds of farmers who were encouraged to devote acreage to an up-and-coming crop that held promise, but is now watching it all slip away.

Miller, who operates Eclectic Farmstead in Newfane in western New York, said farmers spent upward of $50,000 to cover costs associated with growing hemp and were waiting for the research phase to end so they could sell their products, which include drinks, soaps and lotions.

“We were supposed to be released from being research partners and be able to sell our products,” said Miller, who also serves as vice president of the Niagara County Farm Bureau. “But instead of that happening, (New York state) came out with the Hemp Extract Regulation.”

It wasn’t too long ago that if you asked somebody what CBD was, they would look at you with a puzzled expression on their face. Today, CBD is on everyone’s lips, dominating the conversation on medical cannabis and its therapeutic effects and being touted as a health supplement at nutrition stores. It can also be purchased online and found in department stores, drug stores, grocery stores, gas stations and, of course, dispensaries.

With CBD’s popularity comes a learning curve for the discerning consumer. In order to find the best product for their needs, consumers need to know the terminology around CBD products.

First, What Is CBD?

CBD, or cannabidiol, is a non-euphoric cannabinoid found in both hemp and high-THC cannabis. Cannabinoids are a closely related group of chemical compounds, which work synergistically together and with the other chemical compounds that make up the cannabis plant. CBD can be used for symptom management for things such as anxiety, certain types of seizures, inflammation and pain. It also has been found to have value in cosmetic use.

It’s worth noting that much CBD on the market today is derived from hemp, rather than cannabis, because hemp is federally legal. Hemp and cannabis are the same species, cannabis sativa, but they’re separated by an arbitrary legal definition that defines hemp as having less than 0.3% THC when tested.

Understanding CBD

Many people like to say CBD is not psychoactive, but that would be incorrect. “Psychoactive” is a term used to describe a substance that changes a mental state by affecting the brain and nervous system. Though CBD will not cause euphoria or intoxication, it may change a person’s level of anxiety or depression, which in turn would affect their perception of the world around them.

In 2020, Norman’s medical marijuana industry quickly proved to be an emerging market.

The marijuana industry locally and statewide more than doubled its revenue compared to 2019, as the state’s new industry grew to one of the biggest marijuana markets in the country. While some attribute the industry’s success to the COVID-19 pandemic, others suggest medical marijuana would’ve seen continual growth in 2020 regardless.

Below is a summary of the industry’s growth in 2020 in Norman and statewide, its impact on local residents and what experts expect for medical marijuana in 2021.

Local revenue increase

Norman’s industry saw a boom in sales throughout much of 2020, particularly in the summer months.

According to data from the Oklahoma Tax Commission, Norman dispensaries produced $33.6 million in total revenue in 2020, doubling the $16.1 million dispensaries put out in 2019. Norman dispensaries also remitted more than $2.9 million in city and state sales tax in 2020.

A total ban on smokable hemp products makes little sense. The state has time to think this through and come up with a better solution.

A few weeks back, I wrote a post entitled “California Tries Again with CBD“, in which I discussed a new piece of legislation (AB-45) introduced to ostensibly provide a regulatory framework for the manufacture and sale of certain hemp-derived products. Those products include foods or beverages that contain cannabidiol (CBD). In that post, I mentioned that provisions in AB-45 contain bans on smokable hemp products, and in this post I’d like to jump a little further into this provision and whether it has any chance of becoming law.

Currently, AB-45 provides in part:

Unless explicitly approved by the federal Food and Drug Administration, industrial hemp shall not be included in products in any of the following categories:

. . .

Cannabis advocates have long called for allowing people to treat pain with marijuana rather than opioids. A new study shows that this is exactly what happens when you give people the freedom to choose between the two.

The study, published in The British Medical Association Journal, found that in United States counties, medical or recreational cannabis is available for purchase, the number of opioid-related deaths declined.

While the declines occurred with all types of opioids, including prescription painkillers, they found a profound decrease in deaths associated with synthetic opioids. 

“While the associations documented cannot be assumed to be causal, they suggest a potential association between increased prevalence of medical and recreational cannabis dispensaries and reduced opioid-related mortality rates,” the researchers wrote. “This study highlights the importance of considering the complex supply side of related drug markets and how this shapes opioid use and misuse.”

What the research shows

University of California-Davis professor Greta Hsu and Yale University professor Balázs Kovács worked together on the study. The pair looked at data from 812 counties in 23 states where the law allowed legal cannabis sales.

