Marijuana Business News

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stocks
business
Mon
29
Jun

Your NJ medical marijuana is about to get cheaper: Here’s why

The New Jersey sales tax on medical marijuana will be cut to 4% on July 1, down from 6.625%, the first step in a three-year plan to phase out state taxes on medicinal cannabis purchases.

On July 1, 2021, the state sales tax will be reduced even more — to 2%. In 2022, it will be completely erased.

That doesn’t mean medical weed will be completely tax-free: Municipalities are still permitted to levy a 2% “transfer tax” on purchases within their borders, though no town has instituted such a tax yet.

The sales tax phaseout was a key part of last year’s Jake Honig Compassionate Use Medical Cannabis Act, which also legalized medical marijuana edibles, raised the monthly allowance to 3 ounces per patient and required them to re-certify just once a year.

Mon
29
Jun

Arizona Medical Marijuana Sales Hit a New Record High in May

Arizonans coping with the pandemic are buying more medical marijuana than ever before, with sales hitting a monthly program record again in May.

The latest report on the state-run weed program shows that dispensaries sold more than 18,083 pounds of total cannabis products last month. That's an increase of 5.8 percent over the previous record from March, when patients bought 17,095 pounds as the coronavirus pandemic set off a buying spree. May's total sales also represent a blistering 31.3 percent increase over sales in May 2019.

Mon
29
Jun

Are Cannabis Stocks Recession-Proof?

Cannabis stocks are in for their first big test -- a recession. In the early stages of the COVID-19 pandemic, things were looking good for the cannabis industry as people were stockpiling essentials, including pot.

But let's take a look at how the industry's done since then and whether investing in pot stocks can be a safe way to protect your portfolio during a recession.

Mon
29
Jun

The Top Marijuana Stock to Buy for the Second Half of 2020

Believe it or not, we're nearly halfway through 2020. It's been a rough year so far for many marijuana stocks, although a few have fared much better than others.

I expect that the overall cannabis industry will gain some momentum over the next six months. If I'm right, that should be good news for the stocks of leading cannabis companies. But what's the top marijuana stock to buy for the second half of 2020? My view is that there's a really strong argument for Innovative Industrial Properties (NYSE:IIPR).

Fri
26
Jun

Are These Marijuana Stocks Worth The Investment?

Can These Pot Stocks Show Value In The Coming Months?

Fri
26
Jun

In Navigating New Normal, Hemp Farmers Find Support Despite COVID-19 Challenges

Planting season has arrived in the U.S., and hemp farmers are starting to plant their seeds for the 2020 growing season. Despite some hemp farmers being apprehensive about the 2020 grow season, most farmers remain enthusiastic and steadfast in their operations. 

Hemp was a wildly popular crop in 2019 as many farmers looked to grab their piece of the green rush caused by hemp’s full legalization in the 2018 Farm Bill. 

The demand for hemp is only going to continue to skyrocket.  

Fri
26
Jun

Hemp Futures: a growing hemp producer in Estonia

Stephen J Wyatt, founder and CEO of Hemp Futures, based in Estonia, tells MCN about the importance of customer engagement and accountability.

Estonia-based CBD producer Hemp Futures was founded in 2019 with the goal of creating ‘clean, green and organic’ products; and operates across more than 68 hectares of certified organic land.

“Estonia is a hidden jewel,” explains Hemp Futures founder and CEO Stephen J Wyatt, a former US Marine. “The environment is very pristine; the water is good; the soil is organic. We’re lucky in that we don’t have a lot of native pest insects, which means we don’t need many pesticides for growing hemp.”

Thu
25
Jun

Bill To License Hemp Farmers, Sellers Passes Georgia Senate

Hemp farmers and sellers would need a license to possess the non-psychoactive cousin of marijuana under legislation that passed the General Assembly on Monday.

House Bill 847 requires anyone cultivating, transporting or selling hemp to hold a license just like for other agricultural products. Anyone caught with hemp who does not have a proper license would face the same penalties as for marijuana possession in Georgia.

The bill, sponsored by Rep. John Corbett, R-Lake Park, follows passage last year of a measure that legalized the growing, processing and transport of hemp. It cleared the state Senate on Monday by a 34-13 vote with several Democratic lawmakers voting against it.

The hemp measure now heads to Gov. Brian Kemp’s desk for his signature.

Thu
25
Jun

Tips For Cannabis Entrepreneurs Navigating The Rules Of Instagram

We’ve all seen social media accounts get shut down left and right in the cannabis industry, especially on Instagram. It’s been happening for years, and brands are often left frustrated and scrambling to appeal or get a new account up quickly.

When your Instagram account is taken down, the first thing you need to do is file an appeal. If you haven’t broken any of the community standards, you should get it back fairly quickly.

Thu
25
Jun

L.A. Considers Social Equity Overhaul for Cannabis Industry

After a lot of community blowback about not being inclusive enough and a failed attempt at social equity last year, The Los Angeles City Council may adopt new cannabis licensing and social equity plans that would overhaul the existing licensing system. 

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