TAX

Title:  Marijuana legalization could inject over $130 billion into US tax coffers by 2025 — if the Trump administration stays hands-off

Author: Business Insider

Date: 15 January 2018

URL: http://www.businessinsider.com/cannabis-to-add-a-million-jobs-132-billion-tax-revenue-to-us-by-2025-2018-1?r=UK&IR=T

Extract: 

Marijuana legalization could create $132 billion in federal tax revenue and inject over a million jobs into the US labor market by 2025 if it becomes legal nationwide, a new study says.

The study, from cannabis industry analytics firm New Frontier Data, seeks to estimate the total economic impact of the nascent industry. Cannabis is legal in eight states, including California, which legalized recreational sales on January 1. Vermont is likely to join that list once Gov. Phil Scott signs a bill legalizing the possession of up to one ounce of marijuana into law.

The study assumes the tax revenue, which will add $131.8 billion cumulatively to the US Treasury by 2025, will come from a 15% retail tax, payroll tax deductions, and a 35% business tax. Sales tax alone on cannabis would add $51.7 billion to US coffers between 2017 and 2025.

FEDERAL

How Did U.S. Attorneys React After Jeff Sessions Opened the Door for a Marijuana Crackdown?

U.S. Attorney in Oregon Shares Cannabis Industry Concerns in Op-Ed

ARIZONA

Title:  Arizona Law May Protect Medical-Marijuana Users from Feds’ New Stance

Author: Baystreet.CA

Date: 15 January 2018

URL: https://www.baystreet.ca/stockstowatch/2882/Arizona-Law-May-Protect-Medical-Marijuana-Users-from-Feds-New-Stance

Extract:

A provision buried in the federal budget, plus a safety valve in what Arizona voters enacted in 2010, are expected protect individual medical-marijuana users in the State unless the Drug Enforcement Administration starts targeting individual users, which is considered highly unlikely.

Leading cannabis companies have seen positive feedback from support such as Arizona’s and other lawmakers across the country. The companies are experiencing positive momentum as a result including Supreme Pharmaceuticals Inc. (TSX: FIRE) (OTC: SPRWF), MedReleaf Corp. (OTC: MEDFF), GW Pharmaceuticals (NASDAQ: GWPH), and MYM

LOS ANGELES

Los Angeles Awards First Licenses Under Prop. 64 Rules

 

PENNSYLVANIA

Chart: Pennsylvania’s medical marijuana market set to become one of the country’s biggest