House Committee on Small Business Holds Hearing On Cannabis

NORML

Today, the House Committee on Small Business held a hearing entitled Unlocked Potential? Currently, the SBA is prohibited from providing support, guidance, or microloans to small businesses in the cannabis industry, unlike every other sector of the economy.

Chairwoman Velázquez Introduced Bill To End Marijuana Prohibition And Promote Small Businesses

NORML

House Small Business Committee Chairwoman Nydia Velázquez along with Representatives Jared Golden and Dwight Evans introduced a package of legislation, ( H.R. You can read more in the release issued by the Committee on Small Business here.

Businesses Need Bank Accounts; Marijuana Shops Included

NORML

Imagine operating a business without a bank account. Imagine being forbidden from letting your customers pay for purchases with a credit card, or being able to ask a bank for a small business loan. This is the reality of hundreds of small and medium-sized business owners throughout the country who are engaging in the emerging cannabis marketplace. Currently, state-licensed marijuana businesses face a web of conflicting regulations.

How to join boom in cannabis business

Cannabis Chronicles

Investors have taken note, pumping $10 billion into North American cannabis businesses last year — a good sign for budding entrepreneurs hoping to cash in on the green rush. To succeed, you need more than a solid business plan and ace team (though those are crucial, too).

California Ad Campaign Targets Illegal Cannabis Businesses

Leafly

The post California Ad Campaign Targets Illegal Cannabis Businesses appeared first on Leafly. "Do you know what's hiding in your counterfeit edibles?" one ad asks. Industry Politics California Lab testing law enforcement licensing Los Angeles

Visa Stops Processing CBD Business

Cannabis Law Report

As of , May 15, many CBD business had yet another obstacle thrown in their path when they were notified that they could no longer accept Visa payments on their sites. They write.

Cannabis Business Reality – Conference Agenda Mismatch

Cannabis Law Report

Cannabis Business Reality – Conference Agenda Mismatch – For those of you who read our post regularly, it is no surprise that we have been “beating a drum” over problems within the cannabis industry in California that focus on licensing and the underground market.

Congress looks into allowing banking for marijuana businesses

SpeedWeed

lawmakers are once again exploring efforts to allow legal cannabis businesses access to banks. The lack of banking services has forced many business owners to risk getting robbed by stashing large amounts of cash, or to resort to money laundering.

Yes, Washington, You Really Need Cannabis Business Insurance

Canna Law Blog

In a prior post I discussed some general insurance issues for cannabis business owners to consider. Today we’ll take a deep dive into Washington State insurance for cannabis businesses. For those who enjoy a bit of historical grounding , the first business insurance policies in the U.S.

New Model Ordinance’s Envisioned To Promote Small Businesses and Inclusivity

NORML

This week, the Minority Cannabis Business Association unveiled their Municipal Ordinance model on how localities can administer new business licenses in a fashion that promote minority entrepreneurs and ensure that the emerging industry will not be dominated by a flood on new investors who have not been harmed by the consequences of prohibition.

Support These Charitable Cannabis Business That Give Back

Leafly

Speak with your wallet and donate to good causes with the help of these charitable cannabis businesses. The post Support These Charitable Cannabis Business That Give Back appeared first on Leafly. Lifestyle dispensaries

Welcome to the Jungle: Changes in Ownership, Financial Interests, and Entities for California Cannabis Businesses

Canna Law Blog

California though stands alone when it comes to the regulatory gauntlet on changes of ownership, entity, and or financing for a cannabis business. Don’t forget that state licenses are not transferable: only the businesses that hold those licenses can be bought and sold.

Michigan Dispensary Marketing Agency Helps Cannabis Businesses Grow

Canna Newswire

July 2, 2019 / Canna Newswire / – With the recent legalization of marijuana in the state of Michigan, dispensaries, growers, and cannabis-related businesses are beginning to open shop. “Having a unique sales proposition and ongoing marketing campaign is critical for business owners who sell cannabis products and services,” says Brian Boyer, owner of Top Smoke Marketing. TRAVERSE CITY, Mich.

Advocates Ask Maine to Put Locals, Small Businesses First

Leafly

The post Advocates Ask Maine to Put Locals, Small Businesses First appeared first on Leafly. The state needs to use the rules to prevent corporate marijuana interests from overrunning the state's small cannabis industry, dispensary owners said.

