Cannabis Law Report

FEBRUARY 19, 2019

We have discussed in other Posts our concerns about inadequacies in the information the California Department of Tax and Fee Administration [“CDTFA”] has distributed relating to the Cannabis Excise Tax [“CET”] and Cannabis Cultivation Tax [“CCT”] as well as inadequacies in the tax return CDTFA adopted [1]. CCT is collected from cultivators.

Collective 45

Collective Cultivation Education Dispensary 45

Cannabis Law Report

APRIL 17, 2022

When the law first went into effect in 2018, there were licensing delays and a wave of communities enacting bans on retail sales of cannabis, which forced many cannabis businesses to close. The group drew that estimate from the website Weedmaps.com, which attempts to map every cannabis business. Black market thriving.

Dispensary 52

Dispensary Business Retail Cultivation 52

MJ Business Attorneys

JULY 24, 2019

It is a scenario that frustrates legal cannabis businesses and law enforcement alike. In May of this year, authorities conducted what they describe as the largest collective marijuana bust in Colorado’s history, seizing over 80,000 plants and making 42 arrests. In 2018, California’s legal cannabis sales totaled $2.5

Legalization 178

Legalization Marijuana Policy Business 178

Canna Law Blog

DECEMBER 21, 2022

Recently, we’ve seen a suit related to false advertising , but we’re also seeing more traditional business litigation around partnership issues and contract breaches. GRG Collective ), the allegations between the parties centered around Phase II licensing in the City of Los Angeles. In Los Angeles, the repeal of Prop.

Cultivation 77

Cultivation Cannabis Collective Education 77

SpeedWeed

MARCH 8, 2021

There are five important “categories,” that require company leaders’ utmost focus and attention as they launch a compliant cannabis business in a newly legal state. Non-compliant businesses face the risk of being shut down and attract negative attention to the cannabis industry. Cutting across these categories is the team.

Compliance 52

Compliance Compliance Business Seed-To-Sale 52

Cannabis Law Report

OCTOBER 12, 2019

The Finnish Cannabis Association has launched an information campaign on the benefits of the plant, as well as a citizen referendum to decriminalize the personal use, possession and small-scale cultivation of cannabis, and to allow Cannabis clubs. Source: [link]. Other Resources. Wikipedia: [link]. Finnish Cannabis Assoc : [link].

Collective 40

Collective Research and Development Legalization Hemp 40

Cannabis Law Report

JUNE 7, 2021

Eight of the laws passed in 2020 or 2021, and in seven of those states, licensing and tax collections have not yet begun. Colorado already had a developed medical cannabis regulatory system, and many businesses were able to transition to having both a medical and an adult-use counter. of the population enrolled. 46,104,922. April 2021.

Marijuana 91

Marijuana Retail Collective Programs 91

Cannabis Law Report

MAY 28, 2022

California has taken in nearly $4 billion in marijuana tax revenue since the state’s adult-use market launched in 2018, the Department of Tax and Fee Administration (CDTFA) reported on Thursday. But figures over the past year and a half are “flat,” legislative analysts reported.

Cultivation 52

Cultivation Legislation Collective Policy 52

The Blunt Truth

AUGUST 18, 2022

New Approach ND collected signatures well in excess of the number needed to put the initiative on the ballot, and the Secretary of State certified the measure. Legalization lost at the ballot box in 2018, so we’ll see how it fares in 2022. Those previously convicted of marijuana crimes who have business experience will have priority.

Collective 110

Collective Consumption Events Legalization 110

SpeedWeed

FEBRUARY 20, 2021

Oliver shares her personal experiences and lessons learned as a small business owner in the cannabis industry with Cannabis Business Times. RELATED: 6 Cannabis Business Lessons We Learned Too Late. I would have considered it a cost of doing business rather than a nice-to-have. I wish I knew… 1.

Business 52

Business Dispensary Hemp Agriculture 52

SpeedWeed

FEBRUARY 25, 2021

Three years after the launch of California’s legal marijuana market, cannabis tax experts warn the industry should expect state regulators to ramp up tax enforcement, noting that several audits of MJ businesses are already underway. There will certainly be more excise and cultivation audits, as those audit efforts are just beginning.

Marijuana 52

Marijuana Compliance Compliance Collective 52

Canna Law Blog

DECEMBER 22, 2019

The Agriculture Improvement Act of 2018 (“ 2018 Farm Bill ”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. Today, we cover Nebraska. 2-501 et seq.), ” NE St. §

Hemp 67

Hemp CBD Agriculture Cultivation 67

Cannabis Law Report

JANUARY 7, 2020

Because Taxpayer is a corporation, the Tax Court’s decision will be reviewed by the Court of Appeals for the Ninth Circuit, which is the circuit in which Taxpayer’s principal place of business is located. But what is the distinction between a business expense deduction and an adjustment for COGS? Deductions. Cost of Goods Sold.

