article thumbnail

Analysis: State-Licensed Cannabis Businesses Paid Nearly $2 Billion In Excess Taxes in 2022 

NORML

A new study by Whitney Economics has discovered excessive tax burdens placed on cannabis businesses as a result of Section 280E. The post Analysis: State-Licensed Cannabis Businesses Paid Nearly $2 Billion In Excess Taxes in 2022 appeared first on NORML.

Cannabis 201
article thumbnail

280E is Harming Legal Cannabis Businesses; These States are Legislating Change

NORML

Excess tax burdens imposed on state-legal cannabis businesses are destroying their profitability. The post 280E is Harming Legal Cannabis Businesses; These States are Legislating Change appeared first on NORML. These states are legislating change.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Cannabis Businesses Need Privacy Policies

Canna Law Blog

It’s 2023 and many cannabis businesses are still missing one critical operating document: a privacy policy. Any cannabis business that operates in California and has a website is clearly subject to this requirement. And it imposed a host of new legal requirements on applicable businesses (more on that below).

Cannabis 101
article thumbnail

Bipartisan Bill to Normalize Federal Taxation for Legal Cannabis Businesses Introduced in House of Representatives

NORML

The Small Business Tax Equity Act provides an exemption for state-licensed cannabis businesses from federal tax code 280E, which prevents anyone engaged in the trade of certain federally prohibited substances from deducting business expenses.

Cannabis 191
article thumbnail

Where the Money Grows: Learning the Industry Trends in Medical Cannabis, Recreational Marijuana, Hemp, and Beyond

Speaker: Jonathan Bench, International Cannabis and Securities Business Attorney at Harris Bricken

Today, many opportunities exist for individuals and businesses that want to engage in the industry. Some want to directly own licensed businesses, while others prefer to keep the industry at an arm’s length and merely profit from it. The ancillary businesses surrounding these industries where people and businesses are profiting.

article thumbnail

Senate Coalition Urges SBA to Support Small Cannabis Businesses

NORML

However, SBA’s current policy excludes small businesses with “direct” or “indirect” products or services that aid the use, growth, enhancement, or other development of cannabis from SBA-backed financing. To that end, NORML has called for SBA access to be included in our recently issued policy memo.

Cannabis 296
article thumbnail

Equity Incentives and Cannabis Businesses

Canna Law Blog

Today, we’ll look at a few key issues for cannabis businesses that want to offer equity incentives. Like all companies, cannabis businesses that want to follow the law should be aware of the filing requirements and understand what needs to go in a contract well in advance of any actual issuances.