This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Illinois officials recently released the Annual Cannabis Report for Fiscal Year 2024. IDOA updates and initiatives for FY2024 include: State cannabis testing laboratory is projected to become operational prior to the end of calendar year 2024. Hemp Rules on second notice to be approved by end of 2024.
The Decline of Medical Marijuana in Massachusetts: What It Means for Patients In recent years, Massachusetts, once a pioneer in cannabis reform, has seen its medical marijuana program gradually overshadowed by the booming recreational market. The program aimed to provide safe, legal access to cannabis for patients with chronic conditions.
Ayr President George DeNardo said Thursday during the companys fourth-quarter and full-year 2024 earnings call that Ayr will prioritize other markets to make sure it can deliver for its other business and stated that the company doesnt have the necessary scale in Illinois to compete over the long term, Green Market Report reported.
12, 2024, meeting in Springfield. percent THC the cultivator may remediate the lot by shredding, blending, or sorting the plant material in a manner that reduces the THC concentration to an acceptable level, and then have it retested. These rulemakings will be considered at the Nov. Samples that test higher than 0.3
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. NuEra closed on the acquisition of the Illinois brand Ieso.
Total retail sales for 2024 reached $99,749,327.83. Total 2024 wholesale sales by cultivation centers reached $129,966,963.40, and total wholesale sales since November 2015 by cultivation centers totaled $3,507,427,930.76. Monthly Totals for 2024: January: $24,338,551.30 February: $24,427,904.62 March: $25,917,010.11
The new rulemaking affects academic, government, and commercial institutions that participate in the industrial hemp program. percent THC the cultivator may remediate the lot by shredding, blending, or sorting the plant material in a manner that reduces the THC concentration to an acceptable level, and then have it retested.
In January, a bill was introduced regarding Iowas medical cannabis program, allowing vaporized cannabis to be added to the state-approved Tetrahydrocannabinol ( THC) products list. Iowas medical cannabis program is one of the most limited throughout the country. This bill was advanced out of a House subcommittee.
Florida-based cannabis giant Trulieve recently doubled its contribution to the Smart & Safe Florida political committee with another $5 million toward a 2024 ballot initiative to legalize adult-use cannabis. 1, 2024, with election officials needing 30 days to check signatures before that deadline. 23 to circulate the petition.
December 2022, I published a 6-part series titled, “What Illinois cannabis patients really want” to start a dialogue about the large gap between patients’ needs, wishes, concerns, and recommendation for improving the Medical Cannabis Patient Program (MCPP) and the actual amendments to the law legislators have introduced.
Happy 2024 – let’s start the year off with a shout-out to Colorado, where the retail market is celebrating an anniversary. There’s an update on Alabama’s medical cannabis licensing program (meet the new year; same as the old year). The DEA is conducting a review of cannabis scheduling. million in taxes and fees.
The retail store opened May 3, 2024, and serves recreational consumers. Along with offering a rewards program (using points to take money off purchases), Cookies Pontoon Beach is a member of the Collinsville Chamber of Commerce and contributes to Collinsville Charities for Children. Hours of operation are 9 a.m.-9 seven days a week.
It prohibits cannabis possession, use, purchase, sale, or cultivation, whether for recreation or medical purposes. Further, after several failed attempts to legalize medical cannabis, there’s is finally enough steam to put an initiative on the state’s 2024 ballot. Idaho Idaho is one of the staunchest anti-cannabis states.
1, 2024 launch date for its first-ever retail sales. In preparation, the CCA established a framework for cannabis business licensing, cultivation, manufacturing, distribution, testing, and adult-use retail sales that would be regulated by a newly formed Cannabis Control Authority. recreational) state, with a Jan.
Even if the bill passes, state regulators would still maintain authority to visit cultivators at any time to assure they’re keeping proper documentation, resulting in redundant regulatory efforts. The Tribune-Herald also reports that the bill that adopted the USDA hemp production program only made that provision active until June 30, 2022.
