Three New States Legalize Cannabis

Three New States Legalize Cannabis Americans in four states had measures on their midterm ballots to legalize cannabis, whether for recreational or medical use. With enough votes in to call the results, Michigan, Utah and Missouri join the 30 states that have legalized cannabis either for medical, recreational or both usages. Specifically, Michigan joins as[…]

Taxnexus Predicts a Cannabis Green Wave on November 6, 2018

Taxnexus Predicts a Cannabis Green Wave on November 6, 2018   States, counties and cities are piling onto the cannabis tax bandwagon. While pundits on TV talk about a pending Blue Wave on November 6th, Taxnexus sees a Green Wave of 43 new local cannabis tax measures in California and 4 state legalization measures on[…]

California Cannabis Tax Revenues Fall Short of Projections Again for the Second Quarter

As the nation’s largest legal cannabis market, the regulators had projected $185M in cannabis tax revenues for the first six months of 2018. However, the cannabis taxes collected during this period have fallen significantly short. Based on the figures released by the California Department of Tax and Fee Administration, the cannabis tax revenues were $60.9M[…]

Grover Beach, CA lowers cannabis tax rates

  Some local jurisdictions across California have realized that to stay competitive and to bring, and to keep, consumers out of the black market, they need to lower their ambitiously high cannabis tax rates. Among them is Grover Beach in San Luis Obispo County. Effective May 7, 2018, Grover City reduced its commercial cannabis tax rate[…]

Simi Valley, Thousand Oaks, Oxnard place cannabis business tax measures on November ballots

More cities are looking to impose cannabis taxes, even some that currently do not allow commercial recreational cannabis. The Simi Valley, Thousand Oaks and Oxnard city councils have placed measures on their cities’ Nov. 6 ballots that will ask voters whether marijuana businesses in their respective towns should be taxed. Source: Simi Valley, Thousand Oaks,[…]

Taxnexus Enables Cannabis Taxpayers with Automated Tax Compliance Solution.

With the new wave of cannabis legalization, not only do cannabis businesses (aka “taxpayers”) have to comply with stringent product regulations, but also with complicated tax laws. The complexity of taxes is especially felt by cannabis taxpayers in states like California where the state regulators have not placed a standard for localities for implementing cannabis[…]