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Our cannabis business attorneys regularly handle transactions involving the purchase and sale of licensed cannabis businesses. Laws and compliance obligations for cannabis businesses can vary widely by state, county, and city. Failing to verify these items could leave you owning a cannabis business that cant legally operate.
Immediate Release: July 15, 2025 Contact: Steph@safeaccessnow.org CJS Approps keeps most protections for state medical cannabis programs after outcry from 45+ medical cannabis organizations
For better or worse, cleaning up those messes has kept me (and some of the litigators here) plenty busy over the years. Most business deals are not particularly complex. The person with money may sign a real estate or license purchase agreement in that persons name, while intending that the asset become part of the business.
Choosing the Right Business Entity in the Cannabis Industry One of the most fundamental questions facing any entrepreneur – whether in the cannabis industry or elsewhere – is: What type of business entity should I choose? Will you own 50% of the business, but your partner wants to claim 100% of the early losses?)
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.
Starting a cannabis business can be both exciting and challenging. Lawyers specializing in cannabis law are well-equipped to handle the specific challenges of obtaining a business license and growing your operation. The specific licenses required for your cannabis business will depend on the type of operation you’re running.
Cannabis businesses share the modern environment of extremely high data security risk. The cannabis industry occupies a unique spot when it comes to user data security.
Rescheduling would stand to have the largest impact on cannabis research and business taxes. Cannabis business taxes If rescheduling is approved, it means state-legal cannabis businesses could start taking federal tax deductions they’ve been previously banned from under Internal Revenue Service (IRS) code 280E.
Cannabis businesses are usually structured as limited liability companies (LLCs)and for good reason. Unless the business has a highly customized structure or multiple classes of equity with distinct rights, a straightforward agreement is usually sufficient. That said, trying to draft an agreement without legal counsel is risky.
The First Circuit decision means the feds are still entitled to enforce the criminal provisions of the federal Controlled Substances Act (CSA) against against state-licensed marijuana businesses.
They will also hurt state-licensed businesses, many of which have already invested millions of dollars in up-front costs and are still struggling to break even." "Marylanders already pay a premium tax on retail cannabis products. Raising these taxes even higher will undoubtedly drive prices out of reach for some consumers.
Is cannabis legal for business purposes in Australia? Cannabis businesses must comply with several laws, including: Narcotic Drugs Act 1967 regulates cannabis cultivation and manufacture for medicinal or scientific purposes. Laws apply to business activities of all kinds at the local government level. The specific license type.
There are many ways to set up a cannabis business, and we like to think that we’ve seen them all. But there’s probably no worse category than 50/50 ownership of a business– a recipe for all sorts of disasters. Most partners are aligned at first, but over time a business will have its ups and downs. This is bad!
” Tiffany Devitt’s response: As Cheech & Chong are well aware, businesses are subject to federal and state laws. There has been a rash of bills in several states to raise taxes and permit fees on cannabis business to prohibitive levels, or to ban smokable flower from state-licensed medical marijuana programs.
Looking ahead As Florida navigates these regulatory changes, both businesses and consumers must stay informed about their potential impacts. Qualified patients would need a certificate from the Florida Department of Agriculture and Consumer Services (FDACS) to legally grow cannabis at home.
Licensed Cannabis-Related Businesses (CRBs) in the U.S. The majority of CRBs operate as cash-only businesses, exposing them to security risks and making compliance with federal regulations challenging due to the absence of a paper trail. Using a professional payroll service aware […]
If a broker is giving you a business agreement to use or to consider using in a cannabis business transactioneven as a template; even with disclaimersthe broker is either a) unscrupulous, or b) nave, and most definitely c) creating a hazard. As I wrote last month: Most business deals are not particularly complex.
For many cannabis brands, licensing their trademarks can be a savvy business move (for more information on cannabis trademarks generally, check out our webinar, Trademarking Cannabis: Cutting Through the Legal Haze ). And dont forget: many cannabis businesses still operate on a largely cash basis due to banking restrictions.
Since cannabis remains federally illegal, many banks, who run on a risk-based assessment, refuse to do businesses with cannabis companies. Hence, finding banking solutions for cannabis businesses has proven to be difficult. With 24 states, Washington D.C, In 2021, only 518 of the almost 5,000 commercial banks in the U.S.
Offer incentives for dispensaries : Encouraging businesses to maintain their medical licenses through tax breaks or other benefits. Efforts to incentivize dispensaries to keep their medical licenses have had limited success. Enable telehealth for certifications : Making it easier for patients to obtain and renew their medical marijuana cards.
There are few worse feelings in lawyering (and, I image, for a business) than drafting a suite of contracts, only to have the counterparty respond “this isn’t really what we agreed upon.” Related, a primary function of an LOI is to ensure the parties agree on key terms before spending outsized time and money on legal.
Measure 5 would appoint a state body to regulate cannabis-related businesses in North Dakota. North Dakota In North Dakota, voters will be asked for a third time about legalizing marijuana for recreational use. Measure 5 would make it legal for adults ages 21 and older to produce, process, sell, and use cannabis.