A House legislative committee on Monday debated two bills legalizing cannabis for recreational use in New Mexico, ultimately sending one along to the House Taxation Revenue Committee and tabling the other. 

HB 12 and HB 17 both would have legalized cannabis for recreational use in New Mexico while taking different approaches to licensing and regulation. The bills were compared and debated at length in hearings on Saturday and Monday. 

Democratic state Reps. Tara Lujan of Santa Fe and Roger Montoya of Velarde cosponsored the latter bill, which was tabled on a 7-4 vote, effectively killing it, though committee members encouraged them to offer amendments incorporating aspects of their bill into HB 12. 

The version of the Cannabis Regulation Act that emerged from the committee provides a plan for regulating production, distribution and sales of cannabis to adults ages 21 and older through a new Cannabis Control Division at the state Regulation and Licensing Department. 

It would also permit home growing with no plant count limit, and cannabis licenses — unlike New Mexico liquor licenses — would not be limited in number, could not be bought and sold and would require annual renewal. 

More than 18,000 workers are employed in Michigan’s marijuana industry, nearly double the number of cannabis jobs in the state a year ago, according to a new cannabis industry jobs report.

“There are now more cannabis workers than cops in Michigan,” said the fifth annual Leafly jobs report, released Tuesday. “In a state known for its auto industry, the number of cannabis workers is now roughly equal to the number of auto repair mechanics.”

Leafly, a Seattle-based marijuana media organization, uses available revenue and labor figures from licensing records to compile the annual report.

The best thing to do is to start with the basics. Gradually, you can move to more complex gear if you want to take your experience to the next level.

Concentrates are perhaps the trickiest form of cannabis you may come across. They are highly potent, and the consumption techniques are also complicated, whether you choose to smoke, vape, or dab. Still, using the right gear can make things a lot simpler for beginners, and you get better with practice and experience. The choice of equipment depends on several factors, which you need to consider when making your decision. Here are some helpful tips that you can follow while choosing the right gear for using concentrates.

Size and convenience

You will want to choose your concentrate gear according to your skill level. For a beginner, the simplest is the best because it will be easy to handle and use. Handling the potency and managing dosages for cannabis concentrates may be challenging enough for you, so you’ll want gear that is easy to use. Size also matters because larger pieces can be difficult to operate. Thankfully, there are lots of choices in bongs and bubblers, from large, table-top pieces to small, handheld ones.

Photo by Bill Oxford/Getty Images

Method of consumption

The next factor to consider is the method of consumption and the form of concentrate. When it comes to types of concentrates, there are many, from wax to shatter, resin, rosin, oil, hash, and more. Consumption methods also vary depending on your preference, and the equipment you use will differ accordingly.Alzheimer's Disease And Marijuana: What You Need To Know

By building a positive presence on social media, stock traders may unwittingly become attracted to a company.

Can a social media profile improve a company’s stock performance? The market saw what happened on Reddit boards with GameStop stock as traders chatted with each other about shorting the stock. Could a company that is active on social media, without any specific call to action regarding the stock, influence the interest in the company’s stock?

“If investors are looking to determine the popularity of a company or demand for its product, they can analyze the brand’s social media. If they see great engagement on posts, high account following, or virality, high re-share of a brand’s content, they may make an assumption that this company will be even a greater hit with consumers in the future,” said mega influencer Amra Beganovich.

“Investors can use software to track social media performance and reveal organic growth giving them greater confidence to invest in an expanding brand visibility and product popularity.” Beganovich has built from scratch over two million followers on social and is one of the founders of A&E, a digital agency ranking #1 on Google for competitive keywords like “top 100 tech influencers.”

Awesomepova recently issued a social media traction report that specifically looked at cannabis companies. Four companies were listed as top performers in December and they were Trulieve (OTC:TCNNF), Canopy Growth (NASDAQ: CGC), Charlotte’s Web (OTC: CWBHF) and cbdMD (NYSE: YCBD). Two companies were listed as having an honorable mention and they were Aurora Cannabis (NYSE: ACB) and Harvest Health & Recreation (OTC: HRVSF).

As a dispensary builder, one of the most common questions we’re asked is: How much does it cost to build a cannabis dispensary? We usually answer that question with about 20 questions of our own, because no two cannabis retail stores are the same.

Even when we build dispensaries for national companies that specify the same design and finishes, we face unique circumstances in each state that affect overall project costs. Ultimately, that cost can range anywhere from $350,000 to $3.5 million.