Cannabis derived taxes are politically popular and have nudged many skeptical lawmakers to accept cannabis legalization in their state. States like Illinois generate hundreds of millions of dollars from recreational MJ sales, California rakes in over $1 billion annually. New York’s emerging cannabis market is also expected to eventually yield over $1 billion annually.
Minnesota’s new cannabis tax took effect on July 1, and includes hemp-derived edibles and beverages. Revenues from this category are much lower than expected with the first month bringing in $594,461 from the associated 10 percent sales tax.
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12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...