Volume 1, Issue 7
The Newsletter’s Aim
Weeding the News – a breakdown of the month’s cannabis news, important events, and top-notch accounting tips – aims to entertain and inform you as we watch the cannabis industry transform before us.
What’s on the Docket
California goes back and forth on a cannabis tax hike. Several states put their taxed cannabis revenue to good use; the Deputy Director for California NORML weighs in on California’s tax situation. And in honor of Black History Month, we hear from another esteemed cannabis professional.
Cannabis in Los Angeles and Beyond
President Trump has stated his willingness to give drug dealers the death penalty. Read more on Marijuana Moment.
According to a recent report, cannabis sales helped add over $115 billion to the country’s economy last year, reflecting its broader economic impact. Read more on Flowhub.
Californians may not see a tax increase on cannabis after all if Assemblymember Matt Haney has his way; The legislator has introduced a bill that would adjust the current tax rate for cannabis in California. Read more.
Another report states the cannabis technology market should keep growing, with an expected growth of 25.6% CAGR from 2025 to 2032. Read more on Coherent Market Insights.
“Cal NORML has been advocating for tax relief for the cannabis industry for years; it’s sorely needed, especially for medical patients. Instead, this year we must fight off an excise tax increase on a product that is already severely and unfairly overtaxed. We hope Californians will join us at our Lobby Day on March 24 in Sacramento for a show of strength and unity against even higher taxes.”
–Ellen Komp, Deputy Director, California NORML
A new bill put forward by an Illinois Senate committee would prevent police from searching vehicles based solely on the smell of cannabis. Read more on Capitol News Illinois.
Arkansas schools may also benefit directly from cannabis sales, as the state’s governor has signed a bill that would see cannabis tax revenue fund school breakfasts. Read more on Marijuana Moment.
Meanwhile, Michigan is putting cannabis profits to good use: the state is distributing nearly $100 million in cannabis tax revenue to 302 local entities and tribes with licensed cannabis businesses. Read more on Michigan.Gov.
Sen. Gene Yaw has recently stated that he views the prohibition of cannabis as a “disaster” and thinks the plant should be taxed like alcohol or tobacco. Read more on Marijuana Moment.
The Hemp Beverage Alliance will host a Hemp Beverage Expo in Atlanta this July. Read more on PR Newswire.
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Abroad
Our neighbor to the north (Canada) saw cannabis sales shoot up 10% from November to December to the tune of C$499.7 million. Read more on New Cannabis Ventures.
Switzerland is on its way to legalizing cannabis after a vote by the National Council’s Social Security and Health Committee earlier this month. Read more on Cannabis Now.
Upcoming Events
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The Situation Report
The Mississippi Court of Appeals has upheld a life sentence for Allen Russell, who was convicted of possession of marijuana in 2019. The sentence was based on his status as a habitual offender due to previous convictions Read more on the Associated Press.
Seattle Police are investigating a break-in at “The Reef,’ a cannabis shop located in the Capitol Hill neighborhood. The thieves attempted to crash a car through the storefront, heavily damaging the business in the process. Read more on Capitol Hill Seattle.
The DEA’s cannabis rescheduling hearing faces delays into 2025 amid legal challenges, while Supreme Court cases (Canna Provisions Inc. vs Garland, and, Medical Marijuana, Inc. v. Horn) could reshape federal oversight and liability risks.
Industry Insight: Equity
Naomi Granger, CPA, MBA, Cannabis Accountant
“Equity in cannabis isn’t just about handing out licenses and funding to formerly incarcerated entrepreneurs. True success requires structured business training, financial literacy, and sustained access to resources. Without these, we’re setting people up to fail rather than empowering them to thrive.”
Much-Needed FAQs
Instead of answering questions that have been asked all the time, we offer a few questions that should be asked. If asked, the questions would save you a lot of time and trouble. Trust us.
