YOUR COUSIN FROM BOSTON
Cannabis tax revenues exceed alcohol’s in Massachusetts
Booze sales aren’t dropping, but regulated cannabis sales are skyrocketing in Massachusetts — so much so that for the first time, cannabis excise tax revenues exceeded alcohol’s, reports WCVB.
By the numbers
- $51.3 million in alcohol excise taxes was collected in the second half of 2021
- A staggering $74.2 million in cannabis excise taxes was collected over the same period
- The adult-use excise tax rate is 10.75%. There’s also a 6.25% state sales tax, and a local tax capped at 3%
- Gross total cannabis sales hit $2.54 billion since adult-use retailers opened in Nov. 2019
- Transition from medical to adult-use “typically leads to a doubling or even tripling of revenues ‘almost overnight,’” said analyst Vivien Azer
The takeaway
“I think that people are looking for an alternative to make them feel better,” said Mikayla Bell, community outreach manager for NETA, one of the largest cannabis retailers in the state. “Oftentimes people are turning to alcohol for relief. And now they found another product without the hangover, without the calories.”
Enjoy Cannabis Daily each morning at 7 a.m.
STATE OF THE STATE
Interstate cannabis commerce could hurt legal state programs: opinion
In an op-ed for Bloomberg Law, Shaleen Title of the Ohio State University Drug Enforcement and Policy Center and lawyer Andrew Kline argue that the little-known Dormant Commerce Clause (DCC) — which isn’t addressed by any of the federal legalization bills currently in play — could destroy hard-won state-level equity and local business efforts.
What is the DCC?
The clause aims to disallow states from preventing interstate commerce. Should federal legalization go through in the US, it’s likely that a series of litigation nightmares would ensue.
The takeaway
“If Congress intends to take meaningful steps to right the wrongs of the war on drugs and protect businesses small and large, it must explicitly pause the DCC and clearly define the regulatory roles and responsibilities of states,” they write.
THAT’S NOVEL
UK CBD applications for some novel food authorization due in February
The UK Food Standards Agency still hasn’t published the much-awaited list of approved CBD products that was initially planned to be released in March 2021. Meanwhile, they’ve asked some companies to submit additional documentation as part of their applications by the end of February, writes BusinessCann.
One company, British Cannabis, was also notified that 15 of its dossiers, which contain more than 3,000 products, will be added to the ‘on-hold’ section of the public list.
IT’S TRUE THOUGH
It’s funny because it’s true
Fake news website The Onion has still got it: “Noting the numerous therapeutic benefits of cannabis, a new study published Tuesday by researchers at Mount Sinai Hospital found that marijuana ranks among the foremost treatments for persistent existence,” reads their latest cannabis-focused satirical news story.
“Without marijuana, the continual burdens of everyday being can often be unbearable,” said fake lead researcher Dr. Samantha Park. “In fact, many wondered if chronic existence could even be treated. Thankfully, we’re finding that cannabis can actually provide temporary relief far surpassing even our best earlier cures such as suicide or cocaine.”
A little dark? Sure. But in these tough times, we couldn’t agree more!
