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While most cannabis and hemp businesses understand that they must follow a set of guidelines and implement certain quality control factors into their daily operations, many do not understand the depth of compliance and documentation needed to meet all state and federal requirements.
Illicit marijuana providers don’t ask for or check for ID, but licensed businesses most certainly do.” The post Colorado: Compliance Check Data Confirms That Retailers Aren’t Selling Marijuana to Minors appeared first on NORML. “Regulation works.
Our cannabis business attorneys regularly handle transactions involving the purchase and sale of licensed cannabis businesses. State and local law and compliance This is the number one priority. Laws and compliance obligations for cannabis businesses can vary widely by state, county, and city.
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?)
Company’s Core Operational Compliance Solutions Helps Cannabis Companies Stay Compliant With Continually Changing Regulations in the State. Together, the solution suite is specifically designed to help cannabis businesses remain compliant under Utah’s medical cannabis laws, as well as manage risks in a cost-effective way. “As
Cannabis companies in California need evidence of California Environmental Quality Act (CEQA) compliance to operate legally. CEQA compliance requires your cannabis business prove that it poses no environmental threats. How CEQA Relates to Cannabis Compliance. Exemptions.
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.
The Director, Regulatory Compliance with Green Thumb Industries will lead a team of professionals experienced in cannabis regulatory compliance to support all the company’s operations and ensure each facility and dispensary functions consistently with applicable cannabis laws and regulations and industry best practices.
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.
Compliance – what does it mean? Compliance is a strategic concept that must be actively managed to push the business forward. Cannabis Compliance is a broad term used to describe the relationship between operations and applicable regulations. We apply our entirely subjective bong score to each event.
The Illinois Department of Agriculture (IDOA) and Division of Cannabis Regulation today issued a compliance alert for cannabis transporters in Illinois. Product cannot be held overnight by licensed cannabis transporters. A transporter agent shall not open a cannabis container. For more Illinois cannabis industry news, visit here.
Company’s Core Operational Compliance Solutions to Take the Guesswork Out of Confusing, Continually Changing Regulations for Businesses in Growing Cannabis Market. Simplifya SOPs are designed to help ensure cannabis businesses are efficiently, effectively and legally running. August 12, 2021 08:00 ET | Source: Simplifya LLC.
What strategy are you adopting to meet regulatory compliance in the cannabis industry? As a player in the cannabis sector, you could face hefty fines or even closure of business for lack of compliance. Meeting compliance in the cannabis sector is a challenge with each state passing its own laws and regulations.
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 […]
The Illinois Department of Agriculture (IDOA) recently released two press announcements dealing with the new online portal for cannabis businesses. The first announcement stated that Illinois is set to streamline cannabis business operations with the launch of the new online licensing portal (see following article about paperless system ).
Simplifya Offers a Suite of Comprehensive Compliance Solutions for Cannabis Businesses in New Mexico Ahead of Adult-Use Sales Launch. Company’s Proven Compliance Solution Helps Cannabis Operators Stay Compliant as State Readies Adult-Use Market. They outline best practices and processes for the clients’ entire organization.
The Illinois Department of Agriculture (IDOA) recently released two press announcements dealing with new online portals for cannabis businesses. The second announcement (see previous article for first announcement ) focused on the implementation of a paperless registration system for cannabis businesses. See Extension Announcement.
Cannabis Compliance – Stories from the Trenches. Thursday, JULY 15, 2021 from 6:00 PM – 9:00 PM est. Seminar from 7 – 8PM est. Hi Sean, Compliance – what does it mean? Compliance is a strategic concept that must be actively managed to push the business forward. in person, via Zoom or recorded.
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 ). That can trigger licensing obligations, background checks, or other compliance requirements. Were here to help.
Fyllo are getting busy. The post US Compliance Company Fyllo Acquires Marketing & Loyalty Tools Outfit Data Owl first appeared on Cannabis Law Report. It’s looking as though they are ramping up for changes in US Federal legislation throughout 2021-2022… Read More.
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!
introduced a never-before-seen bill—the Capital Lending and Investment for Marijuana Businesses Act (“the CLIMB Act”). What Business Services Would the CLIMB Act Protect? 8200 intends for a broad interpretation so that cannabis and cannabis-related companies are put on an even playing field with traditional business operations.
