In their latest announcement, the Department of Consumer Protection has lifted the veil on their lucrative world of pot-peddling, proudly parading numbers that'll make even the most stoic of accountants reach for their stash. Brace yourselves, folks, for a tantalizing glimpse into the weed wonderland. In a period that could only be described as "from November 1, 2023, to … [Read more...] about November’s Connecticut Cannabis Carnival Crop Report: State’s Green Delight or Just Another “High” Statistic?
CT MMP
Ray, Hercules carve out pieces of CT’s new recreational cannabis industry
Just about a year into the launch of the state’s adult-use cannabis market, numerous new marijuana-related businesses have sprouted up across the state, with more expected to come online in 2024. Two entrepreneurs making an impact on the industry are Hartford resident Kennard Ray and former Hartford city councilwoman and attorney Tiana Hercules. In February, Ray partnered with … [Read more...] about Ray, Hercules carve out pieces of CT’s new recreational cannabis industry
As CT cannabis industry tries to grow, IRS and prices could force some dispensaries to close
As Connecticut nears the one-year anniversary for retail sales for recreational cannabis, lenders and tax advisors are predicting a number of companies could end up in receivership — despite a new Connecticut law meant to help those entrepreneurs survive an IRS wrinkle that would chew up any slim profits they are making. On Wednesday, the Connecticut Cannabis Chamber of … [Read more...] about As CT cannabis industry tries to grow, IRS and prices could force some dispensaries to close
Slow Rollout of Connecticut’s Adult-Use Cannabis Program Starting to Spook Entrepreneurs
Optimism in Connecticut is beginning to fade as the industry faces a slow and challenging rollout, with only a fraction of licensed businesses fully operational. As of Nov. 1, the state’s online licensing database showed that 55 cannabis companies are waiting for licenses. Forty have received provisional licenses, according to the Hartford Courier. However, only 10 … [Read more...] about Slow Rollout of Connecticut’s Adult-Use Cannabis Program Starting to Spook Entrepreneurs
Lack of product variety blunts Connecticut’s adult-use marijuana sales
Connecticut’s adult-use marijuana market has hit some potholes less than a year after launch, with overall sales of recreational and medical cannabis dipping in October – an uncommon development for a new market. A lack of product selection for consumers and medical patients is prompting shoppers to continue visiting stores in neighboring Massachusetts, a concern local … [Read more...] about Lack of product variety blunts Connecticut’s adult-use marijuana sales
Connecticut foresees higher revenue from taxed cannabis
Some may argue that Connecticut went to pot by legalizing marijuana.Whether or not that is the case, new figures from the state show pot sales aresweetening the pot at the state's treasury.Connecticut's Department of Revenue projects the state will collect in excess of $19 million in tax revenue from THC products this year.Since sales by dispensaries began at the start of the … [Read more...] about Connecticut foresees higher revenue from taxed cannabis
Legal pot sales in CT on upward trend
(WFSB) - The Department of Revenue projected Connecticut would make $19.1 million in tax revenue from THC products in 2023. The state is about $3 million short of the projected tax revenue for the year. “It really doesn’t bother us,” said Department of Revenue Commissioner Mark Boughton. “It’s just a projection.” Starting in January, people could legally purchase recreational … [Read more...] about Legal pot sales in CT on upward trend
A CT panel meant to study the sale of ‘homegrown’ cannabis may not even meet before its deadline
A law approved earlier this year as a follow-up to Connecticut's landmark 2021 legalization of adult-use cannabis included a requirement that a task force appointed by Gov. Ned Lamont and legislative leaders meet a January 2024 deadline to study and recommend procedures for those who grow marijuana in their homes to possibly sell their crops in the retail marketplace. But … [Read more...] about A CT panel meant to study the sale of ‘homegrown’ cannabis may not even meet before its deadline
Connecticut Cannabis Expo 2024 coming to Mohegan Sun in February
The third annual Connecticut Cannabis Expo comes to Mohegan Sun Feb. 24 and 25, featuring a cannabis business convention, trade show and the X Cup, a judged cannabis competition. The events will offer networking opportunities and panel discussions about the current cannabis political climate, existing and new legislation business opportunities, and visitors can attend … [Read more...] about Connecticut Cannabis Expo 2024 coming to Mohegan Sun in February
Cannabis shop opening in Hartford
HARTFORD, Conn. (WTNH) — Another adult-use cannabis shop is opening in Hartford. Higher Collective will hold its grand opening on Wednesday at its location at 1396 Park St., according to the company. It’s the company’s fourth retail location in Connecticut, joining stores in Killingly, Willington and New London. It plans to add three more locations early next … [Read more...] about Cannabis shop opening in Hartford
