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Key Mexican Senator Introduces Bill To Legalize Marijuana Sales

Key Mexican Senator Introduces Bill To Legalize Marijuana Sales

A senator from Mexico’s ruling party who will soon be a key member of the incoming president’s cabinet filed a bill to legalize marijuana production and sales on Tuesday.

The move comes less than one week after the Mexican Supreme Court struck down the country’s criminalization of cannabis use and possession as unconstitutional.

Under the proposed General Law for the Regulation and Control of Marijuana, introduced by Olga Sánchez Cordero, a senator who is expected to become interior secretary in the government of President-elect Andrés Manuel López Obrador, it would be legal to use, possess, cultivate and sell of cannabis, subject to regulations.

The legislation would create a new Institute for the Regulation and Control of Cannabis under the country’s Ministry of Health, which would issue licenses and permits for marijuana cultivation, harvesting, transportation, processing and sales.

Individuals would be allow to grow up to 20 mature cannabis plants for personal consumption on private property. They would be limited to producing 480 grams of marijuana per year, and would have to register plants with regulators.

People who require greater amounts of cannabis for medical use would be able to request permits.

Selling or giving marijuana products to people under the age of 18 would be prohibited.

Last month, Sánchez and other members of López Obrador’s incoming cabinet discussed legalizing cannabis with Canadian government officials on a trip to that country, which ended prohibition of cannabis on October 17.

López Obrador takes office as president on December 1.

Meanwhile, several U.S states are voting on marijuana ballot measures on Tuesday.

See the original article published on Marijuana Moment below:

Key Mexican Senator Introduces Bill To Legalize Marijuana Sales

Nevada And Alaska Marijuana Sales Far Exceed Projection

Nevada And Alaska Marijuana Sales Far Exceed Projection

Among the four states to legalize recreational marijuana use and sales on Election Night 2016, a clear winner in the competition to cash in on tax revenue has emerged.

Voters in California, Maine, Massachusetts and Nevada approved cannabis legalization measures on the same night two Novembers ago.

Of these, Nevada was the first to record licensed and regulated retail sales in July 2017, a full six months before the first day of sales in California on January 1, 2018.

And since sales began, Nevada marijuana retailers have enjoyed a booming market—and with it, higher-than-expected tax revenue for the state, much of which is going directly to schools.

According to Nevada state marijuana regulators, taxable sales in the 12-month period from July 2017 to June 2018 are expected to exceed $500 million.

That’s 25 percent higher than official state revenue projections, which generally err on the side of caution.

And it absolutely destroys sales figures seen in Colorado and Washington during those two states’ first-in-the-nation early days of retail sales. In the first six months of 2014, Washington recorded $67 million, and Colorado $114 million.

The relative ease with which Nevada rolled out retail marijuana sales and their overwhelming success stands in stark contrast to the other states. In California, first-quarter sales fell well behind official state projections, in large part due to a highest-in-the-nation tax burden and cities and counties slow to adopt or outright to retail marijuana sales.

And in Massachusetts and Maine, a combination of local NIMBYism and government foot-dragging has meant that neither state has yet recorded a single sale.

“We are viewed by many others outside Nevada as essentially being the gold standard,” Nevada Taxation Department Director William Anderson told The Associated Press. “It’s an often-used term, but it’s appropriate here.”

At the same time, Nevada still has a long way to go before it catches Colorado’s current sales figures. In 2018, fueled by visitors from New Mexico, Texas and elsewhere, retail sales of marijuana in Colorado exceeded a staggering $1.5 billion, according to the Denver Post.

According to official first-quarter sales figures released by the state Department of Tax and Fee Administration, California raked in nearly $61 million.

That’s still on pace to miss Gov. Jerry Brown’s (D) prediction of $175 million in tax revenue from the first six months of the year. At the same time, more cities and counties—which must license retail dispensaries for them to operate—that were slow to allow for retail sales, such as Los Angeles, have come online.

In Alaska, which voted to legalize recreational marijuana sales in 2014, revenue from state marijuana taxes increased almost tenfold from year to year, with sales expected to continue to increase this year.

According to official figures released Wednesday, the Alaska Department of Revenue collected more than $11 million in taxes during the fiscal year that ended June 30—compared to $1.7 million the year before.

“I don’t believe the market has saturated and we haven’t seen exactly what capacity the state is going to operate in as far as cultivation and retail stores and the other facilities,” Kelly Mazzei, a tax official with the Department of Revenue, told NBC affiliate KTUU.

See the original article published on Marijuana Moment below:
https://www.marijuanamoment.net/nevada-and-alaska-marijuana-sales-far-exceed-projections/
February Was A Record Breaking Month For Colorado Pot Sales

February Was A Record Breaking Month For Colorado Pot Sales

Colorado continues to set records for the amount of cannabis that it sells through legal shops and dispensaries — and the volume of tax revenue that it collects as a result.

In February, more than $39 million worth of recreational cannabis was sold in the Centennial State. This beat the previous record, set in January of this year, by nearly $3 million. Growth has been steady; in January 2014, the first month of legal recreational use, about $14.7 million was generated from pot sales.

This increase is attributed to additional retail shops that have been appearing in cities like Aurora, located just east of Denver, which began selling recreational cannabis last October. Statistics haven’t been released regarding the demand at individual shops and dispensaries, so it’s impossible to say how much of the growth in sales is the result of recently opened retail outlets serving new customers and what portion is an increase in demand by existing users.

While sales of recreational cannabis continue to climb, medical consumption has actually decreased somewhat since the state’s recreational law went into effect.

Medical Sales Declining

During the era of recreational legality, medical pot sales peaked at $36 million in February 2014, more than a year ago. That record was nearly $7 more than was sold one year later in February 2015, when medical sales totalled $29.3 million.

The decrease in medical sales is attributed by some observers to the fact that eligible patients must register with the state. With consumption of any type illegal at the federal level — and individuals and dispensaries in states like California and Washington continuing to be busted by the feds — the risk of having one’s name in a government database is believed to be pushing the state’s pot patients to instead pursue recreational herb, which doesn’t require such registration.

This could obviously have a major impact on Colorado’s medical dispensaries, which, like any business, must generate enough revenue to remain profitable and keep their doors open.

marijuana sales colorado february 2015

Overall Upward Trend

These numbers all point toward a bright 2015 for Colorado in terms of tax dollars collected. Unless trends change dramatically, the state will sell more cannabis in 2015 than 2014. Which will, of course, benefit public schools and other services.

In January of this year, Colorado schools received $2.3 million from recreational sales, generating media headlines across the nation. In February, schools collected $2.1 million. At this rate, the state’s school system will likely receive an infusion of more than $25 million during the year from the sale of marijuana.

In 2014, Colorado sold more than $700 million worth of cannabis ($386 million for medical and $313 million for recreational). With 2015 projected to be an even bigger year for the state’s pot business, it’s no wonder that so many other states — even conservative ones like Arizona, Ohio, and Michigan — are seriously considering legalizing medical and recreational marijuana in an effort to decrease law enforcement expenses, generate much-needed tax revenue, and eliminate the criminal element that’s ingrained in the black market.

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