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MJ Biz report… A cannabis cultivation company in Nevada was fined $565,000 for allegedly failing to tag its plants for the state-mandated seed-to-sale tracking system and operating with expired licenses, among other violations. The compliance board said in the recent complaint, filed Oct. Source: [link].
CCB Issues Summary Suspension of Cultivation License. LAS VEGAS, NV – Pursuant to Nevada Cannabis Compliance Board Regulation (NCCR) 4.105, the Nevada Cannabis Compliance Board (CCB) called an emergency board meeting via Zoom yesterday to consider the summary suspension of the cultivation licenses held by Green Cross of America, Inc.
The farmer saw significant success from his early cannabis yields, eventually purchasing another 300 seeds for 3 million VND (around $132). The farmer saw significant success from his early cannabis yields, eventually purchasing another 300 seeds for 3 million VND (around $132). Sadly, he paid a price. A Risky Venture.
Cannabis businesses in the state of Oklahoma have 90 days to become compliant with the state’s seed-to-sale (S2S) tracking system. Originally, this was going to happen much sooner, but attorney Ronald Durbin representing Dr. Z-Leaf Cultivation filed a lawsuit back in April of 2021. Talk about options!
It has been a few years since the wheels began turning on the legalization and sale of medical marijuana in the state of Missouri. Even though laws were put into place that legalized MMJ and made it possible for qualifying patients to access the medication, dispensaries and sales had not yet come into play.
The measure would impose a civil penalty of $200 for the possession of up to one ounce of marijuana, as well as for the cultivation of up to two marijuana plants. Legislation is pending, Senate Bill 2134, to permit qualifying patients to cultivate personal use quantities of cannabis for therapeutic purposes. Earl Blumenauer (D-OR).
While the board specified that hemp seed oil (with no CBD or THC) and hemp flower (with 0.3% While the board specified that hemp seed oil (with no CBD or THC) and hemp flower (with 0.3% According to projections from Statista, legal CBD sales in the US will achieve the $1.8 A Threat to a Growing Industry. According to U.S.
Although grow supply stores already have been openly selling seeds and clones, especially after the passing of the Agriculture Improvement Act of 2018 (Farm Bill), by law, Illinois medical patients have to purchase seeds from Illinois dispensaries. Seeds may not be given or sold to any other person.”
The BioTrack software, commonly referred to as seed-to-sale tracking, will track cannabis from when it is first planted as a seed to the point of sale to the consumer. Connecticut has shown their desire to be at the forefront of cannabis by looking for best-in-class software solutions. Forian Inc.
This week, a bipartisan coalition of more than 100 co-sponsors has reintroduced legislation in Congress, The Secure and Fair Enforcement Banking Act (SAFE Banking Act), HR 1595, to allow state-licensed marijuana-related businesses to engage freely in relationships with banks and other financial institutions. Your Highness, Carly. AL resident?
CHICAGO–(BUSINESS WIRE)– Cresco Labs Inc. wholesaler of branded cannabis products, announced today the closing of the Company’s previously announced acquisition of Cultivate (the “Transaction”). The Transaction also includes space available to further expand cultivation capacity. Transaction Highlights.
Akerna (Nasdaq: KERN ), an enterprise software, leading compliance technology provider, and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform ® ), announced a new offering, Akerna Connect.
Amendment 2, which became effective on December 6, 2018, legalizes marijuana for medical purposes, allows home growing, and imposes a 4% marijuana sales tax. First, Missouri implemented a seed-to-sale system which added many unnecessary layers between growing the plant and selling product to patients. million votes.
Around tax time, I get this question a lot: “What is my cannabis business’s NAICS code or Business Activity Code?” The IRS requests your business’s “Business Activity Code” on a tax return filing, which is based on the NAICS code system.
This burgeoning industry encompasses a wide range of activities, including cultivation, processing, distribution, and retail sales of medical cannabis products. Understanding these trends is vital for businesses to effectively meet consumer needs and stay competitive in the market.
Senator Jeremy Cooney of New York introduced a bill on July 20 that would build upon the state’s recreational cannabis law with a focus on getting cultivation up and running. A provisional license would offer a cultivator the same benefits as a cultivator’s license for the time being.
The money will be used to purchase the cultivator’s assets. Included in the deal are a hoop house, indoor greenhouse, outdoor cultivation capacity, equipment, and cultivation facilities. million for the business, and $4.5 million for the business, and $4.5 Medicine Man Technologies Inc., The deal’s $11.3
Tracebility was and is the tracking of Cannabis and Cannabis-infused items and products from “see d to sale”, as directed to Washington and Colorado per the Cole Memo issued in August 2013. We would find that occasionally, a “lot” would disappear from the ready for sale portion of our cash register computers.
Along those lines, Oregon’s biggest hemp company already is a seed company called Oregon CBD. If you want a certain CBD-rich strain–or a CBG strain , or a CBN strain , or any other kind of hemp strain–you would go to a seed company. approved pesticides), and count on clear federal parameters for their business models.
MARLBOROUGH, New Zealand & VANCOUVER, British Columbia–(BUSINESS WIRE)– #ERP–Elevated Signals software will enable Puro to become a data-led cannabis cultivator, Read More
There are five important “categories,” that require company leaders’ utmost focus and attention as they launch a compliant cannabis business in a newly legal state. Non-compliant businesses face the risk of being shut down and attract negative attention to the cannabis industry. Cutting across these categories is the team.
