Nevada Senate Committee Prefiles Cannabis Tax Bill

The Nevada Senate Revenue and Economic Development Committee prefiled Senate Bill 41 today, a proposal designed to amend the state’s cannabis tax regulations.

The bill, which will be considered during the January 2025 legislative session, focuses on the establishment of new requirements for cannabis businesses regarding tax permits.

Currently, Nevada law imposes excise taxes on the wholesale and retail sale of cannabis and requires businesses selling tangible personal property, including cannabis establishments, to obtain permits from the Department of Taxation. Senate Bill 41 would expand on these requirements by mandating a new cannabis tax permit system specifically for cannabis businesses.
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Missouri Appeals Court Rules Cities and Counties Can’t Stack Taxes on Marijuana Products

A recent Missouri Court of Appeals ruling will reduce taxes on marijuana products in St. Louis County, following a decision that prohibits local governments from layering additional cannabis taxes on top of one another.

The ruling clarifies that while local governments can impose a 3% cannabis tax, the state constitution prevents cities and counties from stacking those local taxes. Under the law, a locality cannot impose multiple local taxes on the same product.

According to the Missouri Independent, 90 of Missouri’s 114 counties have added a 3% local cannabis tax on top of the state’s 14.98% sales tax. However, in 74 of those counties, individual cities or towns have also levied their own 3% tax on top of the county tax. This practice was at the center of the legal challenge, with the appeals court declaring it unconstitutional.
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The Most Popular Marijuana Strains in Texas Right Now

Here’s a look at the most popular marijuana strains in Texas.

Although marijuana remains illegal in Texas, the state still has a thriving market. This is fueled by the availability of marijuana from nearby New Mexico—where recreational use is legal—as well as online sources, home cultivation, and other means. Last week legislation was filed in both the House of Representatives and Senate that would make marijuana legal for everyone 21 and older.

Using data from our readers and Leafly, we’ve compiled a list of the most popular marijuana strains in Texas for November 2024.
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Study: Hemp Extract With CBD and CBDA May Counteract Cognitive Impairments Caused by Chronic Stress

According to a new study, hemp extract containing cannabidiol (CBD) and cannabidiolic acid (CBDA) may help mitigate the cognitive impairments and brain inflammation associated with chronic stress.

Published in the Journal of Ethnopharmacology and conducted by researchers at Mae Fah Luang University, the study provides new insights into hemp’s potential neuroprotective properties.

The researchers explored the effects of CBD/CBDA-rich hemp extract on male Wistar rats subjected to chronic restraint stress (CRS), a widely used model for studying the impact of prolonged stress on the brain. Stress was induced by immobilizing the rats for six hours a day over 21 days.
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Vermont: Over $100 Million in Legal Marijuana Sales in 2024, Generating Over $20 Million in Taxes

For the third consecutive month marijuana sales in Vermont topped $12 million.

July was the first month in Vermont where marijuana sales reached $12 million. In the months since, the market has maintained sales levels above $12 million.

According to the Vermont Department of Taxes, there was $12.08 million in marijuana and marijuana products sold in September, a decrease from the $13 million sold in August, but a substantial increase from the $10.4 million sold last September. September sales resulted in $1.7 million in tax revenue.
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Report Reveals Millennials Account for Largest Share of Pre-Roll Purchases at 45%, Followed by Gen X

 Custom Cones USA, the company behind the smoking accessories brands DaySavers, Smoke Temple, and Fill-a Blunts, today published a white paper in partnership with Headset that provides the deepest analysis of the cannabis industry pre-roll consumer, looking at everything from demographics, purchasing behaviors, consumer preferences, and price points.

The report found that Millennials account for the largest share of pre-roll purchases by nearly 100%, cornering 45% of market demand at $104 million. In a first-of-its-kind study, they combined survey data from over 900 cannabis users from around the country with Headset analytics to create a comprehensive look at the pre-roll consumer and their buying habits.

What the report found is that pre-roll use continues to rise, with 82% of consumers buying them, and sales revenue is up over 450% over the past 5 years at $3 billion. It also found that consumers have a wide variety of preferences including size and package type, and that more and more are buying premium options like infused pre-rolls (70% of respondents), or pre-rolls with premium filter tips (nearly 60% of respondents). Other notable findings include:

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Michigan Marijuana Sales Hit $269 Million in October, Nearing $10 Billion Total

In Michigan, licensed marijuana stores sold nearly $270 million worth of product in October.

In October, marijuana and marijuana products generated $269,527,217.05 in sales, according to data from the Michigan Cannabis Regulatory Agency (CRA). Nearly all sales were for recreational marijuana, with approximately $1 million coming from medical marijuana. These figures represent a slight increase from the $265 million recorded in September and the $262 million in October 2023.

The year-to-date total for marijuana sales in Michigan is now $2.5 billion. All-time sales are now $9,676,325,456.65, putting the state on track to cross $10 billion in mid-December. All-time sales have resulted in over $1.5 billion in tax revenue.
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Legal Marijuana Sales in Maryland Top $95 Million in October, $944 Million Year-to-Date

Maryland has continued its strong marijuana sales trend with over $95 million sold in October.

According to data released by the Maryland Cannabis Administration, there was $96,122,126 worth of marijuana and marijuana products sold legally in October, a slight increase from the $93 million sold in September. Sales data includes dried marijuana flower and prerolls, as well as a variety of marijuana products including marijuana concentrates, edibles and topicals. Of the $96 million sold, $71 million was purchased for recreational use, with medical marijuana patients purchasing $25 million in product.

The year-to-date total for marijuana sales in Maryland is now $944 million, putting the state on track to pass the $1 billion mark in November. The top month for the year reminds August, with $100.6 million in marijuana sales.
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Illinois Launches $7M Cannabis Research Institute

Illinois is investing $7 million in a new Cannabis Research Institute (CRI) to examine marijuana’s effects on individuals and communities.

The funding, from the state’s Department of Human Services, will support the institute’s mission to provide comprehensive research on the scientific and socio-economic impacts of cannabis use and production.

The CRI, set to be led by Reginald “Reggie” Guadino, will operate from the University of Illinois’ Discovery Partners Institute in Chicago. It is temporarily located at the Illinois Medical Center, previously used as a COVID-19 testing site on the city’s West Side.
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New Study Reveals Promise of Minor Cannabinoids for Psychiatric Disorders

A new systematic review from Utrecht University in the Netherlands explores the potential of minor cannabinoids in treating psychiatric disorders.

Published in European Neuropsychopharmacology, the study offers fresh insight into how these lesser-known compounds might aid in addressing conditions such as anxiety, depression, and addiction.

The research highlights the growing interest in cannabinoids for mental health treatment, fueled by evidence linking the endocannabinoid system to psychiatric disorders. While cannabidiol (CBD) and Δ9-tetrahydrocannabinol (Δ9-THC) have been extensively studied, the cannabis plant contains approximately 120 minor cannabinoids that have received far less attention. According to the study, “Although some displayed promising pharmacological profiles, research on their application for psychiatric disorders is fragmented.”
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