Cannabis Law Report

SEPTEMBER 1, 2021

Federal law requires that taxpayers must report income from illegal sources – including cannabis sales (whether state sanctioned or not) – raising numerous tax compliance and design issues. The lawful cannabis industry faces numerous regulatory hurdles that makes even good-faith compliance with the law a challenge. Introduction.

Policy

Cannabis Law Report

APRIL 24, 2019

The STATES Act passes in Congress, the President signs it and it becomes law which means that in the states where cannabis is legal : Banking system becomes available to cannabis businesses. The second path would be the administrative action by the Drug Enforcement Agency [“DEA”] and its Diversion Control Division.

Legalization

SMPL

AUGUST 14, 2019

Though ABA specified that it was not taking a position on marijuana legalization generally, it recognized that conflicting federal and state cannabis policies are untenable and have created complications for cannabis businesses operating in compliance with state law.

Policy

Otherside Farms

AUGUST 4, 2020

Your business plan should address key considerations such as funding, marketing, competition, legal compliance, and other essential components of running your business. Due to cannabis businesses being considered high risk, banks will often not loan money. Credit Card Processing and Banking. Fund your Business.

Business

Cannabis Law Report

JULY 30, 2019

Each patient and physician boldly proceed to maneuver Florida’s present physician and patient compliance system together, not to mention the issues: state vs. federal legality conflicts. Cannabis is not a “gateway” drug, according to the ASA and the DEA’s own statements cited in the August 2016 U.S.

Marijuana

Canna Law Blog

NOVEMBER 16, 2021

This includes bills on banking (see the SAFE Banking Act , which has passed the House no less than five times) and overall federal legalization (see the MORE Act as well as its sister Senate legislation, the Cannabis Administration Opportunity Act (“CAOA”)). The enforcement role moves from DEA to ATF.

DEA

Cannabis Law Report

JUNE 11, 2021

The most aggressive CPOM state we’ve seen so far is probably New York where recent court cases have really narrowed what an MSO can do when it comes to a PC (including a prohibition on holding or having access to any bank accounts on behalf of the PC). Although many are still self-pay mainly for two reasons: 1. Source: [link].

Law

NewsMunchies

DECEMBER 22, 2021

As of this writing, cannabis remains a prohibited Schedule 1 drug, defined by the DEA as having “no currently accepted medical use and a high potential for abuse.” . The commercialization of cannabis is here but federal legalization has not yet come to our shores.

Law

Canna Law Blog

DECEMBER 6, 2022

As we blogged about last week, the SAFE Banking Act is trying to claw its way back from the dead during this lame duck session of Congress. Interestingly, on December 2, Punchbowl News reported that the Department of Justice (DOJ) issued a memo outlining its “issues” with the SAFE Banking Act. Section 280E.

Banking

Cannabis Law Report

SEPTEMBER 20, 2019

They write… In this week’s edition: Plans to vote on cannabis banking legislation announced in both chambers of Congress, with predictions that House will pass the SAFE Act by the end of October. DEA increases the cannabis research quota. Idaho is the home state of Senate Banking Committee Chairman Mike Crapo.

Vaping

Cannabis Law Report

MARCH 25, 2019

The DEA has made previous requests–in 2001 and 2006–to the FDA for an evaluation of marijuana. But DEA regulators determined after both of those reviews that marijuana should remain a Schedule I substance. Emphasis added). State-compliant cannabis activity would no longer violate federal criminal law.

Banking

MJ Business Attorneys

MAY 23, 2018

The “peace on pot” between the Colorado Senator and President Trump could be a step toward rectifying the profound secondary affects of federal drug laws, including banks and investors’ reluctance to work with industry operators for fear of violating federal law. Now is the time to redouble our efforts.”

Marijuana

Cannabis Law Report

MAY 17, 2019

Seq (1970) and Drug Enforcement Administration’s (“DEA”) clutches, 2019 hemp production and sales exploded. Steve represents entities, governments and individuals in choosing a structure, preparing and submitting license application, regulation, compliance and litigation, and drafting legislation. Budgeted at $6.1

Food