INCREASING DIVERSITY Illinois cannabis program is unique in that it centers diversity and equity. In the absence of federal banking standards for the cannabis industry, the Illinois Department of Commerce and Economic Opportunity (DCEO) has grant and loan programs to support small businesses, but its not sufficient to support needed growth.
As entrepreneurs and consumers eagerly await the implementation of New York’s adult-use program, lawmakers are taking steps to allow New York to effectuate its adult use cannabis program faster. Conditional Adult-Use Cultivator License. Such authority to minimally process and distribute cannabis products expires on June 1, 2023.
New Yorkers are now free to enjoy the pleasures of cannabis, and the University of Connecticut launches cannabis cultivation courses for non-degree-seeking students. The state has long struggled with getting its restrictive medical program running. However, there was one caveat… legalization wouldn’t go into effect until 2024.
Alabama legalized medical a medical cannabis program on May 17, 2021 when Governor Ivey signed SB 46 into law. The law provides for up to 12 cultivator licenses, up to four processor licenses, up to four dispensary licenses, and up to five integrated facility licenses.
California Cannabis Cultivation Tax Eliminated. The budget trailer bill eliminated the cannabis cultivation tax beginning July 1, 2022. The harvested cannabis was first sold or transferred by a cultivator to a distributor on or after July 1, 2022. California Cannabis Excise Tax Capped at 15% for Three Years.
The Illinois high court has rejected a request to permit further licensing for craft cannabis cultivators for the state’s adult-use marijuana program, which launched in January 2020. Craft cannabis cultivation typically involves growing cannabis in small batches, and the farming practices used are organic and sustainable.
This legislation also allows adults to cultivate two cannabis plants for personal use. These new measures will take time, and it is estimated that recreational products will not be sold until 2024 or even 2025. North Dakota passed a medical marijuana program in 2016. North Dakota currently allows for a medical marijuana program.
Legislation is pending, Senate Bill 165, to establish a medical marijuana access program for qualified patients with a physician’s recommendation to access medical marijuana from licensed retail outlets. Legislation is pending, HB 2097 / SB 2024, which would authorize licensed medical cannabis facilities to sell edible products.
Jason MacLean isn’t new to cannabis cultivation and genetic breading. He has been immersed within the cannabis community in Denver for over 15 years, working as a horticulturist and cultivator. And he also led the efforts that granted Cherry the Best Wholesale Cultivation award in the 2021 Best of Denver awards.
Despite cannabis remaining against the law on a federal level, many states have been allowing the sale, cultivation, and consumption of cannabis, with more states joining all the time. Currently, medical cannabis has seen great success cultivating strong business roots over the last four years across the state. Public Question No.1
million in total program tax revenue, according to the California Department of Tax and Fee Administration (CDTFA). Since the state launched its first adult-use sales in January 2018, the cannabis industry has provided a total program revenue of $2.8 California’s current cultivation tax is based on $9.65 Bringing in $40.4
Bell teaches Cannabis Law & Entrepreneurship in SLU’s Cannabis Science and Operations program. Sharma’s studies aims to offer strategic insights to inform cultivation practices and optimize cannabinoid production. 3:30 p.m. – Marialle A. is a business attorney and an Adjunct Instructor at Saint Louis University. 4:00 p.m. –
40B in sales by 2024. In Africa three countries — Lesotho, South Africa and Zimbabwe — have cannabis development programs. billion by 2024, up from $517 million last year, BDS and Arcview said. billion by 2024. In regulated markets, U.S. US leads the way. territories by that time, BDS and Arcview said.
Europe, forecasted to be the world’s biggest legal cannabis market by 2024 will exceed North America, the dominant market today, according to Prohibition Partners. We gave the option to foreign companies to cultivate in Denmark.”. Heitmann admitted there were challenges connected to being the first-mover in Big Pharma.
