HIRING CANNABIS ATTORNEYS
Title: How To Hire A Pot Lawyer
Author: High Times
Date: 28 May 2018
URL: https://hightimes.com/news/laws/how-to-hire-a-pot-lawyer/
Extract:
When Bill Sherman (this is not his real name—due to the sensitivity of his case, he asked us to use an alias) came home to a dozen narcotics agents in his apartment one night, he knew he would need a pot lawyer. The cops had forced entry without a warrant, having figured out that Sherman was receiving out-of-state cannabis-oil shipments, which he used to treat his chronic obstructive pulmonary disease. Living in Mississippi, where legal weed is only the stuff of fairy tales in far-off lands on the West Coast, Sherman had been risking his freedom to self-medicate with cannabis.
CALIFORNIA / TAX
Title: California Bill To Cut Adult-Use Taxes Stalls In Committee
Author: Candid Chronicle
Date: 27 May 2018
URL: http://candidchronicle.com/california-bill-to-cut-adult-use-taxes-stalls-in-committee/
Extract:
Projected revenue from adult-use marijuana in the state of California has fallen short of the state’s initial projections in the first several months of 2018. Original forecasts predicted that retail sales would generate $175 million in tax revenue by the beginning of July, but by March, the state had only collected $34 million.
High tax rates, which can collectively amount to nearly 50% in some places, are one of the things being blamed for sales not meeting the forecast expectations.
In April, the Oakland-based Arcview Group released a study which estimated that, compared to unlicensed marijuana manufacturers, legal cannabis producers pay 77% higher business costs stemming from a variety of state and local taxes and other fees associated with new regulations.
In March, Tom Lackey [R] introduced AB3157 into committee, a bill aimed at helping the new legal cannabis industry by suspending the cultivation tax for three years, and reducing the excise tax rate to 11% until June 1, 2021, when it would return to 15%.
CULVER CITY / CANADA
Title: California Inc.: Culver City pot shop set to go public — in Canada
Author: LA Times
Date: 28 May 2018
URL: http://www.latimes.com/business/la-fi-lazarus-newsletter-california-inc-20180528-story.html
Extract: Pot of gold: MedMen, a Culver City company that runs a chain of cannabis dispensaries, is going public in a deal that values the firm at more than $1 billion. Its shares, listed on a Canadian stock exchange, are expected to begin trading this week. More cannabis companies are expected to go public in Canada — where marijuana is federally legal — in coming months.
LAS VEGAS
Las Vegas Medical Marijuana Assoc 2018 NV Sales & Estimates – Chart
March saw an increase of 1,714 pounds, a 24.2% increase. Per Jonathan Rubin of Cannabis Benchmarks, dispensaries over purchased in March for 420. Expect a dip in April but a steady increase of 3% to 4% on average per month. Info.
