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Downstream Effects: April 2023

Project CBD

In February 2023, Project CBD published a story about Curaleaf , the scandal-ridden, multistate and multinational company, which has achieved a leading position in the U.S. Recommended Readings The post Downstream Effects: April 2023 appeared first on Project CBD. Sponsored by CannaCraft, Inc., Sponsored by CannaCraft, Inc.,

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Illinois 2023 medical cannabis sales reach $3.24M

Illinois News Joint

The Illinois Department of Public Health (IDPH) recently released its December 2023 medical cannabis sales totals. for the third-highest monthly total in 2023, behind March’s $29,018,805.60 Total 2023 medical cannabis sales reached $324,792,664.73, which was the lowest yearly total since adult-use legalization. May: $27,461,289.64

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Illinois gives Second Notice for Industrial Hemp Act amendments

Illinois News Joint

The rulemaking provisions are meant to better define “academic research institutions that are eligible to participate in the industrial hemp program as institutions that offer agricultural programs or degrees; offer in-person programs at a physical location in Illinois; are Illinois non-profit entities; and conduct research on hemp.

Hemp 107
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Tax Practitioners’ Meeting includes Section 280E cannabis deduction

Illinois News Joint

The Illinois Department of Revenue (IDOR) today hosted the 2023 Tax Practitioners’ Meeting and PowerPoint presentation. 1, 2023, Cannabis industry businesses will be able to deduct business expenses that otherwise cannot be deducted federally pursuant to Section 280E of the Internal Revenue Code.

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Illinois medical cannabis sales total $26.6M

Illinois News Joint

The Illinois Department of Public Health (IDPH) today released its October 2023 medical cannabis sales totals of $26,244,555.82, the first uptick since March 2023. Total 2023 retail sales by licensed medical cannabis dispensaries have totaled $271,357,790.69. Monthly Totals for 2023: January: $27,621,022.42

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Illinois medical cannabis sales downward trend continues

Illinois News Joint

While Illinois’ adult-use cannabis market continues to set records, the monthly cannabis sales totals for Illinois’ Medical Cannabis Patient Program continues to decline. Total 2023 retail sales by licensed medical cannabis dispensaries totaled $245,113,258.87. Monthly Totals for 2023: January: $27,621,022.42 March: $29,018,805.60

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nuEra Cannabis becomes vertically integrated

Illinois News Joint

Ieso holds one of only 20 full-scale cultivation licenses in the state. As part of the acquisition process, nuEra has been working with the Ieso team to revamp cultivar selection, cultivation practices, and sales and marketing strategies at the facility since early 2023.