What’s being termed
a “tax bonanza” due to a cannabis windfall for Colorado has more states
exploring legalization, potentially leading to large-scale market growth for
support. Industry companies including Neutra Corp. are in the middle of the
discussion.
Far exceeding
earlier estimates, new Colorado budget numbers predicted last week that
cannabis taxes could add more than $100 million to the state’s coffers. A
budget proposal from Gov. John W. Hickenlooper estimated that Colorado’s
cannabis industry could reach $1 billion in sales in the next fiscal year.
In the state of
Washington, where retail cannabis sales will begin this summer, forecasters
estimated last week that cannabis could bring the state nearly $190 million in
taxes for the four-year period beginning in 2015.
While the New York
Times was calling these numbers a “tax bonanza” exceeding expectations, other
states around throughout the country are eagerly considering new legislation of
their own to capitalize on the growing demand for the cannabis product. That’s
good news for Neutra Corp., which is marketing and developing new technologies
to assist growers and patients in the nation’s rising medical cannabis sector.
Alongside partners
Vertigo Technologies, NTRR is working to deliver a turn-key solution for indoor
horticulturalists that can be used to produce any number of indoor crops, but
could be especially useful for growers in Colorado and other booming
horticultural markets where high yields and speedy production are vital to
business interests. Earlier this month, NTRR acquired Diamond Anvil Designs
(DA), a cutting-edge developer of customizable vapor pens that can be adapted
to deliver a variety of nutraceutical substances, including dry herbs, oils,
and waxes.
Twenty states and
Washington, D.C., have legalized marijuana for medical use, with two
states—Colorado and Washington—legalizing recreational use, as well. The
dispensaries and other MMJ businesses have for years been forced to deal
largely in cash because banks feared legal risks associated with serving them.
Recently, the U.S. government issued rules intended to increase the
availability of financial services to marijuana businesses licensed and
regulated by the states.
By providing new
technologies designed for safe and reliable access to cannabis in approved
markets, Neutra Corp. anticipates unprecedented growth in 2014 alongside
Cannabis Science, Inc.
Neutra Corp. is a
healthy lifestyle company that specializes in the development and marketing of
natural wellness solutions, including cannabis-related products. For more
information about the company visit www.neutracorp.com.
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