Something to watch?

[Fernando]

FernandaKaren strikes again…

What happens in CA, spread throughout the nation. Even Harris almost grabbed the White House.
Although I'm surprise other states hadn't followed CA's property tax cap with Proposition 13 approved by voters almost 50 years ago.
Best tax savings for long time homeowners ..... and property investors.

 

[Sandra Koutsopoulos]

We live fairly close to Oklahoma, where med pot is legal. There are over 4,600 licensed growers in OK - yet we see news of illegal grow busts almost daily. I just don't understand it - why set up an illegal grow farm - not cheap - when you can just apply for a license to grow?

Regulations, Oversight, Taxes.

 

[alebrewer]

Regulations, Oversight, Taxes.

Of course that's the reason. Profit margins from illegal grows must be pretty strong for folks to drop that much money into something that could be shut down tomorrow.

 

[KHS445]

Michigan has had medical marijuana for years and then several years ago the voters approved retail sales and general use. Between my small City, one Township and the County a total of $622,094 of tax revenue was received from the State for 2022 and $590,863 was received for 2023. The City has an ordnance limited five retail dispensaries, which are contained in an approximately half mile long highway fronting commercial district. To date I have yet to smell any weed being smoked. Is it a good thing, I really don't know long-term, but for the most part locally it is being treated like alcohol.

The State taxes marijuana sales an additional 10% over and above the 6% State sales tax. The 30% of the taxes collected within a County are split equally between the County and the municipality that has marijuana businesses. Then the other 70% goes to the School Aid fund. So, some quick math will show that local sales in 2023 amounted to approximately $19,695,433. When it comes to Federal Tax the dispensaries are taxed at approximately 40%, rather than the 21% corporate rate. Statewide marijuana sales for 2023 were just under $1,000,000,000.

Seems like a growth business to me.

 

[PL1957]

Michigan has had medical marijuana for years and then several years ago the voters approved retail sales and general use. Between my small City, one Township and the County a total of $622,094 of tax revenue was received from the State for 2022 and $590,863 was received for 2023. The City has an ordnance limited five retail dispensaries, which are contained in an approximately half mile long highway fronting commercial district. To date I have yet to smell any weed being smoked. Is it a good thing, I really don't know long-term, but for the most part locally it is being treated like alcohol.

The State taxes marijuana sales an additional 10% over and above the 6% State sales tax. The 30% of the taxes collected within a County are split equally between the County and the municipality that has marijuana businesses. Then the other 70% goes to the School Aid fund. So, some quick math will show that local sales in 2023 amounted to approximately $19,695,433. When it comes to Federal Tax the dispensaries are taxed at approximately 40%, rather than the 21% corporate rate. Statewide marijuana sales for 2023 were just under $1,000,000,000.

Seems like a growth business to me.

New Buffalo Township just began permitting recreational sales this year. So far, 16 dispensaries have opened up along I-94 and Red Arrow Highway (US 12), right across the MI/IN state line. Supposedly, permits have been filed for an additional 30 dispensaries in the Township. Demand is coming from IN, where pot is illegal, and from IL, where costs are 3x Michigan levels. It’s well worth the hour drive from Chicago for the cost savings.

 

[Sandra Koutsopoulos]

Of course that's the reason. Profit margins from illegal grows must be pretty strong for folks to drop that much money into something that could be shut down tomorrow.

Even out here in the desert areas, the "grows" are often in those big metal shipping containers strewn across the Inland Empire. Some outdoor "grows" are so pungent, you can't miss 'em just driving by on the highway. Skunky.

 

[Charles West]

You can make more money growing organic thyme than you can pot—too many regulations, taxes, and fees out of the kazoo.

 

[alebrewer]

Even out here in the desert areas, the "grows" are often in those big metal shipping containers strewn across the Inland Empire. Some outdoor "grows" are so pungent, you can't miss 'em just driving by on the highway. Skunky.

MMMMM. Love that smell.

 

[TerryRohrer]

Beware.

2 Men Dead After Using Bat Poop to Grow Cannabis

Spores from the bat guano, which is commonly used as a cannabis fertilizer, contained a harmful fungus responsible for the deaths.

www.cannabisbusinesstimes.com