February 2025 - CannabisNewsWire

FridayFeb 28, 2025 4:20 pm

420 with CNW — Major New Mexico Cannabis Firm Files for Bankruptcy

In spite of the widespread use of cannabis, businesses in the industry have faced significant challenges. Despite the continued growth in retail sales, many brands find it challenging to differentiate themselves in a market that largely views cannabis as a commodity. Even some of the biggest players have filed for bankruptcy due to these difficulties. A prime example is Planet 13, a well-known cannabis retailer in Las Vegas that features a massive retail space, a restaurant, and a consumption lounge. However, despite its success in Nevada, the company has had trouble replicating that achievement in other locations. No cannabis brand…

FridayFeb 28, 2025 10:00 am

One Marijuana MSO is Reaping from Little-Known IRS Tax-Credit Scheme

A barely-known IRS credit scheme has allowed a multi-state marijuana operator (MSO) to earn millions of dollars in tax credits. Although cannabis firms remit hundreds of millions of dollars in taxes annually, federal law prevents them from claiming tax credits and deductions for operational expenses. However, Jushi Holdings took advantage of an obscure tax credit scheme to earn a little over $5 million. The Boca Raton-based vertically integrated MSO was owed around $6 million worth of Employee Retention Credit (ERC) by the IRS but would have had to wait for several months to claim the credit. Rather than buckle down…

ThursdayFeb 27, 2025 4:20 pm

420 with CNW — Crackdowns by Oklahoma Authorities Don’t Seem to Be Slowing Illicit Marijuana Operations

For years, Darrin Varnell, Pawnee County Sheriff, had received alarming reports about a cannabis farm near Maramec—men carrying assault rifles, a worker fleeing in fear, and even an incident where a man with a machete chased a naked woman. So when the DEA raided the site in January 2023, Varnell felt a sense of relief. The operation was shut down, and agents seized $45,000 in cash, more than 17,000 cannabis plants, and a firearm. The farm’s manager, Jiubing Lin, was arrested and later pleaded guilty to conspiracy charges tied to a broader Chinese money laundering network. However, the relief was…

ThursdayFeb 27, 2025 10:00 am

Study Shows NYC Youth are Accessing Marijuana from Unlicensed Outlets

A recent Columbia University study has revealed that youths in New York City have access to marijuana through unlicensed cannabis outlets. Even though New York State laws prohibit individuals under the age of 21 from accessing recreational marijuana, the study found that NYC youth are using illicit sellers to circumvent the state’s cannabis laws and access the drug before they are eligible. New York State legalized adult-use cannabis in 2021 and officially launched recreational marijuana sales in late 2022. Like in every other state with a regulated cannabis market, licensed cannabis retailers in New York State are legally required to…

WednesdayFeb 26, 2025 4:20 pm

420 with CNW — New Hampshire Assembly Passes Adult-Use Marijuana Legalization Bill

The New Hampshire legislature recently approved a proposal to legalize the personal use and possession of recreational cannabis. However, the bill does not include provisions for the regulated sale of marijuana. The legislation, known as HB 75 and sponsored by Representative Kevin Verville, was passed in the House through a voice vote in Thursday’s afternoon session. If enacted, the measure would eliminate criminal penalties for adults aged 21 and above who possess or use cannabis. Despite this, the proposal does not establish a regulated market for sales. Public consumption would remain prohibited under the law. Individuals under 21 would still…

TuesdayFeb 25, 2025 4:20 pm

420 with CNW — Ohio Residents Voice Their Opposition to GOP Efforts to Thwart Voter-Approved Marijuana Reforms

Several Ohio residents have voiced their opposition to a proposed measure that seeks to alter the state’s cannabis regulations. Senate Bill 56, introduced last month by Senator Steve Huffman, has received pushback, with 40 people submitting testimony against it during a Senate General Government Committee hearing. “This legislation is not about keeping consumers safe,” stated Don Holztrager of Chronic Wellness LLC. “It’s about enabling corporate monopolies, consolidating control, and stifling competition.” Committee Chair Senator Kristina Roegner presented a revised version of the bill that eliminates sections related to taxation and revenue allocation. Initially, the legislation proposed increasing the tax on…

TuesdayFeb 25, 2025 10:00 am

East Coast Cannabis Industry Gets Ready for the New England Cannabis Convention in Boston

Traders, dealers, businesses, and enthusiasts of the cannabis industry are invited to attend the New England Cannabis Convention in Boston from March 21 to March 22, 2025. Operating since 2015, NECANN events are referred to as “MJBizCon East.” The second largest B2B event in the U.S., NECANN witnesses thousands of attendees, with the largest gathering of licensed operators, exhibitors, buyers, and leaders, for the East Coast cannabis market. These events are considered the home base for the Northeast cannabis industry. The Boston NECANN Convention 2025 will also host the prize-giving ceremony for the Boston NECANN Cup winners on March 22,…

TuesdayFeb 25, 2025 10:00 am

Michigan to Distribute Almost $100m from Cannabis Taxes to Communities

The Department of Treasury in Michigan announced on Friday that it will be distributing approximately $100m in cannabis tax revenue to 302 local communities and tribes. Detroit stands out as it will receive over $3m, the largest amount that any community in the state will receive. Every eligible county and municipality will get just over $58,000 for each retail store or microbusiness licensed to conduct operations within that jurisdiction. This sum was calculated based on the excise tax of 10% levied on all adult-use marijuana sales. This unit share is nearly the same as what was distributed last year when…

MondayFeb 24, 2025 4:20 pm

420 with CNW — New Florida Bill Wants Patients with MMJ Cards to Grow Cannabis at Home

While the push to legalize recreational cannabis in Florida did not succeed in the November election, lawmakers are now focusing on expanding access to medical marijuana. A proposed piece of legislation, Senate Bill 546, aims to give medical cannabis patients the ability to cultivate their own marijuana plants at home. If passed, the measure would allow registered patients to grow up to two plants for personal medical use. For many patients relying on medical cannabis, accessibility remains a challenge, especially in remote areas of Florida. Some people live hours away from the nearest dispensary, making it difficult to obtain their…

FridayFeb 21, 2025 4:20 pm

420 with CNW — Germany’s Growing Marijuana Industry Holds its Breath as Elections Loom

Germany is set to hold its national elections on February 23, 2025, a pivotal event that will determine whether the Social Democratic Party (SDU) retains leadership or whether power shifts to the Christian Democratic Union (CDU). The outcome of this election is of particular interest to the country’s emerging marijuana industry, which has seen significant legislative progress under the SDU and its governing allies. The most significant changes included reforms that greatly expanded access to medical marijuana, leading to a surge in patient numbers. Additionally, although limited, a new recreational cannabis legislation was introduced, opening discussions about the possibility of…