Green Market Report Article: Maximizing the Tax Deduction for Business Expenses of a Cannabis Business

Cannabis Law Report

Despite the legalization of cannabis on a state-by-state basis, federal tax laws continue to limit the availability of certain tax benefits for businesses engaged in cannabis production and sales. By Lewis Taub, CPA, Director of Tax, Berkowitz Pollack Brant.

NY: CPA & Business Advisory Service Launches Cannabis & Hemp Advisory Practice

Cannabis Law Report

DKB’s expertise and experience with other regulated industries, especially the alcoholic beverage market, can help make sure businesses get it right. Careful planning surrounding 280E is one of the many ways that DKB will help cannabis business owners maximize after tax cash.

The STATES Act Reintroduced: Bipartisan Measure Limits Federal Government’s Ability To Interfere With State-Sanctioned Marijuana Business, Policies

NORML

This Act amends the Controlled Substances Act to reduce the number of instances in which federal law enforcement agencies could carry out legal actions against state-licensed cannabis businesses or other related enterprises. ” The STATES Act joins multiple bills have been filed to amend the Controlled Substances Act to restrict federal enforcement actions against state-legal marijuana businesses.

Policy 151

Hypocritical U.S. Tax Law Stifling Legal Marijuana Businesses

WeedAdvisor

Owning a business is never easy. businesses enjoy is the ability to deduct certain expenses, providing a notable tax break once the IRS comes to collect its due. In fact, given the numbers, it is a miracle that any of these businesses actually manage to expand. Apparently, there were some parts of his “business” that were tax deductible. Following the verdict, the IRS passed Section 280E, which states that illegal businesses cannot make claims or deductions.

Canadian Cannabis Businesses Flocking to Colombia as Medical Market Grows

WeedAdvisor

But as Canadian companies got involved with their Colombian counterparts through acquisitions, independent operations or partnerships, the need for a streamlined, reliable system of business solutions became paramount.

Social use cannabis is now permanent in Denver, opening the door for new business.

MJ Business Attorneys

The Denver City Council voted 10-1 in favor of lifting the 2020 sunset date on social use cannabis businesses. While it is legal to buy and consume cannabis is Colorado, there are only two businesses in Denver that will allow you to vape or consume edibles on the premises.

Proposed Legislation: Ensuring Safe Capital Access for All Small Business Act of 2019

Cannabis Law Report

Cannabis-related businesses, especially those from disadvantaged communities, would be eligible to get loans backed by the federal Small Business Administration for the first time under proposed legislation.

Cannabis Europa Plan To Launch Conference Business In The USA

Cannabis Law Report

Coals to Newcastle or a little bit more than that? Here’s what the press release says. Europe’s premier cannabis conference goes West as North American firms look to expand European venture.

California: Guidance – Micro-business – Multi-License

Cannabis Law Report

Guidance – Micro-business – Multi-License. Guidance – Micro-business – Multi-License – CDTFA has published a new notice that provides new guidance to the holders of multiple cannabis licenses with respect to the calculation of Cannabis Excise Tax [CET”].

Record Keeping for Marijuana Businesses

Connor & Connor PLLC

Good record keeping is essential to ensuring your marijuana business runs smoothly. Not only does it allow you to track your business’ progress and stay organized, it also helps your business remain in compliance, as some records are required to be kept by law and can be subject to inspection by government officials. Additionally, you should always be tracking and recording the amount of marijuana that is stored at your business.

Accounting Today Publish Article, “Special tax issues for cannabis businesses”

Cannabis Law Report

They write……… It’s tax time for everyone, but for entrepreneurs in the rapidly growing cannabis business, it’s a particular challenge.

Cannabis Real Estate Leases: The Roots of Your Cannabis Business, Part 1

Canna Law Blog

The structure of the leasing relationship and the terms of the lease are key components, both for getting funds out of the primary business and mitigating your risks, of which there can be many. Business Basics Real Estate Recreational MarijuanaThese leases are different, you know.

Hoban Law Brings On A Director of Business Development

Cannabis Law Report

Halston launched her career in the Denver area, starting off in the beverage industry, where she began to develop her sales and networking skills with an eye for marketing and business development.

