California North Coast cannabis industry struggles with growing pains in 2022
According to a survey by the National Cannabis Industry Association, only 26% of the people who responded said their crops were profitable in California.
Many cannabis growers say the lack of profitability is due to illegal grow operations flourishing since these dealers can sell their products at a cheaper price. They don't pay taxes and may not comply with expensive regulations.
They demanded tax cuts and a level playing field for illegal growers because they were fed up with the current situation.
Cannabis was legalized in California. The state set up its taxation and legal licensing procedures.
According to the Institute on Taxation and Economic Policy, California was the most overtaxed state when it came to recreational use. 15 states legalized it by the end of the year.
Sonoma County imposed a tax of up to $12.65 per square foot for planting space.
Cannabis farms used lobbyists to get state lawmakers to help them avoid the tax.
The cannabis industry received tax relief in the state budget signed by the governor. The tax that growers pay on the amount they grow was eliminated as a result of the deal. The excise tax collected on each product was capped for three years.
According to the farming advocacy group, Good Farmers Great Neighbors, harvest production decreased as the third quarter ended. The average price in Sonoma County was $570 a pound in October, which is 30% higher than this year.
Farming advocate Sam Rodriguez said at the time that it looked like every farmer had taken advantage of the chance to go fallow.
Susan Wood also covers banking and finance. Susan has worked for a number of publications over the course of 27 years. Wood can be reached at susan.wood@busjnr.com.
Keywords: expected retail outlets, sizable illegal market, plummeting wholesale prices, cannabis industry stumbled
Source: www.northbaybusinessjournal.com
What to expect when New York's first recreational cannabis dispensary opens Thursday in Manhattan
New York will soon allow adults to buy recreational marijuana. The first cannabis dispensary in the state will open on Thursday.
The first sale was made by a nonprofit.
The Housing Works Cannabis Company had a low before the high. Adults over the age of 21 will be able to purchase recreational marijuana on Thursday.
Housing Works CEO Charles King said "everything from wrapped to pre-wrapped." We expect a long line tomorrow but we will be able to serve people quickly after that.
The grand opening of CBS News New York is imminent. People living with HIV and AIDS are served by Housing Works. He said the nonprofit had been trying to get a license to sell pot.
"We serve a population that has been criminalized by the war on drugs and we felt it was appropriate for us to be able to not only sell cannabis but use that as an opportunity to hire and employ people who have been involved due to use and possession of cannabis"
Marijuana will soon be delivered by retail dispensaries in New York.
The New York State Cannabis Control Board has approved 36 licenses. The opening of Housing Works will be exciting for many in the area.
One person said that if it's something that could give them some relief, they'll try it.
Mayor Eric Adams may face an uphill battle in cracking down on stores that sell marijuana.
Critics worry that the legalization of pot will lead to an increase in crime and a decrease in quality of life. King believes that regulating marijuana will help control illegal areas.
Cannabis sellers don't pay taxes. We will be paying taxes to the government. Bringing in a regulated market is a way to improve the system for everyone.
The money will go back into the organization.
The 10 biggest NY cannabis stories in 2022
The Marijuana Regulation and Taxation Act was passed a year ago.
Lab testing and social equity, business data and legal opinions, criminal justice and medical marijuana, politics, transparency and accountability have all been covered by our reporters over the last nine months.
Some of the stories were more popular than others. Our coverage of lawsuits, family concerns, government regulations, product recalls and a small town's revitalizing were some of the most popular with our readers.
The top stories of the year were determined by page views.
More than 900 people applied for the first chance to sell legal weed in the Empire State after applications for NY's Conditional Adult-Use Recreational Dispensary license closed.
Getting all the required documents together took some time for Jill Dragutsky, who chose Manhattan as her preferred area. Dragutsky's father had a cannabis conviction in the early 1990s and later owned a food distribution company.
You have to go back 20 years to get a lot of the documents. It took a long time to find what I needed.
There is a small New York town that is all in on legal cannabis.
