NTRR: ‘Tax Bonanza’ Could Convince More States to Embrace Cannabis Market
TAMPA, Fla.--(BUSINESS WIRE)--A cannabis windfall being labeled a “tax bonanza” for Colorado has more states investigating legalization, potentially leading to large-scale market growth for support-industry companies including Neutra Corp. (OTCBB: NTRR).
New Colorado budget numbers predicted last week that cannabis taxes could add more than $100 million to the state’s coffers—far more than earlier estimates. 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.
With the New York times calling these numbers a “tax bonanza” exceeding expectations, other states around the U.S. are doubtlessly considering new legislation of their own to capitalize on the growing demand for cannabis. That’s good news for NTRR, which is marketing and developing new technologies to assist both 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 for whom high yields and speedy production are especially crucial to business. 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.
By providing new technologies designed to ensure safer, more reliable access to cannabis in approved markets, Neutra Corp. plans to enjoy unprecedented growth in 2014 alongside Cannabis Science, Inc. (OTCBB: CBIS), Medical Marijuana Inc. (OTCBB: MJNA) and Terra Tech Corp. (OTCBB: TRTC), delivering technological advancements in the cultivation and processing of cannabis in approved markets.
About Neutra Corp.
Neutra Corp. is a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions, including cannabis-related products. For investing information and performance data, please visit www.neutracorp.com.
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