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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? Will you own 50% of the business, but your partner wants to claim 100% of the early losses?)

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Intoxicating Hemp Swindle

Project CBD

A new study from an industry advocacy group in California examines the content of dozens of unregulated intoxicating “hemp” products that are easily available in the Golden State despite being banned by state law. The study, entitled The Great Hemp Hoax , was released Feb. Theres no ambiguity or loophole.

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House Members Pass Historic Legislation Legitimizing Retail Cannabis Sales

NORML

Members of the House of Representatives voted 321 to 103 in favor, representing 79% of the vote of HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses.

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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. Thanks to an antiquated law that the IRS is all-too-happy to enforce, taxes on legal marijuana dispensaries are astronomical. But one thing U.S. Section 280E.

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Northeaster University study published by the Massachusetts Cannabis Business Association – Massachusetts municipalities have collected more than $53 million in cannabis “impact” fees

Cannabis Law Report

Massachusetts municipalities have collected more than $53 million in “impact” fees from cannabis companies since the launch of adult-use sales in 2018, according to a Northeaster University study published by the Massachusetts Cannabis Business Association outlined in a Boston Globe report. Read More at .

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The Week in Weed: April 10, 2020

The Blunt Truth

But there is some other news: the IRS seems likely to increase auditing of marijuana businesses, and Epidiolex has been removed from the controlled substances list. Industry grou ps are advocating that marijuana businesses be included in that legislation. Even in states where cannabis is legal, the virus is causing problems.

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Legal Options for Investors and Owners of a Financially Struggling Marijuana Business

Dykema (Cannabis Law Blog)

This rapid price compression puts tremendous pressure on many marijuana businesses as they face greater competition with ever-slimming margins. However, the doors to the bankruptcy courts are currently closed to marijuana businesses because marijuana is still illegal at the federal level. In contrast, the average price fell to $109.22