GREEN MARKET REPORT: California Cannabis Debt Bubble on Verge of Bursting
By John Shroyer: Source: https://www.greenmarketreport.com/california-cannabis-debt-bubble-on-verge-of-bursting/ Wave of business failures is on the way if the debt bubble explodes. A slow but steady years-long trend of licensed marijuana companies in California not paying all of their bills might be nearing its climax, industry insiders warned, and a wave of business failures is on the way if […]
New Responsibilities for Cannabis Retailers Beginning January 1, 2023
The California Department of Tax and Fee Administration (CDTFA) sent out a reminder regarding upcoming changes and new responsibilties for cannabis retailers. Beginning January 1, 2023, the responsibility for collecting and paying the cannabis excise tax to CDTFA shifts from distributors to cannabis retailers. 1. Obtain a cannabis retailer excise tax account In December 2022, […]
Unified Cannabis Enforcement Taskforce targets illegal indoor cultivation in industrial warehouses in Southern California in second operation
In continuing its aggressive crackdown against illegal cannabis operators threatening the environment, communities, public health, and the legal market, the Unified Cannabis Enforcement Taskforce (UCETF) took recent actions to shut down unlicensed indoor cultivation operations in large, industrial warehouses located in the San Fernando Valley. Led by the Department of Cannabis Control (DCC), California Department […]
Cannabis licensee listening sessions provide framework for ‘track and trace’ improvements
After soliciting feedback from licensed cannabis business operators and others on the state’s cannabis tracking system during listening sessions that spanned a year, the California Department of Cannabis Control (DCC) is rolling out a slate of technical improvements, trainings, and increased functionality that will benefit licensees, local governments, and state partners and continue to support […]
DCC applauds President Biden’s announcement on cannabis reforms
The Department of Cannabis Control applauds President Biden’s announcement today to pardon federal convictions for simple cannabis possession and review the federal classification of cannabis under the Controlled Substances Act. This is an important and significant step to repair the harms of the failed War on Drugs, which have plagued communities and individuals for generations. […]
California Department of Cannabis Control solicits proposals for cannabis-related research
The California Department of Cannabis Control (DCC) is soliciting proposals for research projects that advance public understanding of cannabis and its legalization. DCC will fund up to $20 million in cannabis-related academic research by California public universities and is prioritizing topics that will be instrumental in addressing gaps in scientific knowledge and guiding future policy […]
California takes action to combat illicit cannabis grows & transnational criminal organizations
Taking aggressive action to protect communities, consumers, and the environment alike, Governor Gavin Newsom has directed the creation of a new multi-agency, cross-jurisdictional taskforce of enforcement agencies designed to better coordinate agencies combatting illegal cannabis operations and transnational criminal organizations. This new “Unified Cannabis Enforcement Taskforce,” which has been actively working since late summer, is […]
MJBIZDAILY: California cannabis company’s default highlights debt woes facing state’s MJ businesses
By Chris Roberts Source: https://mjbizdaily.com/california-cannabis-company-default-highlights-debt-woes-facing-states-businesses/ In what observers say is a sign that California’s struggling legal cannabis industry is slouching toward a long-predicted “extinction event,” a major Southern California brand in the middle of ambitious expansion plans was recently sued by its landlord after falling behind on millions of dollars in lease payments. In July, […]
New cannabis bills signed by Governor Newsom
Governor Gavin Newsom announced that he has signed several measures related to California’s cannabis laws. Though the state has made significant progress since the legalization of cannabis, local opposition, rigid bureaucracy and federal prohibition continue to pose challenges to the industry and consumers. The Governor is calling on legislators and other policymakers to redouble efforts […]
DCC breaks $1 billion mark in amount of illegal cannabis seized just over a year after consolidation
Recent enforcement activities in Los Angeles and Riverside Counties have officially pushed the Department of Cannabis Control over the $1 billion mark for illegal cannabis seized from illicit operations. This important milestone was reached through close collaboration with local, state, and federal partners and furthers California’s efforts to go after activities that harm communities and […]