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There is no doubt that the COVID-19 pandemic is adversely impacting businesses around the world, and smaller businesses especially. In short, federal anti-drug laws continue to define the state-authorized cannabis industry, and those who work in it, as drug felons. even if the business is legal under local or statelaw.”
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?)
Majority Leader Hoyer on Friday announced that members of the House are anticipated to hold a floor vote next week on The SAFE Banking Act (HR1595), which explicitly permits banks and other financial institutions to work directly with state-legal marijuana businesses.
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 statelaw. The study, entitled The Great Hemp Hoax , was released Feb. percent THC. A New York Times story (Jan.
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. In some states operating agreements are required by law.
California’s attorney general argued in a recent court filing that none of the state’s cannabis businesses operating on provisional licenses … Read More. The post California’s AG Argues “none of the state’s cannabis businesses operating on provisional licenses are entitled to due process under statelaw.”
The new law also limits personal possession to two ounces, but there is no limit on the amount of cannabis stored at a person’s home. The Cannabis Regulation Act, however, allows adults who are at least 21 years old to purchase up to two ounces of cannabis flower in each purchase, with no limit on the number of purchases.
The Sensible Enforcement Of Cannabis Act essentially would give peace of mind to lawmakers, regulators, 149,000+ workers, and the millions of patients and consumers who are dependent on the normalization of lawful marijuana markets.
A recent raid of a business selling delta-8 THC products in Gwinnett County, Ga., has sparked litigation in the state. A recent raid of a business selling delta-8 THC products in Gwinnett County, Ga., Hemp Grower reports. has sparked a lawsuit against authorities. Read more at [link].
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 statelaw. and tribal communities.
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. Now Is the Time to Demand Congress Do MORE.
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 ). Federal law isnt on your side Under federal law, cannabis with more than 0.3% Even some products with 0.3%
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!
A new lawsuit in Georgia seeks a court order declaring that a chemical related to the main intoxicating ingredient in pot is legal under statelaw. Delta-8 has become extremely popular across the country, and the cannabis industry and state governments have grappled with its rise. Read more at: [link].
House of Representatives just voted to restrict the Department of Justice from interfering with the states that have legalized adult-use marijuana. New York state lawmakers approved legislation on Friday to further expand cannabis decriminalization and expunge certain records. The bill now heads to the Governor. CA resident?
A month later, it held another work session on changes to the county’s land-use and planning code that would make way for legal cannabis and specify where pot businesses can be located. They also reflect updates to statelaw, such as eliminating “collective gardens,” which were previously used for medical marijuana.
Our archaic and outdated marijuana laws are turning everyday Americans into criminals. Our outdated marijuana laws also target communities of color. The contradiction between state and federal laws on marijuana has created a serious problem for small businesses and stunted further economic growth.
Given this significant growth forecast, sensitive business information (also known as trade secrets) has become an incredibly valuable asset for Hemp-CBD stakeholders. Realizing value from those trade secrets requires sharing them with business partners and employees. Under Oregon law, a trade secret is defined as.
Ohio Attorney General Dave Yost approved revised language for a law proposed by a group called the Coalition to Regulate Marijuana Like Alcohol. The law, called “An Act to Control and Regulate Adult Use Cannabis,” would allow adults age 21 and older to buy, possess, grow and use marijuana.
As the tentacles of the federal policy of cannabis prohibition run deep into nearly every sector of American public policy, a new voice emerged to call for clarity regarding state-legal cannabis marketplaces: Federal Reserve Chair Jerome Powell. Cannabis businesses ought to be held to the same standards as other commercial enterprises.
Section 280E of the Internal Revenue Code prohibits taxpayers who are engaged in the business of trafficking certain controlled substances (including, most notably, marijuana) from deducting typical business expenses associated those activities.
It’s no secret many cannabis businesses can’t get bank accounts or loans or lines of credit from financial institutions because of the Bank Secrecy Act and federal anti-money laundering laws — despite current FinCEN guidance. The concept of starting a cannabis business on a shoestring budget has never really existed.
Operating cannabis-based businesses in The Golden State is no easy feat for retailers. Based on federal law, anyone who cultivates, sells, consumes, possesses, distributes, or transports the plant will face criminal prosecution in federal court. ” Cannabis Companies Require State and Local Licenses.
