MJBizMag August 2022 - 23
INDUSTRY DEVELOPMENTS
California
Gov. Gavin Newsom signed the 2022-23 state budget into law, enabling a significant shift in cannabis taxes.
The finalized budget eliminates the state marijuana cultivation tax and caps the 15% excise tax
where it's at for a minimum of three years. In 2025, the Legislature could revisit the issue and decide
whether an adjustment is warranted.
Social equity companies will pay a lower excise tax rate of 12% and receive a $10,000 tax credit.
Separately, cannabis retailers in Los Angeles will soon be able to display an official emblem that
signals they are operating a state-licensed business. The emblem will be given only to regulated
delivery and marijuana storefronts that have passed the proper city inspections.
Connecticut
More than 37,000 applications were entered into lotteries for an initial round of 56 adult-use
marijuana licenses in Connecticut, including 23,487 applications for 28 social equity licenses.
Application windows were staggered, and lottery dates have not yet been announced.
Also, Gov. Ned Lamont signed legislation not only to crack down on marijuana " gifting " but also
to allow cities to impose a $1,000 fine for failing to pay sales taxes on such transactions. The action
was taken to combat illicit-market cannabis bazaars that have popped up since Connecticut legalized
adult-use marijuana sales in 2021.
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MJBizMag
Table of Contents for the Digital Edition of MJBizMag
From the Editor
Five Questions With Paul Weaver
Hemp Notebook
Company News
Industry Developmentts
DEFINE YOUR BRAND
Industtry Players
Unboxed
Our Advertisers
Seed to CEO
MJBizMag - Cover1
MJBizMag - Cover2
MJBizMag - 3
MJBizMag - 4
MJBizMag - 5
MJBizMag - 6
MJBizMag - 7
MJBizMag - From the Editor
MJBizMag - 9
MJBizMag - Five Questions With Paul Weaver
MJBizMag - 11
MJBizMag - Hemp Notebook
MJBizMag - 13
MJBizMag - Company News
MJBizMag - 15
MJBizMag - 16
MJBizMag - 17
MJBizMag - Industry Developmentts
MJBizMag - 19
MJBizMag - 20
MJBizMag - 21
MJBizMag - 22
MJBizMag - 23
MJBizMag - 24
MJBizMag - 25
MJBizMag - 26
MJBizMag - 27
MJBizMag - 28
MJBizMag - 29
MJBizMag - 30
MJBizMag - 31
MJBizMag - 32
MJBizMag - 33
MJBizMag - DEFINE YOUR BRAND
MJBizMag - 35
MJBizMag - 36
MJBizMag - 37
MJBizMag - 38
MJBizMag - 39
MJBizMag - 40
MJBizMag - 41
MJBizMag - 42
MJBizMag - 43
MJBizMag - 44
MJBizMag - 45
MJBizMag - 46
MJBizMag - 47
MJBizMag - 48
MJBizMag - 49
MJBizMag - 50
MJBizMag - 51
MJBizMag - Industtry Players
MJBizMag - 53
MJBizMag - 54
MJBizMag - 55
MJBizMag - Unboxed
MJBizMag - Our Advertisers
MJBizMag - Seed to CEO
MJBizMag - Cover3
MJBizMag - Cover4
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