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Cannabis Taxation: C Corp, S Corp, LLC, LLP, Partnership, Nonprofit, or Something Else for Your Cannabis Business?

Canna Law Blog

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? Some industries are relatively low-risk (spoiler: cannabis is not one of them).

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Ayr Wellness to sell four Illinois dispensaries

Illinois News Joint

multi-state cannabis operator, announced in May 2022 it had closed the definitive agreement to acquire two Herbal Remedies Dispensaries. Ayr then acquired two more Illinois dispensaries, one in Hometown and one in Normal. Earlier this week, Ayr Wellness signed a letter of intent to sell all four Illinois dispensaries.

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Illinois releases Cannabis Report FY2024 (IDFPR portion)

Illinois News Joint

Illinois officials recently released the Annual Cannabis Report for Fiscal Year 2024. The 144-page report, compiled by the Cannabis Regulation Oversight Office (CROO), incorporates data from several state departments. The report also touts, as more evidence, Illinois’ $2,007,401,374 in sales during the past fiscal year.

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How a Lawyer Can Aid Cannabis Entrepreneurs in Starting and Growing their Business

Connor & Connor PLLC

Starting a cannabis business can be both exciting and challenging. With the rapid expansion of the cannabis industry, entrepreneurs face a range of legal and regulatory hurdles that can make the process daunting. One of the most significant legal hurdles in the cannabis industry is dealing with land use and zoning regulations.

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Molotov cocktail arsonist(s) targeting cannabis dispensaries

Illinois News Joint

The Chicago Police Department issued a Business Alert last week about two related cannabis dispensary Molotov-cocktail fires, and yesterday, a Molotov-cocktail arson attempt occurred at a third dispensary. April 19 at Cannabist Dispensary in Jefferson Park , and the second fire was set about 3:49 a.m.

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How Inflation is Affecting Cannabis: Prices, Closures, and the Job Market

Veriheal

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. This windfall shows no signs of slowing down either.

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Understanding Cannabis Banking Challenges and How to Overcome Them

Connor & Connor PLLC

Since cannabis remains federally illegal, many banks, who run on a risk-based assessment, refuse to do businesses with cannabis companies. and Guam having fully legal operating cannabis markets under their own laws, banks are put in an awkward position because of the inconsistencies between state and federal law.