Talk about a windfall. Great Barrington’s take, through taxes, of its share of recreational marijuana sales in town since the beginning of the year is roughly $1 million.

Theory Wellness, the town’s only retail cannabis shop, reported second-quarter gross sales of a little more than $10.3 million.

Nick Friedman, Theory’s co-founder and chief financial officer, told the selectboard in a July 5 email that Theory would mail a check to the town for $309,217.62, fulfilling its obligation to pay a community impact fee to the town of 3 percent of its sales, as the company agreed to do in a previously negotiated host community agreement.

Click here to read the complete article

Terry Cowgill ~ TheBerkshireEdge.com

Recent News Articles

Monday October 14

FBI: Cannabis Arrests Rise for Third Straight Year, Outpace Arrests for All Violent Crimes

in Cannabis News

by Bruce Kennedy - Editor in Chief

The total number of persons arrested in the United States for violating cannabis laws rose…

1201 hits

Tuesday October 15

The push to unionize cannabis workers, explained - Cannabis News

in Finance

by Bruce Kennedy - Editor in Chief

Weed workers across the country are unionizing, and California just made it easier for them.

735 hits

Tuesday October 15

Cannabis And Tourette Syndrome: Current Understanding - Cannabis News

in Medical News

by Bruce Kennedy - Editor in Chief

In a survey of 64 TS patients, 25% indicated they had used cannabis, with over…

697 hits

Tuesday October 15

Former FDA Chief Wants Federal Government To Regulate State Marijuana Markets - Cannabis News

in Politics

by Bruce Kennedy - Editor in Chief

Former Food and Drug Administration (FDA) Commissioner Scott Gottlieb said on Monday that the federal…

822 hits

Tuesday October 15

Thailand to Host World Ganja Festival 2020 - Cannabis News

in World News

by Bruce Kennedy - Editor in Chief

The event organizers say the World Ganja Festival 2020 will create new opportunities and provide…

922 hits