Oakland to lower tax rate on small cannabis businesses

Cannabis Law Report

OAKLAND — Oakland’s small cannabis businesses will get a substantial tax cut after several entrepreneurs complained that the city’s previous rate was making it so only big companies could survive. The report reveals.

How Risk Management Can Make Marijuana Businesses Bulletproof

Cannabis Law Report

Indentifying Marijuana Related Businesses’ Loss Exposure. billion, and marijuana stocks trading on Canadian exchanges, cannabis is officially big business and in dire need of risk management. If you wish to re-publish this story please do so with following accreditation.

Florida adds eight more medical marijuana business licensees

Cannabis Law Report

Florida adds eight more medical marijuana business licensees. The state will grant the additional licenses to companies that failed to gain approval during the first round of licensing in 2015, the News Service of Florida reported. See the full report at MJ Biz.

New Hampshire Gov. Chris Sununu vetoes legislation opening medical marijuana industry to for-profit MMJ businesses

Cannabis Law Report

Chris Sununu vetoed legislation that would have opened the state’s heavily regulated medical marijuana industry to for-profit MMJ businesses, dealing a setback to cannabis entrepreneurs who might have been interested in launching a moneymaking operation there. New Hampshire Gov.

Foreign Direct Investment (FDI) from China in U.S. Cannabis Businesses

Canna Law Blog

In conducting due diligence about his investment, I was interested to see that he was the only person involved in the business who was non-Chinese. That means your prospective Chinese investor or business partner (or customer who owes you money for your raw inputs, such as U.S.

5 Top Reasons for Cannabis Businesses to Attend B2B Networking Events

CannaTech

Networking is one of the most important areas of focus for expanding or emerging cannabis businesses. By bringing a wide range of thought leaders, researchers and business people together, new concepts can be shared with relevant parties, promoting cooperation.

Oregon Cannabis Litigation: Business Between Friends Leads to $4.2 Million Lawsuit

Canna Law Blog

A friendship founded on business is a good deal better than a business founded on friendship,” said John D. Times have changed and so should the practice of cannabis businesses as demonstrated by a $4.2 Running a Cannabis Business: Write it Down.

Tax Consequences to Cannabis Businesses of Licensing Delays

Cannabis Law Report

471 include: Small businesses which have average gross receipts for three trailing years of less than $25 million [1] and are not a tax shelter [2] may rely on their book method of determining COGS for tax purposes.

North Dakota’s First Medical Cannabis Dispensary Is Open for Business

Leafly

The post North Dakota’s First Medical Cannabis Dispensary Is Open for Business appeared first on Leafly. Patients who visit The Botanist will find themselves walking into a room that has the feel of a spa or salon, with wood floors and two large display cases illuminated by hanging lights. Industry dispensaries legalization medical marijuana north dakota

The Business of Marijuana in Oregon: Join Us May 17!

Canna Law Blog

In exactly two weeks, on May 17, 2019, our own Vince Sliwoski will co-chair an all-day continuing legal education (CLE) event in Portland called The Business of Marijuana in Oregon , along with Danica Hibpshman, Director of Statewide Licensing at the Oregon Liquor Control Commission (OLCC).

Cannabis Business Times and Cannabis Dispensary Publications Launch “Best Cannabis Companies To Work For—2020”

Cannabis Law Report

Cannabis Business Times and Cannabis Dispensary launched the Best Cannabis Companies To Work For—2020. A ranking of the “Best Cannabis Companies To Work For – 2020” in cultivation and retail will be revealed in upcoming issues of Cannabis Business Times and Cannabis Dispensary.

South Australia: Court Gives Man Suspended Sentence Over His “Kronfectionary” Business

Cannabis Law Report

Judge Wayne Chivell described the business as “sophisticated” He handed Woodward a fully suspended jail sentence for two years and eight months with a non-parole period of 16 months.

Cannabis & Hemp Lawyer Rod Kight Interviewed By Super Lawyers On Issues CBD Businesses Face

Cannabis Law Report

Super Lawyers interviewed Rod Kight for a May 21, 2019 story, “ The Common Legal Questions CBD Businesses Face. ”. THE COMMON LEGAL QUESTIONS CBD BUSINESSES FACE. Here’s the introduction to the article. Hemp is no longer a controlled substance, but it still has regulations.