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Illinois’ Cannabis Tax Revenue Touches $52 million Mark After Six Months Only

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Illinois is one of the states where the use of marijuana is legal. While medicinal marijuana has been legal for around 5 years, the use of recreational marijuana was legalized rather recently. The provincial government legalized recreational marijuana in January 2020.

As of now, the people of Illinois are allowed to have up to 5 cannabis plants at home. However, these are for medicinal purposes only. For recreational use, plants have to be commercially licensed first.

It won’t be wrong to say that this legalization has been a blessing for the economy of the state. In only six months since its legalization, Illinois saw a $239 million worth sale of adult-use cannabis. While the exploding cannabis sale is something to behold in itself, Illinois earned $52 million in tax revenue, extending from January to July. No doubt, it is a milestone for the state nonetheless.

According to some sources Illinois Department of Revenue was able to collect a little over $34.5 million in excise taxes in the same period. That coupled with the $18 million in sales taxes led to a cumulative total just tipping over the $52 million marks.

The fiscal 2020 budget proposed by Gov. Pritzker had a rather humble estimate of $28 million from cannabis sales. However, recent developments in the cannabis demand and supply chain showed almost an 85% increase in the revenue collected.  The main reason behind these booming sales embedding acceptance among the masses. However, cannabis remains an illegal drug federally.

Recently, the state reported sales of over $44 million in just a month of May. While the sales went off the charts and broke all previous records, it didn’t just settle there. The following month, even higher sales of worth more than $47.5 million of adult-use cannabis were reported.

The launch of Sunnyside dispensary in South Beloit was yet another contributor to these sales. The South Beloit dispensary is the largest recreational marijuana dispensary in all of Illinois. The dispensary also brought a lot of investment into the state as well.

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Image Credit: businesswire.com

Tax Breakdown

The Cannabis Regulation and Tax Act (CRTA) umbrellas all types of taxes on any cannabis sales. Under this act, cannabis has two types of taxes imposed on itself. Firstly, they applied a state-imposed cultivation privilege tax of 7% to all gross receipts by a cultivator to a dispensary. Secondly, they also applied a potency based tax to the product.

A standard 20% tax applies to all cannabis-infused products. However, products containing 35% or less THC concentration have a 10% tax applied to them. Offerings containing more than 35% THC come with a 25% tax tag.

In addition, municipalities can also have a 3% tax cut, if they so wish.

So, where will all the money go?

The IDFPR said that it would deposit $25.9 million into the general fund of the state. This is 72% more than what the fiscal budget managed to foresee. Moreover, one-fourth of these revenues would go to the areas affected the most by ‘war on drugs’.

There’s also an R3 initiative. It means to restore, reinvest, and renew. Under the CRT, 25% of the taxes would go to this initiative. The state can then use these funds in a number of ways.

It looks like the miracles of cannabis legalization are showering upon Illinois. The revenue generated would definitely go a long way in paving the way for the state’s economy. If they distribute the generated revenue with equity, the effects would soon start to bloom.

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Cannabis Gummies – The Best Cannabis Snack

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Cannabis gummies

Cannabis gummies are part of individuals’ life for multiple reasons, including their effect on pain relief, depression, and other conditions. Over the years, people’s consumption of weed evolves. Previously they ate weed brownies, homemade cannabis cookies, and other homemade dishes. Now people have more variety for the consumption of weed with the advent of soft drinks, candies, and other readily available foods containing marijuana. 

Gummies, mints, tarts, and candies are the new trends in the market. Moreover, gummies sales have risen remarkably in the market as they enable the consumption of weed legally. Other reasons make these little weed chewable stand out in the market.

Weed Gummies Are User Friendly 

Gummies contain cannabidiol (CBD) oil, which is one of the compounds present in cannabis or weed. It develops a positive impact on multiple mental conditions. Thus, patients with anxiety disorders, depression, and cancer-related symptoms use it as prescribed by their physician. Moreover, it has neuroprotective properties that improve the mental health condition of individuals.

ALSO READ: Cannabis Industry- A Way to Business or Social Justice in Society

Eating CBD in the form of gummies is easy for administration, and individuals can consume it on their own. CBD-gummies are quickly chewable, and individuals can accurately take a specific dose at each administration. 

