Business
NTRR: Pioneering Cannabis States Collect More Than $200 Million in Taxes as Demand Rises
NTRR: Pioneering Cannabis States Collect More Than $200 Million in Taxes as Demand Rises.
About this update from Neutra Corp.
[{"type":"text","content":"\n \n As Neutra \n Corp. (OTCBB:NTRR) continues to accrue new cannabis clients for its \n cutting-edge suite of horticultural technologies, state revenues from \n the plant are rising fast due to swelling demand. The first \n two states to legalize cannabis for adult use have collectively \n brought in more than $200 million in taxes so far.\n \n \n Colorado, the first government anywhere in the world to set up a \n regulated cannabis marketplace, has collected more than $117 \n million in excise taxes since the new legislation took effect a year \n and a half ago. ABC7 Denver reported this summer that state officials \n say cannabis tax revenues were up nearly 100 percent, with the state \n pulling in $44 million in the first five months of 2015 compared to $25 \n million during the same five-month period last year.\n \n \n In fact, sales and state revenues have been so strong that Colorado now \n faces an unusual prospect: Due to state law, Colorado must waive and \n refund tax collections that surpass projections. On September 16, the \n state will have to waive taxes on adult-use cannabis.\n \n \n While Washington state has allowed cannabis sales for a shorter amount \n of time, that state, too, has brought in about $83 million in excise \n taxes so far. That number is expected by many industry experts to grow \n significantly.\n \n \n The strong market demand evident for cannabis is good news for NTRR as \n the company continues to offer new growing solutions to farmers in \n Colorado, Washington and elsewhere. Alongside joint venture partner Surface \n to Air Solutions (S2O2), NTRR is marketing indoor growing options \n designed to help eliminate the use of harsh chemicals in cannabis \n cultivation altogether, including a plant stimulant, an air-scrubber and \n a self-cleaning hard surface treatment that has been carefully \n engineered to keep plants and surfaces clean and preventing the buildup \n of mold, powdery mildew, botrytis, and mites without the use of \n pesticides and fungicides. The products are already in use in growing \n facilities in the U.S. and Canada.\n \n \n About Neutra Corp.\n \n \n Neutra Corp. is a healthy lifestyle company that specializes in the \n development and marketing of natural wellness solutions, including \n cannabis-related products. By providing a variety of new technologies \n design...