Business 66

Business Marijuana Seed-To-Sale Patients 66

Cannabis Law Report

SEPTEMBER 23, 2022

That is three times the amount the state collected in 2018. “In In fiscal year 2021 , the Alaska Department of Revenue collected $30 million in marijuana taxes, three-times the amount collected in 2018. “In The state charges a $50 per ounce excise tax on marijuana sales from warehouses to retailer.

Recreational 52

Recreational Marijuana Collective Retail 52

Cannabis Law Report

SEPTEMBER 7, 2021

It has been is grown under Good Agricultural and Collection Practices (GACP), manufactured under EU Good Manufacturing Practices (EU GMP), and conforms with Therapeutic Goods (TGO 93) Order 2017. Named after an Australian wildflower, the medicine has a THC content of 16% and is available for sale in 15g packs through pharmacies nationwide.

Seed-To-Sale 103

Seed-To-Sale Supply Chain Research and Development Medicine 103

Canna Law Blog

AUGUST 30, 2023

High taxes , a staggering credit crunch and collections problems , receiverships , rampant local prohibition, overregulation by the state, and the raging illegal market are just a few. Essentially, NIMBYs thrive on confrontation and manufacturing lots of arguments to eliminate or stop progress when it comes to cannabis business development.

Wellness and Beauty 100

Wellness and Beauty Environment Cannabis Cultivation 100

Veriheal

SEPTEMBER 9, 2021

They follow in the footsteps of Vermont, which became the first legislative-driven legal cannabis state back in 2018. Collectively, the four aforementioned newly legal states are projected to earn $4.5 Let’s take a look at some key business details and projections for those newly legal states: 1. Connecticut.

Legalization 109

Legalization Recreational Business Retail 109

Canna Law Blog

JANUARY 6, 2023

The year 2022 was a busy one for the California cannabis industry, with everything from tax reform to the beginning of enforcement. Under state law, CDTFA collected both a cultivation tax and an excise tax. Essentially, the cultivation tax was wiped off the books starting July 1, 2022. California hints at enforcement?

Collective 74

Collective Hemp Cannabis Programs 74

Canna Law Blog

FEBRUARY 20, 2024

Unfortunately for the Attorney General, virtually no federal prosecutors went after state legal cannabis businesses and Sessions was essentially fired by Trump the day after the 2018 midterm elections. In 2018, only a few months before Sessions was out of a job, Trump said that he’ll “probably” support the STATES Act.

History 90

History Legislation Cannabis Legalization 90

Cannabis Law Report

NOVEMBER 29, 2021

Management believes that StateHouse, which is expected to trade under a new symbol (CSE: STHZ), will be the largest and most developed cannabis platform in the state of California with superior retail, brands, processing, manufacturing, distribution and cultivation. billion by 2025[3]. 3 ArcView 8 th Edition estimate.

Business 52

Business Retail Cultivation Cannabis 52

Cannabis Law Report

MARCH 10, 2020

With the establishment of Collective Growth Corp., It’s a dream that may soon be realized by Collective Growth Corp., Collective Growth Corp. Whaling tells Hemp Grower the idea behind Collective Growth Corp. Collective Growth Corp. Collective Growth Corp. In his new role with Collective Growth Corp.,

Supply Chain 64

Supply Chain Hemp Collective Agriculture 64

Cannabis Law Report

JANUARY 15, 2019

On June 13, 2018, the United States Tax Court published its Opinion in Alterman & Gibson v. Memo 2018-83. In addition, the taxpayer must have exercised ordinary business care and prudence in determining whether to obtain additional advice based on the taxpayer’s own information and knowledge. See their capabilities reel at.

Business 58

Business Dispensary Cannabis Compliance 58

SpeedWeed

FEBRUARY 25, 2021

Of all the license types available to cannabis business operators, the microbusiness license is among the least issued and discussed. Countless cannabis businesses of varying sizes are vertically integrated, with many holding licenses for multiple activities at the same location. Mandatory licensing launched in early 2018.

Cultivation 52

Cultivation Retail Policy Business 52

Connor & Connor PLLC

AUGUST 30, 2018

However, marijuana remains illegal under Federal law, and this creates an uncertain landscape for marijuana businesses in the preparation of their Federal income tax returns and in handling an IRS audit. In addition, marijuana businesses must be aware of cash handling issues. Section 280E, Business Expenses, and Costs of Goods Sold.

Business 49

Business Marijuana Banking Collective 49

Canna Law Blog

DECEMBER 5, 2019

Financial institutions that work with marijuana businesses must conduct due diligence to ensure that marijuana businesses are complying with state law. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.