A combination of well-defined organic growth initiatives combined with acquisitions and partnerships would afford us a unique opportunity to expand our business globally and grow into the unquestioned industry leader, with $4B in revenue by the end of our fiscal year 2024.
After the voter approved initiative passed in November 2018 and was modified by the legislature in December 2018, Utah’s divided proponents of medical marijuana ended up with a medical program that is both patient-centric and internally seen as socially responsible.
Experts predict job growth could also boom across the supply chain, from cannabis cultivation and processing facilities to retail stores and distribution networks. Political analysts predict Ohio could greenlight recreational cannabis as soon as 2024 through citizen ballot initiatives. The pressure is on to capture this budding market.
” This fee — which is designed to support social equity programs — is required to convert up to three medical cannabis dispensaries into dual medical-recreational facilities. Medical cannabis cultivators who currently operate in the State of Connecticut could apply for a recreational license as early as this summer.
Provide that no person shall sell cannabinoid product to any person under the age of 21 unless the person is a medical cardholder registered under the Compassionate Use of Medical Cannabis Program Act. Provide that the Department of Agriculture may not limit the number of hemp farm licenses.
Gavin Newsom introduced proposed revisions to his 2022-2023 budget proposal, which would eliminate the cannabis cultivation tax rate beginning July 1, 2022. Currently, the cultivation tax rates are $10.08 per ounce of fresh cannabis plant, and these taxes are paid on all recreational and medicinal cultivation of cannabis.
There have been multiple attempts to create a medical and recreational marijuana program, all of which have failed. The next attempt to get medical marijuana on the ballot will likely be in 2024. Industrial hemp was grown in Nebraska as far back as the 1880s but cultivation stopped when the state prohibited the plant in 1927.
Over $140 Million in Revenue Expected Over the First Three Years of Cultivation and Over $400 Million in Total Revenue Projected for the 10-Year Term of the Agreement. Gold Leaf is one of only 22 licensed centers and one of only 16 active operators in Florida, and the organization is planning to open 20 dispensaries in the state by 2024.
If House Bill 209 were to become law, anyone 21 years or older could legally possess retail marijuana (in amounts explained below) or cultivate marijuana for personal use (also explained below). The Department of Revenue (DOR) estimates these revenue increases to remain flat from FY 2022 – FY 2024.” [ Read more at Oil City News ].
Other states with new programs, such as Missouri, have added thousands of jobs in a relatively short time span. We expect losses in these markets to continue to thin out in 2024 and turn positive once again in 2025,” they stated. Fortunately, the report’s authors are not concerned. “We
After Germany announced plans to legalize the plant, Czechia followed suit, with the first draft of legislation expected early in the 2023 session and tentative legalization in 2024. Most of the cannabis for the medical program is imported, which raises the cost for patients. Possible penalties. Home grow is not allowed.
As the year 2024 approaches, cannabis businesses must not only adapt to a new business landscape but also triumph over their competition. In 2024, sustainable packaging is not just a buzzword; it’s a business imperative. Personalized packaging goes beyond aesthetics; it cultivates brand loyalty and enhances recognition.
The region has been instrumental in highly regulated industries, such as alcohol and tobacco, and the only federally sanctioned cannabis grow program has operated at the University of Mississippi since the 1960s. Although several Southern states have enacted medical cannabis programs, no states have embraced recreational use of cannabis.
Some changes include: Setting the cultivation tax rate at zero beginning July 1, 2022. Setting Allocation 3 funding for youth education/intervention/ treatment, environmental restoration, and state and local law enforcement programs at a baseline of $670 million annually for three years.
Kathy Hochul signed legislation establishing a conditional cultivation and processing recreational licensing structure. Murphy is also “open-minded” to permitting a home cultivation option for consumers in the foreseeable future. Licensed cultivators will be limited to growing 43,560 square feet of flowering canopy outside.
We organize all of the trending information in your field so you don't have to. Join 14,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content