Eating weed-chocolate and other foods incorporated with cannabis provide the drug, but its dose varies. On the other hand, gummies will provide the same dosage at each self-administration. 

Cannabis Gummies Any Time

The thing with various dishes is that you cannot consume the same meal for days and need alteration to taste something new. You can eat brownies or cookies once a week or every other day. But consuming them daily is not easy as you will lose appetite for the same dish. 

However, CBD-gummies have no such problem as individuals can eat them anywhere, whenever they want. Moreover, there is always room for gummies, unlike occasional eats like mints and tarts. 

The calorie intake is also lower in gummies consumption than other desserts like brownies, cookies, etc. Chef Matt Kulczycki is the edible product manager for CannaCraft, California. According to Chef Matt Kulczycki, gummy provides an easy way to eat cannabis. Also, a quick way to snack on something.

Longer Shelf-Life Of The Cannabis Snack

Usually, baked foods get old with time and are no longer fresh for consumption. But gummies and candies comparably have a longer shelf life, and they remain free of contamination for a longer duration if it is within its wrapping. 

Moreover, risks of melting, deforming, and flavor alterations are lower with weed-gummies than other snacks like chocolates, brownies. Also, gummies do not require any specific storage condition and remain in form for a longer duration wherever you take them. 

ALSO READ: How to Make Ice Cream Infused with Cannabis

Evolving Is Part Of Life

Evolution occurs naturally over the years and brings changes in nature. Similarly, with time science makes progress and formulates more advanced technologies. Like that, food items and their formulation also change with time. 

Moreover, the type changes depending upon the manufacturing procedure, and the state of cannabis used for forming the Gummies. Gummy may contain any one of the following: pectin, gelatin, distillate, live resin, for manufacturing a different type. Some of them also contain additives like melatonin and terpenes. 

Manufacturers alter production methods and product formulas to formulate weed gummies of great taste, efficacy, and reasonable cost. According to Chef Kulczycki, the cost of adding CBN and CBG is so high that its difficult to add them to the product. Sleep-gummy and fruit chews, similar to Starburst and Mamba, are ready for launch in the market. Sleep gummy contains 5mg of THC and other compounds of medicinal importance. 

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Weed Illegal Possessors Fined By Police

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Weed Illegal Possessors Fined By Police

As health care professionals condemn the use of weed illegally, the situation has become more critical during the coronavirus pandemic.

Illegal Activities Late At Night In Hampshire  

According to the Island Echo, three friends from different backgrounds were busted by police for not following lockdown-instructions at night on 22nd January.

Police stopped a trio of friends in Hampshire. The police discovered that not only they are breaching COVID-19 lockdown. But they have a large amount of a controlled drug. The three men did have a wish-list purchase, but the Hampshire Constabulary officer was not convinced with it.

Having weed illegally in one’s possession is against health laws. As a result of breaching COVID-19 lockdown and health regulations, each of the three was fined £200 ($348).

Maggie Blyth is the assistant chief constable of Hampshire. According to Blyth, authorities reintroduce the national restrictions. Further, she added that there is a need to take immediate action against breaching the law. Multiple groups and individuals have gone against the instructions of authorities for controlling coronavirus pandemic.

ALSO READ: Does Cannabis Affect Your Brain?

Government Policies For Coronavirus Lockdown

The government makes videos for public awareness and recommends them to stay within their homes or apartments. Moreover, because one of every three individuals is asymptomatic. Such individuals are carriers of coronavirus and have no symptoms of infection.

Authorities have given clear instructions recommending people avoid public gatherings and unreasonably leave during the lockdown.

Coronavirus is spreading exponentially. The U.K. government recommends individuals stay at home unless it is an emergency or an urgent matter. However, there are few other situations in which outdoor visits are permissible.

People can purchase necessities for life or do work relating to services that cannot be done from home. Furthermore, exercising within home premises with a trainer is permissible if there is a distance of two meters between individuals.

However, purchasing class B drugs that are controlled drugs is not legal according to law. Moreover, having an immense amount of weed or cannabis without prescription is illegal and can result in five years imprisonment, a fine, or both.

