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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. Why this clarification is important.
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 lawfulmarijuana markets.
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 marijuanabusinesses.
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. ounces of cannabis.
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.
Our archaic and outdated marijuanalaws are turning everyday Americans into criminals. Every day, the economic and social impacts of marijuana prohibition are having devastating effects on communities across the country. Millions of people have been arrested for the possession or use of marijuana. SEND A MESSAGE NOW.
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. This was mostly attributable to THCP.
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 marijuanabusinesses. Now Is the Time to Demand Congress Do MORE.
New laws expanding the medical marijuana program in Louisiana went into effect on August 1. The state’s medical marijuana program has been criticized for being too limited and too restrictive since the program was established in 2016, but the three laws that went into effect on Saturday aim to improve the situation.
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. CA resident? DE resident? Massachusetts. Update : S.
420, my bill to legalize and responsibly regulate and tax marijuana,” Wyden tweeted on February 8. It’s time to bring our country’s marijuana policies into the 21st century, and my legislation is the way to do it.”. 420, my bill to legalize and responsibly regulate and tax marijuana. “I introduced S.420, NEW: I introduced S.420,
Fighting Investment Fraud in the MarijuanaBusiness Industry. with defrauding investors about returns in cannabis businesses after Greenview used misleading marketing materials to raise over $3 million from investors. The Ongoing Battle of Marijuana Investment Fraud.
.” This marks the first time that members of the Energy and Commerce Committee will hear and debate issues specific to marijuana policy reform. Following are the bills that we’ve tracked this week and as always, check NORML’s Action Center for legislation pending in your state. CO resident? FL resident? IN resident?
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 marijuanabusinesses. Constitution. Reports Reason. Here’s the introduction to the must-read Reason story.
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%
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.
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.
However, the work of reforming our nation’s failed marijuanalaws is not suspended therefore we’re still updating you policy efforts across the country. Following are the bills that we’ve tracked this week and as always, check NORML’s Action Center for legislation pending in your state. Actions to Take.
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.
Commercial marijuana activity remains a federal crime, and the Bank Secrecy Act (“BSA”) generally prohibits financial institutions from accepting marijuana-generated dollars. That has made it very difficult for many hemp and hemp-derived CBD (“Hemp-CBD”) businesses to access bank accounts.
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.
The adult-use marijuana market in Michigan has seen a plunge in the price of marijuana. According to the Cannabis Regulatory Agency, the average price of one ounce of marijuana in December 2020 was $350.88. In contrast, the average price fell to $109.22 in September 2022. See e.g. Yates v Hartman , 488 P3d 348, (Colo 2018).
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.
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.
Supreme Court Justice Clarence Thomas recently said that the federal ban on the cultivation and use of marijuana within states “may no longer be necessary or proper” and that inconsistent enforcement led to “traps” for marijuanabusinesses. Justice Thomas doesn’t want marijuana to be legalized. federal law.
Maine’s Bangor Daily News reports… Federal and statelaw enforcement were gathered in large numbers at two Farmington marijuanabusinesses and other locations in the … Read More.
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. No, you cannot use the lease your lawyer drafted for a non-marijuana real estate scenario. No, you cannot find the right lease on Google.
A recent lawsuit filed against the Oklahoma Medical Marijuana Authority (OMMA) claims that the organization did not make its meeting agenda available to the public, which violated a statelaw known as the Oklahoma Open Meeting Act. Between January and June 2021, the state has collected $43,166.199 in state and local sales taxes.
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. Legislation is pending, Senate Bill 661, to amend marijuana possession penalties. Actions to Take.
Section 280E of the Internal Revenue Code prohibits cannabis businesses from taking any ordinary business deductions in preparing federal income tax returns. This is extremely important to understand, because 280E in many cases can result in an extremely high effective federal tax rate on the actual net profits of the business.
This week, members of the Morgantown, West Virginia city council approved an ordinance to allow police to issue $15 fines to those caught with up to 15 grams of marijuana instead of making an arrest. The Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act (HR 3884 / S. Your Highness, Carly. Actions to Take. AL resident?
The landscape of medical marijuanalaws 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.
SPOKANE — Cip Paulsen, a former federal inmate-turned marijuana businessman, is fighting for control of his firm in court against angry investors and new drug charges. To save on those electric costs, Paulsen recently switched to processing existing plants for oils and extracts, rather than growing marijuana, according to court filings.
Senator Ron Wyden introduced legislation in the Senate — The Marijuana Revenue and Regulation Act — to permit states to establish their own marijuana regulatory policies free from federal interference. House Financial Services Committee is scheduled to hold a hearing on cannabis business banking issues next week.
Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. Whether it’s federal relief or state legalization roadblocks, the virus is everywhere. Industry grou ps are advocating that marijuanabusinesses be included in that legislation. IRS AUDITS. and finally.
SPOKANE — Nearly five years on, regulators of Washington state’s legal marijuana industry say there’s more work to be done on keeping pot out of the hands of children and assisting growers facing falling revenues due to a glut of product. “We But passing the rule would limit exposure to the drug in the home, Rushford said.
The Clark County Council voted 3-2 to lift its ban on recreational cannabis businesses in unincorporated areas of the county at its Tuesday evening meeting. Both Vancouver and Battle Ground allow recreational marijuanabusinesses. Recreational cannabis businesses also must meet other licensing and permitting requirements.
Don’t forget to sign up for our email list, and we will keep you posted as these bills and more move through your home state legislature and U.S. Another great way to stay up to date is Marijuana Moment’s daily newsletter, which you can subscribe to HERE. Your Highness, Carly. Actions to Take. CO 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. The proposed changes to the code provide a definition of “marijuana.” She said these grows are difficult to inspect.
The Michigan Regulation and Taxation of Marihuana Act (“MRTMA”) does not address how Michigan’s Native American tribes participate in Michigan’s adult-use marijuana industry. HB 5706 creates a pathway for state-licensed and tribally licensed establishments to purchase from and sell to one another.
The Colombus Dispatch writes… An effort to legalize marijuana in Ohio cleared its first hurdle Friday. Ohio Attorney General Dave Yost approved revised language for a law proposed by a group called the Coalition to Regulate Marijuana Like Alcohol. The proposal would change statelaw but not the state constitution.
I am a mom, a wife, a sister, a daughter, a business owner of two local businesses, an artist, an educator and an advocate. I use my medical marijuana, and cook it down in a safe a proper method to create all sorts of different products to work with, from olive oils to hemp oils, etc.
Guam became the first US territory to send a bill legalizing the adult-use of marijuana to the governor’s desk in 2019. Governor Jim Justice (R) of West Virginia signed legislation into law that allows financial institutions to provide banking services related to the state’s medical marijuana program.
HR 420 (yes, you read that right): The Regulate Marijuana Like Alcohol Act would deschedule cannabis from the Controlled Substances Act, thus permitting state governments to regulate these activities as they see fit. Another great way to stay up to date is Marijuana Moment’s daily newsletter, which you can subscribe to HERE.
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