The language states: The Committee encourages OPM to review its policies and guidelines regarding hiring and firing of individuals who use marijuana in states where that individual’s private use of marijuana is not prohibited under the law of the state. The language was included by Rep. In a release , Rep.
Financial institutions that work with marijuana businesses must conduct due diligence to ensure that marijuana businesses are complying with statelaw. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts. That is changing.
Veazey on March 27, 2023 For at least the past decade, federal bankruptcy courts have routinely prohibited cannabis businesses from seeking protection under federal bankruptcy law, regardless of whether a cannabis business is legally operating under statelaw.
On January 1, 2022, two new statelaws will become effective in Illinois and Oregon and could cause significant disruption to the vapor industry. We provide background on the legislation and discuss the potential implications for the sales of vapor products in the respective states. By Azim Chowdhury & Taylor D.
The landscape of medical marijuana laws in the United States is complex and continually evolving. With federal and state regulations, varying laws by state, and ongoing updates, it’s crucial to have a comprehensive understanding of this ever-changing field.
At the state level, a new decriminalization law took effect this week in Hawaii involving the possession of up to three grams of marijuana, as well as a procedure for expungement of past convictions for the same amount. Legislation is pending, House Bill 1089, to protect cannabis consumers from employment discrimination. CO resident?
One of those five debtors leased property to a company that used the land to grow cannabis in compliance with Washington statelaw. After filing for bankruptcy, the debtor-landlord continued to accept rent from the cannabis business. This argument historically has prevailed. The Ninth Circuit didn’t agree with the U.S.
We have written many times over the past few years about how the bankruptcy courts are off-limits to state-legalized cannabis businesses. However, the CSA contains an exemption, whereby section 863 does not apply to any person authorized by statelaw to manufacture, possess or distribute drug paraphernalia.
The Institute for Justice argues that the seizures violated statelaw, federal law, and the U.S. It includes cops who use federal civil forfeiture laws to steal money earned by state-legal marijuana businesses. Constitution. Reports Reason. Here’s the introduction to the must-read Reason story.
Attorney General William Barr said during his confirmation hearing in January that the Justice Department would not go after marijuana companies in states where cannabis is legal, even though the drug is outlawed under federal law.
Every year, employers find themselves revisiting their marijuana and drug testing policies to account for newly enacted laws at the state and local level. There are numerous positions and industries exempt from the law. Now is no different. Below are some highlights of what happened in 2021. Connecticut. New Mexico. New Jersey.
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.
Australia Cannabis Regulations: Federal and State Overview Australias cannabis laws are complex, with federal, state, and local regulations all playing a role in determining the legal framework. Businesses looking to enter Australia’s medicinal cannabis market must understand how these jurisdictions overlap.
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. Be sure your lease complies with state and local laws. Real estate is, by its character, tied to local laws.
In the US, the laws determining the status of cannabis use vary from state to state and continue to change over time. Texas has one such cannabis program in flux, with a new bill being introduced that may change the legality of recreational marijuana within the state.
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. Governor Michelle Lujan Grisham (D) of New Mexico signed cannabis decriminalization legislation into law.
Nevada, like most states, has legalized cannabis for medicinal use. Although permitted under statelaw, a Nevada employee may still face discipline under a company’s drug policy. As a matter of first impression, the Nevada Supreme Court recently decided that employees may sue employers who violate that law.
This would be a good time to review the branding protection avenues available to cannabis business owners, and to discuss celebrity branding. We call the rights granted from usage, and without any sort of registration, “common law” trademarks.
Citing growth in hemp-related commerce, the NCUA emphasized the need for credit unions to understand the gamut of regulation across jurisdictions in order to lend lawfully to hemp-related businesses. Yet, it also noted that states and Indian Tribes laws cannot prohibit the transportation of products produced lawfully under federal law.
The majority opinion held that there as nothing in the ballot materials for the law that indicated voters had considered or were even aware of how this might impact possession of the drug in prison. The court stated, “it seems implausible that the voters intended to essentially decriminalize marijuana in prison.”
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