Welcome to Senior Cannabis Digest. This week we look at tips for new cannabis consumers, how to get the most out of your edible experience, what the cannabis sector pays in taxes and much more. Enjoy.
Tips For New Consumers
No one is too old to be considered a “beginner,” particularly when it comes to cannabis. For example, to help first-time cannabis consumers in Maryland, which has just legalized recreational cannabis, Emilie Kyler has written a brief “guide for beginners” which appeared in the online publication FoxBaltimore.com.
For her article, Kyler interviewed Darren Weiss, president of the cannabis company Verano. He began his comments with the standard wisdom that bears repeating: Folks who are new to cannabis need to go “slow and low.”
Said Weiss,”We recommend to all first-time users that, whatever it is they take, and however it is they take it, they start by taking a small amount that is not incredibly potent and wait to see how they feel before taking more.”
Along with his “slow and low” dictum, Weiss also suggested that new consumers should not be afraid to try and experiment with the different products because, “everyone’s body metabolizes cannabis differently.”
He also said he believes a vape pen can offer new consumers an excellent way to feel what it is like “to get high for the first time.” That’s because, he contends, a vape pen allows people a short-term opportunity to experiment with cannabis. Said Weiss, “After a few puffs, you will be able to feel the high. If you don’t like the way it feels, you can stop and the high will wear off in 20-30 minutes.”
He says it’s crucial for consumers to pay attention to their body and learn how their body interacts with the plant.
Weiss also advises new consumers to keep a cannabis journal so they can record what they like and don’t like about the cannabis experience, noting what they consumed, how much they took of the product, when they took it, when they started to feel the effects, and how they felt.
According to Kyler, Weiss said keeping the journal can also be helpful when consumers go back to a store or dispensary because they can share their notes with a ‘budtender’ who may be able to help them explore other product options.
For more information, including a glossary of different types of cannabis products, we recommend reading the article by Emilie Kyler that appeared in the June 30, 2023 issue of foxbaltimore.com, an online publication of the local Fox News television station.
Spotlight on Edibles
Despite their growing popularity among mature consumers and others, many individuals still don’t know how to get the most out of that very special piece of chocolate they just purchased at the dispensary down the block.
To help, Bill Shapiro has penned an article for Esquire that offers seven tips on how to “optimize” your edible experience.
Here are three of his suggestions:
• Take your edible with food in your belly
Shapiro acknowledges that taking an edible on an empty stomach may bring the high on faster, but, he says, if you consume it with food—either a few minutes before or after a meal—the high will be higher and may even last a bit longer.
• What you eat matters
Think diner food that’s high in fat. According to Shapiro and several experts he interviewed, the key is to get some fat into your system because enveloping the cannabinoids in dietary fats helps your liver absorb and metabolize them faster and more efficiently. Alex Kato, who manages research and development at Kiva, a California-based edibles pioneer, told Shapiro “some studies have shown that eating a high-fat meal before ingesting an edible can increase the concentration of cannabinoids in your bloodstream by up to four times.”
• The physical size of your dispensary-bought edible does not matter.
Shapiro emphasizes that dosing in commercially available edibles sold at dispensaries is much more precise these days than the doses in products that were available just a few years ago. So, he says, what matters is the THC content listed on the label. That said, he also believes it’s possible that the fat in a chocolate edible might even contribute to your experience, especially if you’re not able to find some bacon.
We are only sharing three of his tips because we don’t want to deprive you of the pleasure of reading his very entertaining and informative article on your own.
We strongly urge you to read Bill Shapiro’s article on edibles in the June 29, 2023 issue of Esquire.com. Heck, read the article even if you don’t intend to eat an edible. Shapiro’s writing is that good.
www.esquire.com/lifestyle/a44348630/how-to-choose-edible-weed-thc/
Stats of the Week
When it comes to paying taxes, many believe cannabis companies are doing their fair share, and then some.
This week’s magic number is $1.8 billion. That’s how much companies in the cannabis sector overpaid in federal taxes in 2022 compared to non-cannabis businesses, according to an analysis by industry research firm Whitney Economics. And, Whitney Economics noted, “This excess is forecasted to increase to $2.1 billion in 2023.”
The staff writers at MJBizDaily make the point that this “overpayment” is a consequence of how cannabis companies are taxed under Section 280E of the federal Internal Revenue Code. Section 280 E prevents companies considered to be “traffickers of Schedule 1 and Schedule 2 controlled substances” from deducting business expenses in the same way as other businesses can—and do.
