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Illinois officials recently released the Annual Cannabis Report for Fiscal Year 2024. The report also touts, as more evidence, Illinois’ $2,007,401,374 in sales during the past fiscal year. The 144-page report, compiled by the Cannabis Regulation Oversight Office (CROO), incorporates data from several state departments.
The 20-page report included a summary, 2023 accomplishments, goals for fiscal year 2024, and several charts and statistics. Another unreached “Essential Projects” goal from last year’s report included the implementation of “a new ‘Seed to Sale’ program that has been modernized to better serve the people of Illinois.”
The Seeds of Europe’s Adult-use Cannabis Market Are Sprouting Europe’s recreational cannabis market has overcome major regulatory hurdles in the last few years. The following year, the Czech Republic and German governments announced plans to develop a legal framework to establish a regulated market for recreational sales.
The global CBD skincare market is projected to be worth US$959 million by 2024 — which would account for an estimated 10% of global skincare product sales. . Prohibition Partners is delighted to present Disrupting Beauty, the first edition of a new set of consumer-goods reports entitled ‘The Impact Series’.
Although there is no excise tax on medical cannabis, there is a medical cannabis special privilege tax of 4% of the gross receipts or gross proceeds derived from the sale of usable cannabis to be collected by cultivation facilities, dispensaries, or other cannabis businesses and remitted to the Department of Finance and Administration.
Cannabis Jobs in 2022- From Seed to Sale. Arizona – Adult-use sales began at the start of 2021. In 2024, a vote on adult-use cannabis may propel the market to greater heights. Here is our cannabis employment report 2022. State of Cannabis Employment – 2022 Update. cannabis industry. Florida – 25,895. Arizona – 23,333.
Duque’s office estimates that the global market for medicinal and industrial cannabis may be worth US$62 billion by 2024. The Ministry of Justice will continue to be responsible for issuing licenses for seeds for the cultivation of cannabis plants. The resolution is expected to be ready in two months, Ruiz said. Advantages.
Duque’s office estimates that the global market for medicinal and industrial cannabis may be worth US$62 billion by 2024. The Ministry of Justice will continue to be responsible for issuing licenses for seeds for the cultivation of cannabis plants. The resolution is expected to be ready in two months, Ruiz said. Advantages.
Duque’s office estimates that the global market for medicinal and industrial cannabis may be worth US$62 billion by 2024. The Ministry of Justice will continue to be responsible for issuing licenses for seeds for the cultivation of cannabis plants. The resolution is expected to be ready in two months, Ruiz said. Advantages.
In total, actual recreational marijuana sales are happening in 11 states. The Virginia legislature now has passed a bill that would legalize sales starting in 2024; legislators are currently working with Gov. Ralph Northam (D) to amend and finalize legislation. These externalities share no association with the price.
Experts predict adult-use cannabis to come online by 2024, but regulators have not yet determined tourism policies. According to a BDSA report from this month, international sales will exceed ~$10 billion in 2026. The bulk of that new legal spending will be driven by Germany (contributing ~$3 billion by 2026).
Many states levy a marijuana excise tax in addition to the regular state sales tax. Adult-use retail sales: Purchases are not subject to any statewide cannabis tax, although some municipalities do charge a cannabis excise tax. There is no statewide retail sales tax in Alaska. Local municipalities may impose a local sales tax.
Duque’s office estimates that the global market for medicinal and industrial cannabis may be worth US$62 billion by 2024. The Ministry of Justice will continue to be responsible for issuing licenses for seeds for the cultivation of cannabis plants. The resolution is expected to be ready in two months, Ruiz said. Advantages.
A lack of federal regulation allowed for largely unregulated sales of intoxicating, artificially derived cannabinoids online and even to minors. In response, Oregon’s marijuana regulatory agency, the OLCC, promulgated administrative rules to ban the sale of most artificially-derived cannabinoids in Oregon. [2].