ALSO READ: Cannabis Industry- A Way to Business or Social Justice in Society

Legal Professionals Remarks On Weed (Cannabis) 

According to Sara Zborovski, it is not permissible to promote weed or cannabis under section 16, even for educational purposes. There are certain boundaries within which information about weed can be provided for medical purposes. The age of people who are getting educational information about cannabis also matters. However, any information regarding cannabis for promoting its sale in public is not permissible.

According to Matt Maurer, education about cannabis is continuing under strict rules without any promotional campaigns encouraging its sale. According to Paul Lewin, the law permits discussion and teaching of the medical benefits of cannabis within limitations.

However, cannabis health benefits are remarkable in improving the condition of patients with epilepsy. But illegal purchase and possession of drugs are punishable under the law. Moreover, individuals can face years of imprisonment for illegal-activities regarding drug sale and purchase.

Sometimes individuals with illegal drug activities have to pay heavy-fines. Moreover, it depends upon the number of controlled drugs like cannabis found at the crime scene. There is a possibility of receiving imprisonment and a fine by the culprits from the court.

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Does Cannabis Affect Your Brain?

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Does marijuana affects your brain?

Cannabis has a lot of effects on human body-positive and negative too. Science is focusing on the unrevealed face of marijuana. There are immense benefits of medical marijuana use but recreational use can ultimately lead to addiction and then the adverse effects can come into notice. According to the pieces of evidence, it seems that cannabis may have benign effects on the structure of the brain and not producing lethal damage. Cannabis abuse is a very common problem worldwide. With the on-going pandemic situation, the usage of cannabis has increased. More dispensaries are opening up and the stock is also rising. These days cannabis is the most common drug of abuse.

Cannabis and schizophrenia

The relationship of cannabis with schizophrenia and the effects of smoking marijuana are evident. The changes in the brain could lead to psychosis. According to recent findings the heavy use of cannabis results in some adverse consequences like the occurrence of acute psychotic episodes and the development of severe schizophrenia in people. After terminating the use of cannabis episodes of schizophrenia are seen. The recent studies have proven to show a controversy about heavy usage of cannabis whether it can cause irreversible brain damage. In addition to this, a controversy has arisen about the use of cannabis resulting in a chronic psychosis due to the alteration in the brain caused by cannabis.

Experimentation on Rats

An experiment was performed on rats which provided enough evidence that exposure to marijuana can result in long-term or permanent adverse alteration in the brain. During the experiment, the rats were exposed to THC before their birth. Soon after birth or during adolescence different problems and notable issues with specific learning and memory tasks came into evidence. Exposure to THC is interlinking with the structural and functional change changes in the hippocampus.

ALSO READ: 5 Surprising Health Benefits of Using CBD Gummies

Effect of marijuana on the brain

If you imagine the impact of marijuana on brain structure in humans so it shows conflicting analysis. Few studies suggest that using marijuana daily can alter connectivity and reduce the volume of specific regions of the brain. These regions of brain are involved in functions like memory, learning, and impulse control. Other studies suggest that there are no significant structural differences in the brains of people who don’t use drugs. The use of marijuana resulting in the impairment and alteration of the drugs is highly dependent on the age when a person began using marijuana.

In addition to this the age and the time duration for which the person has been using also matters. Some studies also suggest the decline in IQ is link with the use of marijuana especially when they start using it in adolescence. On the contrary, not all studies show the same evidence. Few studies suggest that using cannabis does not affect IQ level. Along with using cannabis multiple factors come into play in lowering the IQ level like genetics, age of use, frequency of use, duration of use, and environment.

ALSO READ: Possibility of Brain Disorders in COVID-19 Patients

THC, a Major Component of Weed

The major psychoactive ingredient, THC stimulates the part of your brain that responds to pleasure, food, and sex. This triggers the chemical, dopamine which leads you towards a euphoric and relaxed feeling. Vaping, smoking, drinking, and eating weed may leave you in different states. It may leave you afraid, anxious, and panicked. Also if you have any mental health conditions it might worsen. It can also drive you towards the use of clinical depression.

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