Cannabis Law Report

NOVEMBER 4, 2019

We are constrained by the law, and Congress has not carved out an exception in IRC Sec.280E 280E for businesses that operate lawfully under State law. 5] The tax year 2015 is significant for two reasons. 3d 1146 [CA-9, 2015] was the first reviewed decision that discussed the phrase “consists of” in IRC Sec.

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Cannabis Law Report

MARCH 29, 2019

An-Chi Tsou is the principal at Tsou Consulting, LLC, specializing in state and local regulatory and legislative compliance, guidance, and advocacy. She was the lead staffer and drafter of the MCRSA at the California State Legislature in 2015. . Authored By: An-Chi Tsou.

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Cannabis Law Report

APRIL 23, 2019

Prior to getting involved in Tax Law, Dionne was a litigator for several years, representing Lenders, Banks and Servicers in Foreclosure actions. I lived in Colorado for a few years, and had the pleasure of working with a logistics company that legally transported money and products throughout the entire State.

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Banking Marijuana Law Business 45

MMJ Recs

DECEMBER 17, 2023

The Texas Compassionate Use Program (TCUP) represents the Lone Star State’s cautious foray into the realm of medical marijuana. Enacted in 2015, the program was designed to provide a narrow avenue for patients suffering from qualifying conditions to access low-THC cannabis under the supervision of qualified healthcare professionals.

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Law Clinical Trials Dispensary Programs 52

The Blunt Truth

JULY 5, 2023

Starting August 1, 2023, Minnesota will provide protections to individuals who use cannabis for recreational purposes, after Minnesota Governor Tim Walz signed a state law allowing adults 21 and older to use recreational cannabis. The new law amends the state’s Consumable Products Act to protect off-duty cannabis use.

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Cannabis Law Report

MAY 1, 2019

In February of this year, the California Bureau of Cannabis Control (“CBCC”) sent a letter to Weedmaps.com alleging that the website was “engaging in activity that violates state cannabis laws.” Because cannabis remains illegal under federal law, 7 and Section 230 explicitly does not “impair the enforcement of. 24 Johnson v.

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Cannabis Law Report

JULY 20, 2019

Measure 1, Security plan: The applicant shall provide an acceptable safety and security plan, including staffing and site plan, and a detailed description of proposed security and safety measures, which demonstrates compliance with the rules at N.J.A.C. since 2015. Criterion 2. Criterion 6.

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Law Marijuana Education Cultivation 40

Cannabis Law Report

JULY 31, 2019

Dish Network, LLC , the Supreme Court of Colorado analyzed whether a state statute prohibiting employers from discharging employees based on “lawful” out-of-work activities prevented employers from terminating employees for using marijuana. [16] 3d 849 (2015). 16] 350 P. 17] Id. [18] 18] Ariz. 19] Conn. 28] Id. [29]

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Cannabis Law Report

AUGUST 8, 2019

investment community as to the boundaries of legal risk and compliance. Law Commission published a report, “Anti-money laundering: the SARs regime”, highlighting the need for guidance on transactions involving the legal cannabis industry in Canada and elsewhere. The law is stated as of July 2019 and is continually evolving.

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Cannabis Law Report

JULY 22, 2019

In a joint op-ed in Fox Business today, American Bankers Association President and CEO Rob Nichols and Credit Union National Association President and CEO Jim Nussle called on lawmakers to resolve the existing conflict between federal and state law with respect to proceeds from cannabis-related businesses.

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Banking Safety Business Legislation 40

Cannabis Law Report

MAY 2, 2019

Water rights based on prior appropriation quickly spread throughout the West and has been codified today in eighteen states, including Alaska, Washington, Oregon, California, Nevada, and Colorado, all states in which cannabis is now legal under state law. 2] Irwin v. Phillips , 5 Cal. 140, 145-47 (1855). [3] 15, 2019. [5]

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Agriculture Cannabis Law Policy 45

Greenspoon Marder Cannabis Law Group Blog

JUNE 25, 2021

The courts have consistently held that marijuana dispensaries operating in compliance with state law are trafficking in controlled substances and are subject to Section 280E.[11] 2015); Canna C No. 2015-206. [12] Commissioner , 151 T.C. 29, 2018), aff’d Ninth Circuit, April 22,2021 (No. 19-73078); Olive v.

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Business Cannabis Seed-To-Sale Law 72

Connor & Connor PLLC

AUGUST 30, 2018

The company appealed the IRS’ findings to the United States Tax Court. Memo 2015-206. A 2014 FinCEN memo stated as follows: “Because federal law prohibits the distribution and sale of marijuana, financial transactions involving a marijuana-related business would generally involve funds derived from illegal activity.

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Business Marijuana Banking Collective 49

Canna Law Blog

DECEMBER 23, 2021

This includes promulgation of cannabis tax guidelines as well as webinars and public forums dedicated to tax compliance for marijuana businesses (together, the “Guidelines”). Indeed, federal courts have consistently upheld that income derived from state compliant as well as illegal marijuana business activities are subject to U.S.

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Compliance Compliance Business Cannabis 98

Canna Law Blog

NOVEMBER 13, 2021

With the passage of SB 420 , this collective system was formalized and, with the advent of the 2008 Guidelines issued by the State Attorney General’s Office, more details around “compliance” and best practices were provided; but it was nothing like we have today under Prop. 64 and MAUCRSA. Then in November 2016, Prop.

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Cannabis Law Report

JANUARY 30, 2019

The first letter was sent on May 13, 2015, and the second letter was sent on November 18, 2018. Both DOJ and HHS agreed to conduct a medical and scientific evaluation of CBD independent of marijuana in 2015. What is the status of this request? Do you intend to reinstate the Cole Memorandum?

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Research and Development CBD DEA Law 63

Cannabis Law Report

MAY 26, 2022

Instead, adult-use dispensaries in the state are proving the system works by checking IDs as required by state law. In a 2013–2014 National Roadside Survey, more drivers tested positive for cannabis (12.6%) than for alcohol (8.3%; Berning, Compton, & Wochinger, 2015) with drivers aged 16–20 having the highest rates.

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Dispensary Research and Development Safety Recreational 52

Cannabis Law Report

JANUARY 30, 2019

Fourth Corner applied for approval from the US Federal Reserve and also sued the National Credit Union Administration (NCUA) in 2015, claiming the NCUA improperly denied it federal share insurance. If and when that happens, the tension between federal and state law regarding marijuana will disappear.”

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Banking Hemp Business Cannabis 77

Cannabis Law Report

MARCH 25, 2019

Congress could pass a law that would legitimate marijuana activities, but only to the extent an individual or commercial enterprise acts within the letter of state law. State-compliant cannabis activity would no longer violate federal criminal law. Emphasis added).

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Banking Law Marijuana State Laws 45

Connor & Connor PLLC

MARCH 9, 2018

As a schedule 1 drug under controlled substances act, it is illegal to use, possess, grow or sell marijuana under federal law. State law cannot trump federal law pursuant to the Supremacy Clause in the United States Constitution. Regulated at State and Local Levels.

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Law Marijuana Seed-To-Sale Business 51