Welcome to the latest edition of NORML’s Weekly Legislative Roundup! At the state level, North Dakota state Rep. Roers Jones, who sponsored the recently defeated decriminalization bill, is trying to get her language inserted as a part of separate legislation. Your Highness, Carly. Actions to Take.
Akerna (Nasdaq: KERN ), an enterprise software, leading compliance technology provider, and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®) today announced the release of its second annual mid-year review. You can access the report here. About Akerna.
The Agriculture Improvement Act of 2018 (“ 2018 Farm Bill ”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. million square feet indoors to the cultivation of hemp.
This article focuses on different types of cannabis businesses. As the cannabis industry takes shape, the wide array of businesses that make up the industry really come into focus. Learn the types of cannabis businesses. Examples of plant-touching and ancillary businesses along the entire cannabis supply chain.
A group of Colorado lawmakers wants to increase oversight of the state’s marijuana businesses, but the cannabis industry is ready to fight the proposal. The bill requires future contracts for the seed-to-sale tracking system to be awarded pursuant to a transparent, online, and dynamically competitive process. BILL SUMMARY.
New Jersey lawmakers have come to an agreement with Governor Murphy regarding retail marijuana tax rates, settling on charging sales tax by weight as opposed to a specific percentage. Welcome to the latest edition of NORML’s Weekly Legislative Roundup! Your Highness, Carly. Actions to Take. AZ resident?
” AB 2691 recently passed through the Assembly Business and Professions Committee. ” AB 2691 recently passed through the Assembly Business and Professions Committee. Hope for Small Farmers and Cultivators. For small-scale producers to have direct marketing and sales opportunities with consumers is really critical.”
He is energized by the prospect of legalizing interstate cannabis sales as a way to benefit farmers in his state. He is energized by the prospect of legalizing interstate cannabis sales as a way to benefit farmers in his state. ” The Benefits of Legalizing Interstate Cannabis Sales.
–(BUSINESS WIRE)–International cannabis brand Cookies today announced the debut of new top-shelf concentrate and flower product lines at the Cookies Tacoma retail location, with statewide availability coming soon through an exclusive partnership with expert extraction company Edgemont Group , maker of Full Spec and Leafwerx products. .–(BUSINESS
and industry-leading Cannabis Business Times, Cannabis Dispensary, and Hemp Grower magazines, announces today Sherbinskis’ Founder and Chief Creative Officer Mario Guzman as the keynote speaker on Day 1 of its annual event, to take place Aug. LAS VEGAS, NV JULY 22, 2021 – Cannabis Conference , produced by parent company GIE Media Inc.
1981-623) that had allowed deductions incurred in carrying on the production, distribution, and sale of controlled substances. The production or sale of marijuana is still illegal under U.S. 280E determines costs of goods sold and whether the IRS can require a business subject to Sec. 173 (2007)). 280E, still apply.
This typically leads to lease or rent payments 200-300% higher than what would be charged to a more traditional business. cultivation tax is assessed annually. Not to mention the fact that the excise tax, states sales tax, and local sales tax are all stacked onto the retail customers’ receipts. in May of last year.
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. The law provides for at least 20 to 40 dispensary licenses (there are currently 33) and four to eight cultivation facility licenses.
A cannabis consultant is someone who plays an especially important role for those looking to open a cannabis business but lack experience in certain areas. Today a cannabis consultant does more than just help set up, operate, and/or maintain the cultivation side of a cannabis business. What Do Cannabis Consultants Do?
Pipp Horticulture continues to focus on developing solutions that increase efficiency and streamline operations for our cultivation partners across the globe. level mobile cultivation systems, announces the new, patent-pending ELEVATE Platform System. the leading provider of space?saving, saving, multi?level About Pipp Horticulture.
Commissioning Lowell Farms Services, a new business unit serving California cultivators with midstream processing services. The facility is centrally located in the Salinas Valley with several million square feet of cultivation canopy within a few miles. Facility capable of processi ng 250,000 lbs. SALINAS, Calif.,
Provides that the Commission may suspend or revoke the license of, or impose other penalties upon, dispensing organizations, cultivation centers, craft growers, infuser organizations, transporting organizations, laboratories, and their principal officers, agents-in-charge, and agents for violations of the Act or any rules adopted under the Act.
On eve of Commission’s fourth birthday, Marijuana Establishments surpass $2 billion in gross sales since retail stores opened in Massachusetts; progress continues to achieve industry goals. Over the first year of adult-use sales , from November 2018 to November 2019, 33 Marijuana Retailers generated $393.7
The bill legalizes the production and sale of marijuana flower concentrates, topical and edible products, immature cannabis plants and seeds, and hemp-derived THC products. Vertical integration of cannabis business is not allowed except in certain circumstances. Manufacturers can sell products to other businesses.
The Agriculture Improvement Act of 2018 (“ 2018 Farm Bill ”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. HB 491 lays out the details of Louisiana’s hemp cultivation plan.
Our control of the entire experience from start to finish, seed to sale, sets us apart,” said Berner. “We We take pride in our in-house cultivation, global varieties, and a full lineup of strain-specific products.” Thanks to the new law, Thai residents can legally cultivate the plant for personal consumption. .
It’s no secret that California’s illicit cannabis market is alive and well; a recent audit showed that there are nearly 3,000 unlawful cannabis businesses in the Golden State. Just consider how many days it takes to get from seed to harvest, and this fine could get into the millions very quickly. Anyone can do this math.
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