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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.

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AAFP ( American Academy of Family Physicians) Releases Marijuana, Cannabinoids Position Paper

Cannabis Law Report

The AAFP advocates for robust regulation regarding labeling and child-proof packaging of all marijuana and cannabinoid products. 11,12 CBD, the non-psychoactive cannabinoid, is extracted from the flower of industrial hemp. Cannabis sativa with less than 0.3% 13 Marijuana and hemp, technically speaking, are the same plant.

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California: Which Set of Books?

Cannabis Law Report

The original hard copy books and records may be destroyed provided that the electronic storage system has been tested to establish that the hard copy books and records are being reproduced in compliance with IRS requirements for an electronic storage system and procedures. On April 12, 2010, SB 401, the Conformity Act of 2010 was enacted.

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Meritas Law Firms Worldwide Article: Global Cannabis Industry: The Essential Primer

Cannabis Law Report

Selinger cites software, point-of-sale systems, and packaging as areas that are thriving in the state. CBD can be extracted from the flowers of plants classified as industrial hemp as well as those with higher THC content. Colorado has legalized both recreational and medical use of cannabis. alcoholic beverages, caffeine, and tobacco).

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