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Ticker: CCC says don’t change pot tax; Google selects Mississippi site; Mortgage rates hit another low 

Changing the way Massachusetts taxes legal marijuana could produce more revenue for the state, but it could also disrupt the fledgling cannabis industry, a report found. In a report by the Cannabis Control Commission, regulators and state revenue experts considered taxing pot based on its weight or potency, rather than the current price-based tax. Although almost every single alternate tax structure studied in an analysis conducted by KPMG is likely to generate more tax revenue, the CCC determined the relatively small increases would not be worth the hassle. “The Massachusetts adult-use cannabis industry is in a nascent stage. A large-scale change in taxation scheme would cause disruptions that are not worth the potential short-term revenue gain, especially in a market with currently stabl...

Milpitas City Council to again weigh cannabis sales tax ballot measure

Published: May 4, 2020, 4:35 pm • Updated: May 4, 2020, 4:37 pm By Joseph Geha MILPITAS — Despite voting in late 2018 to ban marijuana businesses in the city, the Milpitas City Council will discuss Tuesday whether it should put a marijuana business sales tax measure on the November election ballot. The issue of whether to sanction marijuana business in the city has been contentious. Mayor Rich Tran, who supported the previous ban, suggested at an April 21 meeting that the council take up the conversation on the cannabis sales tax measure, saying he wants local voters to make the choice. Read the rest of this story on MercuryNews.com.

California passes $1 billion in cannabis tax revenue two years after launching legal market

California has raised $1 billion in cannabis tax revenue since the industry kicked into gear in January 2018, according to figures recently released by the state. The bulk of that $1.03 billion in tax money, after covering regulatory costs, has been spent on programs such as child care for low income families, cannabis research, public safety grants and cleaning up public lands harmed by illegal marijuana grows. While industry insiders and advocates are celebrating those numbers, they’re also raising a flag about stagnating revenues and ongoing layoffs. Those hurdles, many say, can be fixed if regulators make key changes, including a seemingly counter intuitive push to lower the state’s cannabis tax rate. Read the rest of this story on MercuryNews.com.

California passes $1 billion in cannabis tax revenue two years after launching legal market

California has raised $1 billion in cannabis tax revenue since the industry kicked into gear in January 2018, according to figures recently released by the state. The bulk of that $1.03 billion in tax money, after covering regulatory costs, has been spent on programs such as child care for low income families, cannabis research, public safety grants and cleaning up public lands harmed by illegal marijuana grows. While industry insiders and advocates are celebrating those numbers, they’re also raising a flag about stagnating revenues and ongoing layoffs. Those hurdles, many say, can be fixed if regulators make key changes, including a seemingly counter intuitive push to lower the state’s cannabis tax rate. Read the rest of this story on ocregister.com.

Newsom’s budget calls for changing how California regulates its cannabis industry

Gov. Gavin Newsom is recommending a major overhaul to how California regulates its multibillion-dollar cannabis industry, with changes aimed at streamlining oversight and tax collection included in the proposed state budget he released Friday morning. Industry leaders are applauding the proposals, which are expected to ultimately make things easier for licensed businesses to navigate the legal market and compete with illicit operators. “Today’s announcement from the governor marks a turning of the tide,” said Jerred Kiloh, board president for the Los Angeles-based United Cannabis Business Association trade group. Read the rest of this story on ocregister.com.

California agency recommends major overhaul to state’s cannabis taxes

California’s struggling cannabis industry didn’t get the recommendation many hoped for — a call to sharply lower the industry’s tax rate — but a long-awaited state report did suggest a marijuana tax overhaul. The report from California’s nonpartisan Legislative Analyst Office, released Tuesday, Dec. 17, says lawmakers should ditch the way the state currently taxes marijuana and, instead, tax cannabis at different rates based on its potency. Such a tax structure, the report said, would result in stable revenue and discourage cannabis abuse. The report — the first of its kind since voters legalized cannabis three years earlier — also recommends California quit making licensed cultivators pay a tax based on the weight of marijuana they grow. Read the rest of this story on ocregister.com.

How will Denver’s new minimum wage impact the marijuana industry?

A recent survey of cannabis companies suggests future entry-level employees will see better pay in Denver thanks to a new law that will increase the city’s minimum wage to $15.87 by 2022. Daniel Brenner, Special to the Denver PostBudtender Isaiah Riley assists a customer Thursday, March 28, 2019 at Terrapin Care Station in Aurora. At least one operator is ahead of the curve. Boulder-based Terrapin Care Station this month announced it was establishing a company-wide $15 minimum wage, a figure that will outpace Denver’s incremental increases for the next two years. Read the rest of this story on DenverPost.com.