California’s marijuana tax solution
Banks don’t want to work with cannabis businesses, and tax season will be here before you know it. The California State Treasurer’s Office doesn’t want to deal with duffel bags stuffed with cash, so a working group has been brainstorming solutions. One potential fix? Using armored cars to transport the hundreds of millions of dollars the state expects raking in with marijuana taxes. That’s one way to do it.
Faulty CBD labeling
Many people rely on Cannabidiol, or CBD, for its many therapeutic uses. This makes the results of a newly published study particularly worrisome. Researchers purchased 84 commercially available CBD products and had them chemically analyzed. They found that only 31 percent of the products tested contained the exact amount of CBD shown on the label. Read more about this study here.
New Jersey makes way for cannabis
Chris Christie is the current Governor of New Jersey. As you may have heard, he despises marijuana, even referring to it as “poison.” Good thing Phil Murphy, a recreational cannabis supporter, won the governor’s race on Tuesday. When Murphy takes office in January, many think it won’t be long until he signs a legalization bill until law. Nice.
California pot prices expected to skyrocket
Legal recreational marijuana is on the horizon in California. When recreational sales begin in 2018, additional taxes will cause the price of cannabis to increase significantly. We’re talking upwards of 50 percent. Fellow Californians, now is the time to stock up.
Maine’s marijuana veto
Paul LePage, Governor of Maine, decided to veto his state’s recreational cannabis bill. Keep in mind that Mainers voted to legalize and tax recreational marijuana, and LePage promised he wouldn’t stand in the way. Learn more about this mess here.