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Banking for Cannabis Growers

Canna Law Blog

If you own a cannabis business, a major consideration is where to keep your money. Though many business owners may find banking to be a headache regardless of industry, few business owners have more hurdles to deal with than cannabis growers and dispensaries.

Banking 82
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Franklin C. McRoberts: A Bumper Crop: Cannabis Meets Business Divorce

Cannabis Law Report

With big business comes big business divorce. In this week’s New York Business Divorce, we’re excited to write about what seems to be the very first New York appellate court decision in a marijuana industry business divorce dispute. The Alleged Partnership. This was not your average mom and pop pot shop.

Business 111
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Recnt MJ Biz Report Details Tensions Between US Cannabis Industry Organisations

Cannabis Law Report

On one side, the legacy group, the National Cannabis Industry Association (NCIA), counts more than 1,000 members since its 2010 founding. Its members include small and medium-sized businesses. The NCIA calls itself the “oldest” and “most inclusive” cannabis trade association.

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Washington LCB Updates DIA Map for Social Equity Cannabis Licensees

Canna Law Blog

As we wrote about here , having lived in a DIA for at least five years between 1980 and 2010 is one of three possible eligibility criteria for the forthcoming Social Equity in Cannabis (“SEIC”) program, which opens for applications March 1. Starting and operating cannabis businesses is not a cheap proposition.

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Washington Social Equity In Cannabis Licensing Window Opens March 1

Canna Law Blog

The license application process will be completed electronically on the WA Department of Revenue’s business licensing system, though it is not currently available on the DOR’s website. Did you own or operate a medical cannabis dispensary or collective garden, licensed as a business, prior to July 1, 2016 (10 points)?

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Alterman Opinion Suggests Cannabis Businesses Apply Double Diligence In Records Keeping

Cannabis Law Report

Alterman involved income tax deficiencies and penalties asserted by the IRS for 2010 and 2011 against individual taxpayers who owned and operated a small Colorado cannabis dispensary. The individual taxpayers had filed joint returns for 2010 and 2011 in which they reported the income from their cannabis dispensary. 1 IRC §6651(a)(1).

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Perfect Union’s New Community Fund Permanently Infuses Charity into Its 530 Grower Product Line

Cannabis Law Report

–(BUSINESS WIRE)– #california –California’s largest cannabis retailer, Perfect Union , announced the official launch of a charitable Community Fund tied to its in-house 530 Grower flower brand today, on 5/30/21. $1 Soft launch raised over $5,000 for cannabis criminal justice reform. SACRAMENTO, Calif.–(BUSINESS