Search results
Results From The WOW.Com Content Network
This is the first time that Detroit will get tax revenue from marijuana businesses, as sales of recreational marijuana started in the city in early 2023.. Revenue was collected from 737 licensees ...
Michigan's marijuana market and local taxes. Marijuana is a $3.2 billion industry in the state, according to state figures. Local governments split $87 million in marijuana tax revenues earlier ...
The Michigan Regulation and Taxation of Marihuana Act, also known as Proposal 1, was an initiative that appeared on the November 2018 ballot to legalize cannabis in the U.S. state of Michigan. The initiative allows adults 21 and older to possess up to 2.5 ounces (71 g) of cannabis and to grow up to 12 plants at home. [2]
Branch County, Coldwater, and Quincy receive increased marijuana tax revenues from 2023 sales. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ...
Cannabis in Michigan is legal for recreational use. A 2018 initiative to legalize recreational use (the Michigan Regulation and Taxation of Marihuana Act) passed with 56% of the vote. State-licensed sales of recreational cannabis began in December 2019. Medical use was legalized in 2008 through the Michigan Compassionate Care Initiative. It ...
A 2020 study by researchers at UCLA and Yale found that cannabis legalization had led to large amounts of new tax revenue and very little black market cannabis sales in states where the market was well-regulated, but large black markets and lack of tax revenue in states like California with poor regulation. [107]
If marijuana is rescheduled, Section 280E — the Internal Revenue Code that prohibits taxpayers who are engaged in the business of trafficking certain controlled substances from deducting typical ...
On December 17, 2009, Rev. Bryan A. Krumm, CNP, filed a rescheduling petition for Cannabis with the DEA arguing that "because marijuana does not have the abuse potential for placement in Schedule I of the CSA, and because marijuana now has accepted medical use in 13 states, and because the DEA's own Administrative Law Judge has already ...