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I met today’s guest at the Michigan Cannatech Expo. Ahmed Hassouna a cannabis attorney at Navara Law. Novara is a full-service firm representing businesses in heavily regulated industries, including growers, processors, provisioning centers, and ancillary businesses such as insurers, realtors, and professional service firms. In this episode, we talk at length about regulatory and legislative restrictions in the industry, issues with the lack of federal legalization, and the progress the industry is making in the state of Michigan. If you are looking for assistance with an application, licensing, operations, and compliance this is the episode for you. Cannabis law for dispensaries, processors, and growers. That’s the topic for today.
State of Michigan Cannabis Law Business 2023
The Good (michigan.gov/cra) Cannabis Regulatory Agency
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- Medical and adult use is subject to a 6% sales tax
- Adult use is subject to a 10% excise tax
- FY 2021: Approx $103M sales tax; $122M excise tax = $225M total
- FY 2021: Approx $140M sales tax; $186M excise tax = $325M total; approx. 30% increase from 2021 to 2022 tax revenue; up over $300M total from 2019 to 2022.
- Pays for admin and enforcement of MRTMA; remainder to munis with stores; School Aid Fund, MI Transportation Fund
- Almost 30K employees in licensed biz as of March 2023; approx. double 15K in October 2021
- Retail sales of almost $250M monthly (shift from medical to adult use)
How to Connect with Ahmed Hassouna
Reach out and connect with the links below:
Bio: https://www.novaralaw.com/professionals-ahmed-hassouna
LinkedIn: https://www.linkedin.com/in/ahmed-hassouna-43b12b6/
Firm LinkedIn: https://www.linkedin.com/company/novaralaw/
Novara Law has its own podcast! Property Tax and Cannabis Grow Operations
- Listen on Apple Podcasts: https://podcasts.apple.com/us/
podcast/novara-law-podcast/ id1607886298?i=1000602662722
Michigan Cannatech Expo
The Michigan Cannatech Expo was held May 3rd and 4th at the Soaring Eagle Resort. It is the largest Cannabis Business Expo and Conference in the Midwest. As the midwest continues to evolve in the Cannabis business, hemp, laws, and regulations, it was an opportunity for industry professionals to gain information on this challenging and expanding market. The tradeshow contained over 40,000 Square feet of the top Cannabis Industry Suppliers exhibiting the latest in Cannabis production technology. Attendees were able to see the latest cultivating and processing technologies for cannabis and hemp. The conference also hosted seminars led by industry experts covering licensing, production, banking, hiring, and more. This yearly cannabis community is an event worth attending.
Cannabis Advocate Podcast
The Cannabis Advocate podcast advocates for businesses in the cannabis industry and explores the unique challenges they face. Despite hurdles in legislation, regulation, and culture, there are tremendous opportunities for growers, manufacturers, and retail sellers of cannabis products. Many of these issues are unique to the cannabis industry. This podcast speaks to these common concerns and shares stories of success.
This is a production of Habanero Media. https://habaneromedia.net
To subscribe to the podcast go to https://cannabisadvocatepodcast.com/listen/ If you have a question or comment, https://cannabisadvocatepodcast.com/contact
We would love to hear from you!