Banking 64

Banking Hemp Compliance Compliance 64

Veriheal

SEPTEMBER 21, 2022

We take pride in our in-house cultivation, global varieties, and a full lineup of strain-specific products.” Back in 2018, Thailand became the first Asian country to permit medically prescribed cannabis. Thanks to the new law, Thai residents can legally cultivate the plant for personal consumption. . Hemp2o Water.

Seed-To-Sale 91

Seed-To-Sale Cannabis Tincture Cultivation 91

Cannabis Law Report

JULY 29, 2022

“The federal tax burden on legal cannabis businesses is highly punitive and very difficult to navigate while trying to achieve profitability. On November 29, 2018 , the Court disallowed these allocations, holding that they were instead deductions barred by the IRS 280E Tax Code. About StateHouse.

Collective 52

Collective Cultivation Patients Retail 52

Canna Law Blog

JULY 14, 2019

The Agriculture Improvement Act of 2018 (“ 2018 Farm Bill ”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. Hemp Cultivation. 64”) was passed.

Hemp 81

Hemp CBD Agriculture Cultivation 81

Cannabis Law Report

NOVEMBER 28, 2019

The Outpost at Kushtopia is one business that’s received a violation notice from the state for past due taxes. But he said Alaska’s tax structure is hurting cultivators. Izon had hoped to expand his cultivation operation, but he said the money’s not there. Ronald Hand owns the business off Knik Goose Bay Road.

Cultivation 59

Cultivation Retail Collective Concentrates 59

SpeedWeed

MARCH 12, 2021

She joined HG and Cannabis Business Times as associate editor in November 2019 after working for GIE Media’s Recycling Group of magazines. Salpy Boyajian joined Flower One in October of 2018 following the acquisition of NLV Organics (NLVO), a renowned consumer brand and luxury cultivator she co-founded in 2014. Theresa Bennett.

Retail 52

Retail Dispensary Media Supply Chain 52

SpeedWeed

MARCH 8, 2021

She joined HG and Cannabis Business Times as associate editor in November 2019 after working for GIE Media’s Recycling Group of magazines. Salpy Boyajian joined Flower One in October of 2018 following the acquisition of NLV Organics (NLVO), a renowned consumer brand and luxury cultivator she co-founded in 2014. Theresa Bennett.

Legalization 52

Legalization Dispensary Media Supply Chain 52

Cannabis Law Report

JANUARY 10, 2020

However, the strong growth of marijuana sales and new business entrants began to slow in 2017 and 2018, suggesting the industry may be moving into a more mature stage of development. Industrial hemp remained illegal federally until late 2018, when the 2018 Farm Bill legalized it with regulation and oversight from the U.S.

Banking 59

Banking Marijuana Collective Recreational 59

Cannabis Law Report

MAY 28, 2022

Amid plummeting prices for cannabis “flower” in the Golden State, Santa Barbara County is likely to collect only $10.8 The tax structure approved by county voters in 2018 sets a four percent tax on gross sales revenues from cannabis cultivation, as reported every quarter to the county Treasurer-Tax Collector by the growers themselves.

Collective 52

Collective Cultivation Cannabis Business 52

Cannabis Law Report

MARCH 7, 2020

cannabis industry in 2018? The scary question as discussed directly in Ryan Miller’s June 2018 article on Recycling in the Cannabis Industry : Nipping a cannabis garbage problem in the bud. The only way to achieve this scale is to use dispensaries as the collection points, much like some were already doing back in 2017.”

Vaping 87

Vaping Collective Dispensary Cannabis 87

Cannabis Law Report

MARCH 25, 2020

City officials claimed the decision does not contradict voters’ 2018 approval of Measure M, which authorized a 10% tax on recreational cannabis sales. San Jose Spotlight reported that the measure simply asked whether the city should collect taxes if a cannabis program were to be established. “If SJCC student Justin Gregory said.

Collective 45

Collective Recreational Cannabis Programs 45

Cannabis Law Report

MARCH 7, 2019

Cannabis dispensaries are only a small portion of the retail businesses that collect and pay-over Sales Tax. The two charts below illustrate the division of costs and gross profit among a cultivator, distributor and dispensary as well as the impact of taxes as a pound of flower moves from a cultivator to a consumer.

Dispensary 45

Dispensary Collective Cultivation Retail 45

Cannabis Law Report

JULY 20, 2021

and certain of its affiliates (collectively, “Nature’s Remedy”), a vertically integrated single state operator in Massachusetts. cultivation and production facility in Lakeville, MA with approximately 19,500 sq. In November 2018 recreational cannabis operation sales commenced. billion in annual revenue by 2022.

Conditions 98

Conditions Cultivation Recreational Collective 98