Brad Racino, editor and publisher of NY Cannabis Insider, and Syracuse.com videographer, president of the Syracuse Press Club, and member of the Post-Standard editorial board, visited the small city of Jamestown in Western New York.
The two spent a day, a night, and a morning speaking with local entrepreneurs and city staff to dive into how the town was embracing cannabis legalization and published a feature story about it.
NY Cannabis Insider ran a story in the summer about the steps the mayor of Jamestown was taking to take advantage of the new market.
The marijuana stigma almost destroyed a New York mother. The first time I felt safe in my home was on March 31, 2021.
The smell of cannabis cannot be used to refer to Child Protective Services. It doesn't mean I won't be discriminated against. As a parent who consumes cannabis, the smell isn't a problem.
Every knock on my door scares me. If a child is in need, anyone can call Child Protection Services. The call that was made about my son was not good. My employment made us targets.
She is a Long Island resident. She is a cannabis patient. She is the director of education for The CannaDiva, an online community fighting the stigma of cannabis consumption. She wrote an account for NY Cannabis Insider to show how the stigma surrounding marijuana can affect a person.
The NY companies are licensed to grow marijuana.
NY Cannabis Insider's expertise with data is one of the reasons it stands out. If you can find it, the cannabis industry is full of it.
We listed the companies that were approved to grow weed in New York. The Cannabis Control Board met and awarded more licenses.
There are over 300 licensed growers in the state. Thousands of medical marijuana products were removed from NY dispensaries.
There was a published date of August 12th, 2022.
In August, NY Cannabis Insider broke the news that Curaleaf, one of New York's medical marijuana operators, had pulled tens of thousands of units of cannabis from dispensary shelves after the company switched to an unauthorized way of labeling potency.
The Office of Cannabis Management did not approve the display of dry weight measurements on its products. Marijuana is more attractive for buyers looking for the biggest bang for their buck when they use the dry weight method instead of the wet weight method.
Key documents in a $200 million fund investigation have not been turned over.
The managers of a $200 million social equity fund were investigated by NY Cannabis Insider.
Reporters submitted a Freedom of Information Law request to the Dormitory Authority of the State of New York in September for documents that would show how the agency decided on the fund managers.
NY Cannabis Insider started publishing a story about the delay for every day that the agency does not comply with state law because DASNY has delayed producing those documents nearly three months. The first article in the series was this one.
Thousands of units and hundreds of patients are being recalled.
The multistate marijuana operator has recalled products in the state twice since December.
The Office of Cannabis Management received a Freedom of Information request from NY Cannabis Insider.
More than 1,500 mislabeled pills were distributed to New York dispensaries during March and June.
New York just loosened its marijuana testing requirements.
The OCM removed its testing limits after NY Cannabis Insider reported that the majority of marijuana growers wouldn't be able to get their product onto store shelves because they couldn't pass the state's strict testing.
There will not be a defined limit for unextracted cannabis products in the adult-use program.
New York dropped guidance for its first retail marijuana dispensary.
Guidelines for New York's first marijuana retail license holders were published by the OCM.
The guidelines cover topics from recordkeeping requirements to required training for staffers to inventory and tracking requirements and came about two months before the state's self-imposed year-end deadline to open New York's first adult-use dispensary.
The legal marijuana industry in New York has been affected by a court injunction.
The biggest story of the year was the decision by a US District Judge to stop the OCM from issuing CAURD licenses in certain regions. CAURD applicants in the Finger Lakes, Central New York, Western New York, Mid- Hudson and Brooklyn are subject to the injunction.
The state is being sued by a Michigan company. The company is owned by a person with a cannabis conviction in Michigan who has no connection to New York. The rules for CAURD require applicants to have a significant presence in New York and have been convicted of a cannabis crime there.
The suit claims that the CAURD requirements discriminate against out-of-state cannabis operators. According to Cornell University, the clause prohibits states from imposing excessive burdens on interstate commerce.
Keywords: Cannabis Insider, Taxation Act, Cannabis, York
Source: www.syracuse.com