The analysts at Whitney say this effectively results “in federal income tax liability calculated based on gross income, not net income.”
Beau Whitney, the research company’s chief economist, believes that because of the 280E provision, between 2020 and 2030, taxes paid by cannabis companies will equal roughly $65.3 billion. At the same time, if Section 280E were abolished, Whitney forecasts total taxes paid of roughly $30.1 billion over the same period.
That’s a difference of about $35.2 billion—funds that could be used for reinvestment, technology upgrades and, eventually, directed back to investors.
To learn more, we urge you to read the article written by staff writers at MJBizDaily.com. It appeared in the May 8, 2023 issue of the publication.
mjbizdaily.com/marijuana-industry-overpaid-1-8-billion-in-federal-taxes-in-2022-analysis-shows/?
Cannabis Quote of the Week
“The NCAA Committee on Competitive Safeguards and Medical Aspects of Sports is recommending the removal of cannabis from its list of prohibited substances. Likewise, it says that drug testing for college athletes should be limited to performance-enhancing drugs, and that cannabis does not enhance performance.
This is one more signal that we are finally nearing the end of the failed “War on Drugs.” With college sports getting on board, is there hope for the Veterans Administration and the Department of Justice?
Fifty years ago, Oregon started a revolution becoming the first state to decriminalize cannabis possession. Since then, attitudes towards cannabis have changed from public skepticism and fear to surging popularity. Growing acknowledgement by medical professionals of marijuana’s usefulness to treat an array of conditions and diseases cannot be ignored.
Some of the most outspoken supporters of medical cannabis are retired professional athletes. Former football players have described how cannabis was one of the few remedies that help control the pain that resulted from the punishment inflicted on their bodies after years of training and games. Slowly, surely, America is coming to its senses on over a century of misdirected efforts to demonize and regulate the use of cannabis.”—Rep. Earl Blumenauer (D-OR)
Congressman Blumenauer’s comments are taken from an op-ed he wrote for the online publication Marijuana Moment. He is one of the staunchest advocates for cannabis reform in Congress.
In his editorial he goes on to describe some of the economic consequences of the federal prohibition against cannabis.
For example, he makes the point that marijuana use is the number one cause of failed drug tests. This in turn, he contends, has contributed to the shortage of drivers, in industries such as trucking, and workers in the railroad sector—both of which have consequences for the economy in general. The prohibition, he notes, is also felt by prospective employees, such as young people who would both like to work, and who are needed on the job.
Said Congressman Blumenauer, “The insanity even reached the White House, where young people qualified to work at the highest levels of government were tripped up over past cannabis use. This is ironic for an administration that won the heavily contested presidential election for Arizona largely because an overwhelmingly popular vote on cannabis legalization passed.”
He goes on to make the point that ending the federal prohibition on cannabis would have a wide range of benefits, such as new products and uses developed for medical cannabis, new opportunities for employment in the cannabis sector for those seeking jobs and millions of dollars of increased state and local tax revenue.
To learn more, we suggest reading the op-ed by Rep. Earl Blumenauer (D-OR) in the July 3, 2023 issue of Marijuana Moment.net.
Cannabis News and Notes
The country of Luxembourg, while small in area, has taken the big step of becoming the second member nation of the European Union to legalize cannabis for personal use.
According to TG Branfalt, reporting for Ganjapreneur, under the new law, adults can grow up to four cannabis plants at home and publicly possess up to three grams of cannabis flower.
However, it should be noted that public use and possession remains outlawed and can lead to fines ranging from $27 to $500.
Branfalt points out that Luxembourg—officially the Grand Duchy of Luxembourg— legalized medical cannabis in 2018 and legalized cannabis cultivation for adults in October 2021 but lawmakers had not codified the rules nor agreed to personal possession limits which has delayed the implementation of the reforms. The law must still be published in the Official Gazette before taking effect.
Unfortunately, travelers who wish to enjoy cannabis and the night life of the city of Luxemburg—twice named European Capital of Culture— may have to wait a bit. Branfalt reports that Luxembourg has yet to establish channels for legal sales or social use. It’s believed the next phase of cannabis reform in the nation will involve the creation of regulated systems for cannabis production and sales managed by the government.
To learn more, we encourage you to read the article by TG Branfalt in the June 30, 2023 issue of Ganjapeneur.com.
www.ganjapreneur.com/luxembourg-finalizes-cannabis-legalization-reforms/?
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com and at 347-528-8753.