As the legal cannabis industry suffers through a period of distress brought on by global economic woes, along with punitive taxation structures and an oversaturation of products, and plummeting prices, there has naturally been an uptick in internal cannabis business disputes. Cannabis Business Agreements and Structures. Separation.
Businesses that were operating well enough to remain solvent when cannabis flower was well over $1,000 a pound are struggling to stay afloat, downsizing and laying off staff. And those profitable businesses with a proven track record of proper operations justify a higher price than enterprises operating in the red.
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.
As the Michigan cannabis industry continues to grow and mature, medical and adult-use licensees would be well served to take proactive steps to ensure compliance with Environmental, Health and Safety (EHS) regulations. Further, the MRA’s administrative rules, Mich Admin Code, R 420.14(4)(c), 4)(c), 420.14(5), Mich Admin Code, R 420.14(6),
Per the release distributed by Senator Wyden : Wyden and Blumenauer’s State Cannabis Commerce Act would make these existing protections permanent and expand them to include all cannabis producers and consumers in compliance with state law. and tribal communities.
Currently, the Cannabis Compliance Board, known as the CCB, serves as Nevadas cannabis regulatory agency. 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.
Banking has been a hurdle for cannabis businesses since the birth of the industry. Despite the fact that these businesses are state-legal, financial institutions have historically hesitated to work with them due to cannabis’ federally illegal status. It also did not normalize federal taxation for businesses within the sector.
Licensees now have until July 1, 2025 , to ensure compliance with updated product registration requirements. To ensure compliance, all legacy product registrations must be updated to include complete product details and required uploads, identical to new online registrations.
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 Illinois Cannabis Regulation Oversight Officer (CROO) released a notice for cannabis business licensees concerning packaging and labeling products. The responsibility is on the licensee to ensure compliance.” Lastly, the notice lists State resources for the law and labeling requirement for licensees.
Today, the Department of Cannabis Control (DCC) is launching CannaConnect – a resource hub aimed at helping you navigate the state’s regulated cannabis market and maintain compliance. A directory of compliance resources are available on the newly-launched CannaConnect web page: cannabis.ca.gov/cannaconnect.
Judges are frustrated, businesses are losing money, and lawsuits that should never have been filed are clogging up the courts. If you run a cannabis business, you need to know why this is happeningand how to avoid becoming the next case on the docket. Cannabis litigation is exploding. Why Are There So Many Cannabis Lawsuits?
Since the pandemic started, the business industry has gone through numerous changes. In short, it’s become a lot harder to manage a business. . However, there are certain types of businesses that, rather than losing customers, gained a considerable number instead. Mom-and-pop shops started closing one after another.
Also this week, the House Committee on Small Business held a hearing to discuss the economic and employment opportunities in the emerging legal cannabis industry and the challenges that federal prohibition and criminalization pose in regards to the Small Business Administration. CA resident? North Carolina. Update : S. WI resident?
Industry friction and compliance challenges Adjusting product formulations and packaging can be costly, particularly for small and mid-sized companies. As a result, many hemp businesses in Colorado have continued selling products that exceed the legal THC thresholds, gambling on limited enforcement.
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.
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. Update : SB 34 was approved by the Senate Business, Professions and Economic Development Committee on 4/3/19.
18, 2022 /PRNewswire/ — Burns & Levinson announced today that Max Borg has joined the firm as a partner and Douglas Ginn has joined as an associate in its fast-growing, nationally-known Cannabis Business & Law Advisory Group. and abroad. He began his career as a corporate attorney at Debevoise & Plimpton LLP.
The Cannabis Regulatory Agency (CRA) began publishing monthly disciplinary action reports related to fines and suspensions issued against Michigan’s marijuana businesses for violating agency rules. Marijuana businesses are required to submit annual financial reports, similar to audits, conducted by outside accounting companies.
I (NASDAQ: MCMJ ) (“Merida”), a special purpose acquisition company sponsored by Merida Capital Holdings, today announced that they have entered into a definitive agreement with respect to a business combination. Merida may also file other documents regarding the proposed business combination with the SEC. About Leafly. show=ffdf47e5.
Set up your grow room and cannabis cold storage for success with tips on temperature control, organization, and compliance to maintain product quality. Read More
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