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Marijuana Policy Project (MPP) Reports Says States Have Collected $US10 Billion In Cannabis Taxes So Far

Cannabis Law Report

Eight of the laws were approved in 2020 or 2021, and in seven of those states, sales and tax collections have not yet begun. Colorado voters approved an initiative to regulate cannabis for adults in November 2012, and on January 1, 2014, the state became the first with legal adult-use sales. Colorado (pop. 46,104,922. 104,759,961.

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Harborside & Nor Cal Opinions. Dispensaries, Don’t Despair. There Are Solutions

Cannabis Law Report

280E to cannabis dispensaries. The first Harborside case rejected the manner in which the two dispensaries determined Cost of Goods Sold (“COGS”). 471 should be used by a cannabis dispensary to determine COGS. The situation becomes particularly grim for California dispensaries beginning after 2017.

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Tax Court’s decision in Harborside A Big Challenge For CA Cannabis Dispensaries

Cannabis Law Report

Tax Court has issued a final decision under Tax Court Rule 155 on the income tax deficiency for Patients Mutual Assistance Collective Corporation (“PMACC”), the Company’s 100% owned subsidiary and owner of the iconic Harborside Oakland cannabis dispensary. million for the fiscal years 2007 through 2012.

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California Court Clears Way for Malicious Prosecution Claim Against Attorney for Cannabis Dispensary

Cannabis Law Report

A California appellate court has cleared the way for a tax attorney named Henry Wykowski to pursue malicious prosecution claims against Frank Chimienti, the attorney for a cannabis dispensary, for his alleged involvement in a frivolous malpractice lawsuit. Chimienti was business counsel for the dispensary and owner.

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In new book, WSU Vancouver professor sees benefits of legalized marijuana

Cannabis Chronicles

In the months after Washington voters approved legalized marijuana in 2012, Clayton Mosher, a sociology professor at Washington State University Vancouver, noticed what he believed to be unnecessary safety concerns. One of the chief concerns following the 2012 vote was that easier access to the drug would lead to more motor vehicle crashes.

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Budding Woes: Navigating the Weedy Waters of Cannabis Companies in Financial Distress

The Blunt Truth

2] Bankruptcy cases have been dismissed where the plan had to be funded with rental income from a dispensary, [3] because the plan couldn’t be proposed “by means forbidden by law,” [4] and because the debtor proposed segregating, but continuing to use, proceeds of his medical marijuana business, which is property of his bankruptcy estate. [5]

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Press Release: “StateHouse Holdings Inc., Formerly Harborside Inc., Announces Agreement with IRS to Resolve and Reduce Legacy 280E Federal Tax Obligations Related to Harborside

Cannabis Law Report

We believe the case for this reform is very strong, as it would create tax fairness for legal cannabis businesses and significantly weaken the illicit market, which would result in stronger tax collections for the federal government over the long term.” million –. At issue were federal taxes owed of approximately $22.1