Let’s face it: someone is gonna hit it big in the legalized marijuana business. The question is who, when, and will you be along for the ride. We here at Higher Ground in no way suggest you put your hard-earned money into Marijuana stocks. (In fact, the Stock Market in general seems quite the crap-shoot). But that doesn’t mean we’re not paying attention….
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Holiday Gift Guide for the Cannabis Connoisseur
Live from the GreenPole, Higher Ground hit the Hot Pot Product Bazaar for the High Holidays! Check out the greatest gifts on Earth for cannabis connoisseurs! And if you’re lucky, Sativa Santa will pay you a visit this year! (Make sure to leave him milk and cookies…) Thanks to the wonderful sponsors and MJBA (Marijuana Business Association)!
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GOOD LORD, AS IF CAFFEINE ISN’T ENOUGH OF A BUZZ
This cup of joe promises to give you a different sort of morning jolt.
A company in Washington state will introduce marijuana coffee this summer.
Mirth Provisions‘ cold brew coffee contains 20 milligrams of THC, the active ingredient in marijuana, per 11.5-ounce bottle.
Mirth founder Adam Stites said he has been developing the marijuana coffee concept for about a year, working at first on recipes in his kitchen.
The product for sale will give the drinker “more of a head high, more energizing,” Stites said.
Mirth also will sell sparkling sodas that contain THC, with flavors such as lemon ginger and pomegranate. The drinks will cost about $9-$11, Stites said.
Washington residents will have to wait to buy the drinks until the first marijuana retail stores open, as soon as early July. Only Washington and Colorado have legalized recreational marijuana.
Under Washington’s marijuana edibles rules, a product cannot contain more than 100 mg of THC, and a single serving cannot contain more than 10 mg.
Stites said he decided to “err on the side of being conservative” with the THC dosage.
“We recommend people drink half the bottle, wait an hour to see how they feel, and then continue drinking the rest,” he said.
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The Tax Revenue From Legalize Weed Is Pouring Into Colorado
(Denver Post) Colorado recorded its biggest recreational marijuana tax haul yet in April, topping more than $3.5 million in sales and excise taxes, according to numbers released Monday.
In all, the state’s recreational marijuana stores sold more than $22 million worth of product in April, likely boosted by the 4/20 marijuana holiday that brought hundreds of cannabis tourists to town. Overall, though, medical marijuana sales continued to outpace recreational sales, with lower-taxed medical-marijuana stores doing more than $31 million in sales during the month.
So far this year, Colorado has brought in nearly $11 million in sales and excise taxes on recreational marijuana. The total take of recreation and medical marijuana taxes and fees is nearly $18 million.
The new numbers were released on the same day that marijuana activists announced plans to sue the state over recreational pot taxes. According to a copy of the lawsuit sent to the media, the activists argue that the taxes are unconstitutionally high.
Shoppers at recreational marijuana stores pay 12.9 percent in general and special state sales taxes, as well as a 15 percent excise tax that is applied at the wholesale level.
The lawsuit argues those rates violate the constitutional provision voters approved in 2012, which specified that recreational marijuana should be taxed “in a manner similar to alcohol.” The activists say alcohol taxes are much lower.
Attorney Rob Corry, who is representing the activists, said he filed the lawsuit Monday.
More marijuana dispensaries continue to open. As of June 3, more than 200 marijuana dispensaries were licensed, according to the state Department of Revenue. That’s about half of the more than 500 total shops statewide that are eligible to obtain a retail marijuana sales license.
