ERVA NEWS – Know more, Feel better
  • Business & Industry
    • Market Analysis & Trends
    • Investment opportunities
    • Company Profiles & Statistics
    • Mergers & Acquisitions
    • Marketing Strategies & Supply Chain Insights
  • Health & Wellness
    • Medical Research & CBD Benefits
    • Treatment Options & Dosage Guidelines
    • Mental Health Applications & Patient Testimonials
    • Wellness Routines, Athletic Recovery & Sleep Improvement
  • Science & Technology
    • Cannabinoid & Terpene Research
    • Cultivation Techniques & Genetic Studies
    • Extraction Methods & Bioavailability
    • Lab Testing & Cultivation Science
  • Legal & Policy
    • State, Federal & International Laws
    • Regulatory Changes & Compliance Guides
    • Licensing, Banking Regulations & Taxation
    • Social Equity, Local Ordinances & Import/Export Rules
  • Lifestyle & Culture
    • Consumption Guides & Product Reviews
    • Recipes & Storage Tips
    • Event Coverage & Travel Guides
    • Celebrity News, Community Stories, Art & Music
  • Shop

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Florida Billionaire Donates $20M to Candidates that Oppose Cannabis Legalization Effort

December 8, 2024

New York Officials Release Multi-Year Cannabis Industry Report

December 8, 2024

Vice Presidential Nominee Tim Walz Has A Rating from NORML for Cannabis Policy

December 7, 2024
Facebook Twitter
Facebook Twitter
ERVA NEWS – Know more, Feel better
Sunday, June 1
  • Business & Industry
    • Market Analysis & Trends
    • Investment opportunities
    • Company Profiles & Statistics
    • Mergers & Acquisitions
    • Marketing Strategies & Supply Chain Insights
  • Health & Wellness
    • Medical Research & CBD Benefits
    • Treatment Options & Dosage Guidelines
    • Mental Health Applications & Patient Testimonials
    • Wellness Routines, Athletic Recovery & Sleep Improvement
  • Science & Technology
    • Cannabinoid & Terpene Research
    • Cultivation Techniques & Genetic Studies
    • Extraction Methods & Bioavailability
    • Lab Testing & Cultivation Science
  • Legal & Policy
    • State, Federal & International Laws
    • Regulatory Changes & Compliance Guides
    • Licensing, Banking Regulations & Taxation
    • Social Equity, Local Ordinances & Import/Export Rules
  • Lifestyle & Culture
    • Consumption Guides & Product Reviews
    • Recipes & Storage Tips
    • Event Coverage & Travel Guides
    • Celebrity News, Community Stories, Art & Music
  • Shop
ERVA NEWS – Know more, Feel better
Home»Business & Industry»Report: Adult-Use Cannabis Tax Revenues Decreased from 2021-22
Business & Industry

Report: Adult-Use Cannabis Tax Revenues Decreased from 2021-22

May 23, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
Report: Adult-Use Cannabis Tax Revenues Decreased from 2021-22
Share
Facebook Twitter LinkedIn Pinterest Email

Grownup-use hashish tax revenues within the U.S. declined barely from 2021 to 2022 from $3.867 billion to $3.775 billion, in response to a Marijuana Coverage Challenge (MPP) report. It marks the primary time the general revenues have decreased because the first states legalized hashish for grownup use in 2014. 

The lower is probably going as a consequence of falling tax revenues within the six states “with essentially the most mature legalization legal guidelines.” States with more moderen adult-use legalization applications generated extra tax income in 2022 than in 2021, the report says. 

“Causes for declining tax income embody the widespread availability of intoxicating artificial cannabinoids produced from hemp, that are largely unregulated and never subjected to hashish excise taxes; decrease costs in a number of states as a consequence of oversupply; gross sales starting in extra states — decreasing demand from guests in additional mature states; shoppers having much less disposable revenue as a consequence of inflation; and — in California — the state decreasing the tax price to make authorized hashish extra aggressive. Hashish companies additionally face important challenges as a consequence of ongoing federal prohibition, which drives up prices of hire, banking, and virtually every little thing else, and leads to an unlimited federal tax burden. These burdens don’t apply to intoxicating cannabinoids derived from hemp.” — MPP, “Hashish Tax Income in States that Regulate Hashish for Grownup Use”  

Andrew Livingston, Vicente LLP director of economics and analysis, added that the COVID-19 pandemic additionally performed a task within the decreased revenues as hashish gross sales spiked throughout pandemic-related lockdown orders. 

“Individuals couldn’t spend their cash going to concert events, going out to dinner, or trip journey. So many individuals elevated their consumption of shopper packaged items,” Livingston stated within the report. “Hashish was a product that would nonetheless be bought and made the issue of staying at house for months on finish watching TV exhibits and flicks a bit extra gratifying.” 

In all, since 2014, adult-use hashish tax revenues have topped $15.115 billion. 

Get day by day hashish enterprise information updates. Subscribe

Source link

AdultUse cannabis Decreased Report Revenues Tax
Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Previous ArticleIowa Democrats Unveil Adult-Use Cannabis Legalization Bill
Next Article High-Potency Amanita Gummies: A Legal, Psychedelic Adventure

Related Posts

Florida Billionaire Donates $20M to Candidates that Oppose Cannabis Legalization Effort

December 8, 2024

New York Officials Release Multi-Year Cannabis Industry Report

December 8, 2024

Vice Presidential Nominee Tim Walz Has A Rating from NORML for Cannabis Policy

December 7, 2024

Delaware Receives 1,260 Adult-Use Cannabis Applications

December 7, 2024

Comments are closed.

Our Picks

Florida Billionaire Donates $20M to Candidates that Oppose Cannabis Legalization Effort

December 8, 2024

New York Officials Release Multi-Year Cannabis Industry Report

December 8, 2024

Vice Presidential Nominee Tim Walz Has A Rating from NORML for Cannabis Policy

December 7, 2024

Delaware Receives 1,260 Adult-Use Cannabis Applications

December 7, 2024
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Legal & Policy

Florida Billionaire Donates $20M to Candidates that Oppose Cannabis Legalization Effort

December 8, 20240

In an August 2 op-ed, Ken Griffin, the billionaire investor and CEO of Florida-based Citadel…

New York Officials Release Multi-Year Cannabis Industry Report

December 8, 2024

Vice Presidential Nominee Tim Walz Has A Rating from NORML for Cannabis Policy

December 7, 2024

Delaware Receives 1,260 Adult-Use Cannabis Applications

December 7, 2024
logo

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Social mendia

Facebook-f Twitter

Categories

  • Business & Industry
  • Health & Wellness
  • Science & Technology
  • Legal & Policy
  • Lifestyle & Culture
  • Business & Industry
  • Health & Wellness
  • Science & Technology
  • Legal & Policy
  • Lifestyle & Culture

Our Picks

Florida Billionaire Donates $20M to Candidates that Oppose Cannabis Legalization Effort

December 8, 2024

New York Officials Release Multi-Year Cannabis Industry Report

December 8, 2024

Vice Presidential Nominee Tim Walz Has A Rating from NORML for Cannabis Policy

December 7, 2024
© 2024 ervanews.com. All rights reserved.