The Company may redeem the 2026 Notes at par, in whole or in part, on or after February 3, 2024, as more particularly described in the fourth supplemental trust indenture governing the 2026 Notes. The net proceeds from the Offering are intended to be used to fund capital expenditures, strategic acquisitions and for general corporate purposes.
The changes in the cannabis industry in Southeastern United States represent some of the most surprising and remarkable changes in the history of the industry. Hunter Robinson. Whitt Steineker. Slates Veazey. The South is well positioned to be a leader in the cannabis industry, and in some ways, it should be expected. Existing Cannabis Regimes.
This article is the first in a series called, “So you want to start a canna biz?” created in partnership with Good Tree Capital. The first topic we’ll cover is how to start a cannabis business, including tips on location, cost, and long-term success in cannabis. The real opportunity lies in both physical location and local enthusiasm.
They’re calling it the Rural Prosperity and Food Security Act of 2024 (the “Senate bill”). The Senate bill follows on the House’s proposal, called the Farm, Food and National Security Act of 2024 (the “House bill”), offered in May. That could happen in 2024, but seems more likely in 2025 when the new Congress convenes.
Czechia previously sought to ban HHC products in 2024. Retail sales will begin in specialized stores by mid-2025. As more quasi-legal programs emerge across Europe, pressure may build on the EU to adjust its laws, allowing for fully regulated commercial cannabis sales. HHC faces hurdles in gaining approval.
As of Monday, July 1, 2024, all hemp retailers or wholesalers who store, transfer or sell industrial hemp or hemp items for resale to another person must have a hemp vendor license from the Oregon Department of Agriculture (ODA). The new rules arise from House Bill 4121 , which Governor Tina Kotek signed into law on March 20, 2024.
Ability to source marijuana genetic material from outside Colorado Senate Bill 23-271 , which went into effect in early 2024, aims to enhance Colorados marijuana industry. D9 THC on a dry weight basis; Cannabis seeds, which grow into marijuana; and Tissue cultures. Marijuana genetics: are they hemp or marijuana?
Only then can Minnesota growers legally plant seeds. All in all, insiders do not expect adult-use legal sales to start until summer to fall of 2024. Minnesota is poised to legalize adult-use cannabis with the approval of HF 100 by the state legislature. The OCM will need some time to review those applications and grant licenses.
It’s on sale all over! Friend of the firm Andrew DeWeese published a recent LinkedIn post on Oregon’s outlying stance on THCA the other day, and the priorities of local industry advocates. I wanted to highlight that post and discuss today– it’s a compelling post and I have all sorts of thoughts about it.
For years, people have tried to decipher the incredibly poorly worded (I can’t stress this enough) language in the 2018 Farm Bill and what it means for intoxicating hemp products like THCA products or delta-8. In the last week or so, there’s been a lot of bad news for the intoxicating hemp products industry. Let’s take a look.
The report confirms the conclusions in my State of the State post from December 19, 2024, where I highlighted a static number of OLCC licensees, a static enforcement environment (inside and outside the OLCC system), and Oregons largest fall harvest, ever. But this would not allow interstate sales. There is not enough weed in Oregon.
RICHMOND, VA — Virginia lawmakers gave final approval Saturday to a bill that will legalize cannabis for adult use, but not until 2024, when retail sales of the drug would begin. Buyer’s guides for cannabis seeds and growing equipment. The legislation now goes to Democratic Gov. The legislation now goes to Democratic Gov.
For example, by the year 2024, more than 1 million German patients will be able to get their hands on medicinal-grade cannabis. For example, by the year 2024, more than 1 million German patients will be able to get their hands on medicinal-grade cannabis. Cannovum AG is paving the way for other cannabis companies to follow suit.
Thus, all the provisions on licensing, production, distribution, sales, and regulation, to name a few, did not pass into law. In addition, it creates five types of licenses that will govern cultivation, manufacturing, testing, wholesale and retail sale. In this article, we explain the elements of the bill relating to licensure.
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