Why Cannabis Is Actually Great For Tax Purposes

If you think that legalization of cannabis just serves for the benefit of the average weed smoker, then you would be dead wrong. In reality, the cannabis industry is extremely profitable and only becoming moreso. Of the 32 states that have legalized cannabis in the United States, many of those states are reaping the benefits of increased tax dollars coming in from the marijuana industry. It’s no secret that cannabis is still bought and sold in states where it is not legalized; however, it is unfortunate that the state government is not able to collect tax dollars from these sales of cannabis.

In other states where marijuana is legal, however, state governments are seeing a great influx of tax revenue coming in from marijuana dispensaries all over the country. Honestly, the economic crash that wiped through our country hit a lot of states really hard. People lost jobs, and tax revenue went down in basically every state. Thankfully, demand for marijuana skyrocketed during this time, and the subsequent tax dollars that came from cannabis was the saving grace for many state governments amidst the economic crisis caused by the pandemic.

Marijuana was one of the few products in the United States that did not lose demand or incoming revenue due to the pandemic. This is not much of a surprise either, especially because many people were dealing with a lot of financial and emotional stress during that time. 

Some states argue that it is very expensive to actually legalize marijuana. This is because the administrative tasks associated with hiring new workers, setting up dispensaries, and getting everything organized can be quite pricey. However, it’s always worth it in the end due to how extremely lucrative and profitable the cannabis industry is right now. States that legalized marjiuana have seen substantial increases in tax revenue, which is great for both the government and the people in that state! Some states were even able to lift taxes on medical marijuana if they legalized recreational use. In my opinion, this is a huge blessing to all the people who are using marijuana as a prescription drug to manage pain and chronic illness.

Now people that very much need medical marijuana to get through their week do not have to pay hefty taxes, and those who are willing to buy marijuana for recreation can actually do so legally. Of all the states in the United States, you can probably guess which ones have the most tax revenue in marijuana: California, Colorado, and Washington were the top earners by revenue per capita. California earned an astonishing $500 million in tax revenue in 2020, while Colorado and Washington earned an impressive $307 million and $427 million in tax revenue respectively. Think of what states can do with all this money earned from the cannabis industry! 

That statement actually begs the question: what are states doing with the increase in tax dollars from the legalization of marijuana? Well, fortunately for you I did some research to answer that exact question. Washington is first up on the docklet. Of the $427m that was earned in tax revenue from cannabis, $260 million of it was poured into the Washington State Medicaid program.

This is a huge benefit to all the people in that state who are unable to pay for proper medical care amidst the COVID19 crisis. In addition, other portions of cannabis tax revenue was deposited into the State General Fund and into the Department of Social Health and Services. Honestly, there is a lot of good that can be done with the increased tax revenue from the marijuana industry, especially since state governments are always looking for more money.

Cannabis Bloom busters 

Growing weed may seem like a challenge from an outsider’s perspective, with many plant species growing perfectly with the least amount of intervention. You may wonder why cannabis requires so much more so that it doesn’t get messed up. You may wonder if it’s absolutely needed. However, because it’s a good cash crop, many people who grow this are willing to put the money in there to have good plants, and the success in a market that’s thriving is something that promises harvest through the use of a bottle. 

Bloom busters are something that’s commonly used to help cannabis plants get the growth that they want, but there is some controversy surrounding this. Here, we’ll go over what they are, and if they’re worth it. 

The controversy 

There is some controversy with these, even though they are supposedly filled with the nutrients necessary to have resinous buds that have a ton of cannabinoids.  The major controversy involves the redundancy and the salt buildup. Bloom busters do have nutrients via salts, and this is something that is created through reactions of acids with a base, and a lot of these are soluble via water. 

There are tons of salts out there, and while they usually are beneficial due to the nutrients that they offer, and that they can fix a lot of the problems with a plant, a buildup of this is what creates a problem for the item that’s growing. Usually, when it has too much salt, it can impact the nutrients of the plant, making it more acidic, blocking out a bunch of nutrients, and creating nutrient lockout and burning of the tissues in the plants. Because there are such high concentrations of this, some people don’t believe that this is a good option for growing plants. 

Do plants need this? 

Some people may think that they do, the same way that you buy different health and food compounds even though you don’t necessarily need this. Bloom busters aren’t necessarily useless, but they’re not needed in every single circumstance. For example, if you look in the woods, you notice that everything’s growing just fine without the use of fertilizers, since the interactions of the organisms, both micro and macro organisms can definitely help create better nutrient cycling, and this is something that helps all of these plants grow. 

Nitrogen is one f the most common examples, and it’s something that helps a lot of plants grow, and it’s something that a lot of microorganisms, including worms and whatnot, are able to eat.  Usually, in wild plants the nitrogen in the ties us aboveground get broken down. 

Nitrogen is something that does get immobilized in a lot of creatures bodies, and then it gets mineralized to become ammonia, and then become nitrates that are plant types. Those cells that are in microorganisms and other compounds play a huge part of the nutrient cycling, allowing for the plants to thrive. The growers can improve this by keeping their roots within the ground after harvesting, mulching, sowing these crops that are on the cover, and not using tilling.  When cannabis is growing a lot, bloom boosters do become redundant in most cases, but sometimes, this is a good way to boost the system. 

Bloom busters are good for cannabis plants if you want to give the plants a little bit more power to flower better. Those that are starting from nothing, or are beginners, may want to consider using these cocktails for improving the soil life, and through the compounds within, they’re able to create larger, more profound cannabis products that do benefit their yield.