Cannabis industry paid $1.8b in excess taxes in 2022, refund checks anyone?

Maine lawmakers reject interstate cannabis commerce bill in committee

Marijuana Moment reports that a bill that would have authorized Maine’s governor to enter into agreements with other legal cannabis states to allow interstate cannabis commerce has been rejected.

However, according to the publication, the chairman emphasized that cross-border trade could still advance as part of a separate vehicle as lawmakers continue to work throughout the summer.

Rep. Joseph Perry (D) stated: “Cannabis is now Maine’s most valuable crop, besting the state’s signature agricultural products such as potatoes, milk and blueberries.

“When you combine the adult use and medical markets, some estimates have the value of the industry at over $500 million, significantly more than last year’s lobster harvest.”


Cannabis industry paid $1.8b in excess taxes in 2022, refund checks anyone?

In 2022, cannabis operators paid over $1.8 billion in additional taxes as compared to ordinary businesses – which is forecasted to increase to $2.1 billion in 2023, reports Benzinga.

According to a Whitney Economics impact analysis of federal taxes on the cannabis industry, several state markets are also on the brink of systemic collapse, which experts have warned would result in significant personal wealth destruction and disproportionately impact smaller operators.

The publication writes that tax reform may be the solution that helps support the cannabis industry, while it would also serve to generate billions in economic activity.


Cannabis stocks: 10 biggest companies in 2023

Investing News takes a look at ten of the largest players in the sector and their operations in 2023.

The publication writes that, while cannabis remains illegal at the federal level in the US, state market openings have allowed US-based operators to thrive, noting that they have much to gain from country-level reform in the US and are eager to see more welcoming federal laws that will allow their businesses to develop further.

The biggest companies in the round up include: Greenthumb Industries; Curaleaf Holdings; Trulieve Cannabis; Verano Holdings; TerrAscend; Cronos group; Tilray Brands; Canopy Growth, SNDL; and, Organigram Holdings.

Related Posts

Related Posts


Related Posts

Related Posts

Recent Posts

Related Posts

Subscribe to our mailing list to receives daily updates!

We won’t spam you


Browse by Tags




© 2023 Prohibition Holdings Ltd. All Rights Reserved.


Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?