That’s an immediate tax win for state-legal businesses. (Note: the arguments here would have less applicability, because criminal penalties would slightly reduce under rescheduling.) But while litigation played out, rescheduling would still take effect—and IRC § 280E would no longer apply.
Section 280E of the Internal Revenue Code severely limits tax deductions for businesses involved in the sale of controlled substances, imposing significant financial constraints on cannabis operators.
For some dispensaries, especially smaller businesses, the new dispensaries popping up all over these metro areas meant less and less business as dispensaries were in a race to the bottom when it came to pricing. Cannabis businesses also cannot deduct most of their business expenses, such as rent and employee wages.
consumers and businesses, inflation dominates current news headlines because of how much it affects every one of our wallets. Since COVID-19 rocked the economy, cannabis businesses and supply chains claim to have been playing catch-up to get back to business as usual. As perhaps one of the most talked-about topics for U.S.
If you live in or around DC, you may have noticed some recent changes to the business landscapespecifically if you enjoy cannabis. There has been a sequence of closures of cannabis businesses over the past year, which potentially means less access to cannabis as well as changes to the cannabis industry. Wondering why?
If passed and put into practice, this bill would bring about major changes for cannabis users in Texas, as well as for businesses selling cannabis. Additionally, adults would be allowed to store up to 10 ounces of cannabis at their residence, provided it is kept in a secure location.
For this post, I’m looking at diligence in the context of a business purchase, for ease of reference.) Due diligence requests can ask for information about every aspect of the business–employment matters, litigation matters, tax matters, data security, contracts, etc. Sellers rushing closing.
This story broke yesterday afternoon in the Portland Business Journal (“Journal”). The notices center on alleged THC inflation, and extend back to instances identified in 2023. We only have eleven labs in Oregon accredited to do this mandatory work, so OLCC chasing seven of them is a big deal.
While most businesses rely on traditional contract law to protect their interests, cannabis companies must tread more carefully. […] The post How Cannabis Companies Should be Writing Cannabis Contracts appeared first on MaxQ Technologies. The cannabis industry is booming across many U.S.
Use a cannabis business lawyer experienced in term sheets Getting a bona fide, cannabis business lawyer involved in the term sheet process can be key. This too is another place where deals can easily fall apart. Even where a deal won’t fall apart, if the parties disagree about what a term sheet says, costs will skyrocket.
Allowing the state to cultivate cannabis for in-state cardholders could be a transformative move for the states agricultural businesses. It ranks first in the state for soybean, corn, and pork production. Frequently Asked Questions How Many Iowans Use The Medical Cannabis Program?
IDFPR cites the explosive growth by stating that 82 new dispensaries open for business in the last year, the single-largest expansion of cannabis dispensaries since the program first started with the Compassionate Use of Medical Cannabis Program Act (CRTA) in 2014. Find detailed information about this topic here.)
If you are operating a legal cannabis business in Nevada, your company must follow the state regulations, enforced by the CCB as well as any applicable local jurisdiction ordinances. Only businesses licensed by the State for cannabis operations can legally grow, manufacture, test, distribute, or sell cannabis in Nevada.
After attending the International Cannabis Business Conference (ICBC) in Berlin at the end of April, I was reminded, yet again, of how draconian U.S. On the bright side, consumable and cosmetic hemp operators have far fewer regulatory burdens domestically compared to marijuana businesses; giving them broader U.S. How the U.S.
As a result, many hemp businesses in Colorado have continued selling products that exceed the legal THC thresholds, gambling on limited enforcement. Industry friction and compliance challenges Adjusting product formulations and packaging can be costly, particularly for small and mid-sized companies.
If a license was revoked or surrendered, that entity would cease being able to legally operate a cannabis business establishment. The Cannabis Regulation and Tax Act does not address what would happen to any cannabis business establishment license that was revoked or surrendered, beyond the revocation or surrender.”
Effective October 1, 2025- AB365: Assembly Bill 365 states that the University of Nevada Reno is no longer legally obligated to continue their established program for the evaluation and research of the medical use of cannabis in the care and treatment of persons who have been diagnosed with a chronic or debilitating medical condition.
The Illinois Department of Agriculture (IDOA) and the Division of Cannabis Regulation announced today an official Metrc implementation timeline for licensed cannabis businesses transitioning from BioTrack to Metrc as Illinois’ track-and-trace data system. To move items into Metrc, plants and packages will need Metrc RFID Tags.
Lottery winners received preliminary approval and must secure a business location and, in many instances, additional capital is required to commence operations. OCM subsequently issued formal guidance as to changes of business ownership […]
As the bill progresses through the legislative process, the impact on cannabis businesses, consumers, and the state’s growing hemp industry could be significant. Patrick, who also presides over the Senate, reiterated his support for the ban and issued a warning to businesses currently selling hemp THC products during a press conference.
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