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Legal Status & Industry Overview 1. Is cannabis legal for business purposes in Australia? Are there any efforts to legalize recreational cannabis nationwide? There are ongoing political discussions and advocacy efforts, particularly from the Legalize Cannabis Party and the Greens. Australia Cannabis Q&A A.
Italian officials certified on Wednesday that activists collected enough signatures to place a marijuana legalization referendum on the country’s ballot this spring—though there’s still one more procedural step before the measure will officially be on its way to voters. Read more at.
While we’re on the topic of dramatic legal changes, it’s probably a good idea to talk about a California privacy law that’s about to take effect and require many cannabis and hemp companies across the nation to dramatically change their business practices—the California Consumer Privacy Act (or “CCPA”).
The Hawthorne Collective to Invest $150 million in Canadian-based RIV Capital. To that end, The Hawthorne Collective will provide a $150 million convertible loan to Toronto-based RIV Capital (TSX: RIV) (OTC: CNPOF), a cannabis investment and acquisition firm currently listed on the Toronto Stock Exchange. MARYSVILLE, Ohio, Aug.
Treasurer Tyler Klimas, Executive Director of the Nevada Cannabis Compliance Board, At-large board member Steve Marks, Executive Director of the Oregon Liquor and Cannabis Board. As we collectively analyze and respond to emerging issues in the cannabis industry, we will continue to be the preeminent voice in cannabis regulatory policy.”.
Examples for allowable uses for the Cannabis Loan Funds include rent, payroll, purchase of equipment, purchase of inventory, regulatory compliance expenses, payment of fines or penalties, certain legal expenses, and employee training. For more information about the Prevailing Wage Act, please visit here.
Nevada’s legal cannabis industry sees more than $1 billion in taxable sales for FY21 – $159 million transferred to the Distributive School Account (DSA). This is what Nevadans expected since the legalization of recreational marijuana,” Governor Steve Sisolak said.
A government coalition formed by three parties – the Liberals, Social Democrats and Greens – decided to start the process of fully legalizing marijuana in Luxembourg, making it the first European country to do so. Luxembourg’s prohibition laws differ from its counterparts in the western hemisphere, as will the rules following legalization.
WSDA will apply the measurement of uncertainty (+/- 0.06%) outlined in the USDA’s interim hemp rules to the reported THC concentration to determine if hemp material is in compliance with the 2018 Farm Bill. Certifying that the WSDA has resources to undertake the Plan. THC Testing. ” Transportation. Hemp as food.
Many cannabis businesses enter legal disputes without realizing how much time, money, and risk they are taking on. This blog post will not only explain why cannabis companies face so much litigation but also how you can protect your business from becoming another case in an already overburdened legal system.
Starting April 1st, Cannabis Operators Face CEQA Compliance Requirements for State Licenses. For many in the cannabis industry, April 1, 2022 is seen as a day of reckoning following the July 2021 passage of Assembly Bill 141 and Senate Bill 160 (collectively, the Cannabis Trailer Bill). Tuesday, April 12, 2022. Whitney Hodges.
Cannabis remediation is the process of removing or reducing undesirable elements, contaminants, or pathogens from cannabis products to ensure the products safety, quality, and compliance with regulations. Testing for Illinois cannabis producers is stricter than in most other legal states, and Illinois notoriously has dry dispensary cannabis.
Federal Legalization – Then What? Let’s think through a couple of scenarios and have a peek at the landscape in a post-legalization world. Federal Legalization – Then What? Will the mandate for the DEA be changed to oversee another special agricultural legal crop or a medicine ?
The Finnish Cannabis Association has launched an information campaign on the benefits of the plant, as well as a citizen referendum to decriminalize the personal use, possession and small-scale cultivation of cannabis, and to allow Cannabis clubs. Source: [link]. Other Resources. Wikipedia: [link]. Finnish Cannabis Assoc : [link].
CLR contributor, Brian Cusack, writes… The legalization of cannabis in Ireland has become a popular discussion around the world. While countries like Canada, Uruguay, and some states in America have legalized recreational cannabis, this isn’t a trend that has reached Ireland yet. or none at all to qualify with legal status.
There are five important “categories,” that require company leaders’ utmost focus and attention as they launch a compliant cannabis business in a newly legal state. Without compliance boxes checked, the operation will not be able to launch. In order to be a legal cannabis business, companies will need to pay up. Compliance.
Maureen West, Chief Compliance Officer for Functional Remedies LLC. For more information and to sign up for email updates, visit www.HempGrowerConference.com. Launched in November 2019, Hemp Grower’s mission is to support licensed hemp cultivators in the newly legal U.S. For more information, visit www.GIEMedia.com.
The new law legalizes cannabis possession up to one ounce, as well as cultivation of up to four personal plants per household, but requires that the grower tags their plants with their driver’s license/ID and a note saying that they are being grown for personal use. In July and August of 2020 , there were 257 arrests. View original article.
The weakness relates to the collection and remittance of Cannabis Excise Tax [“CET”] and Cannabis Cultivation Tax [“CCT”]. When the Distributor role was created, the California Legislature decided to place the majority of the collection and remittance responsibility on it [1]. The amount of cultivation tax.
This puts the onus on banks to vet their customers to ensure compliance with hemp laws and regulations. Some things that the joint guidance expressly requires banks to do are to have BSA and anti-money laundering (“AML”) compliance programs commensurate with the level of complexity and.
The premier CPA firm servicing organizations in the legalized medical and recreational cannabis industry is looking for a Tax Director/Partner. We provide technical and business advisory expertise to our clients in tax compliance, financial and business consulting, and accounting services. Public accounting: 5 years (Preferred).
Pritzker campaigned on a pledge to legalize marijuana. Given his clear pro-legalization stance, Illinois will soon win the trophy as the 11 th state to legalize recreational marijuana. Pritzker had previously made it clear he would sign any legalization bill into law. Ill-Informed Opposition. .
Leung at Arizona State University, the study explored differences in the approach to contaminants across legal cannabis states. Dr. Maxwell’s team also collected data contained in samples sourced from California. Department of Agriculture (USDA) applies to other legal consumer products. Led by Dr. Maxwell C.K. 74 solvents.
In a July 24, 2019 dated guidance, Pennsylvania’s Department of Agriculture (“DOA”) announced it will be randomly collecting and testing hemp variety samples from 25% of licensed hemp growers for tetrahydrocannabinol (“THC”) content.
information comes available such as supplier pricing, stock changes, running costs, accounting. The ERP operates as a system, collecting data in real time and connecting it all together for your. Since the ERP is equipped with all of the company’s information, the access to data is controlled. Legal Accounting.
The CCPA will require thousands of businesses, including cannabis businesses, to undertake significant compliance efforts or risk substantial penalties. For cannabis businesses, however, compliance efforts must be considered in light of other applicable privacy laws. Not discriminating against consumers for exercising their rights.
While Oregon legalized hemp production in 2015, the Beaver State has seen a huge influx of hemp grower and handler registrations since the enactment of the 2018 Farm Bill , which legalized hemp under federal law. For more information on the new permanent rules, don’t hesitate to contact our team of cannabis and CBD attorneys.
(LAS VEGAS, NV) – Today, the Nevada Cannabis Compliance Board (CCB) released its annual demographic study of Nevada’s cannabis industry. Demographic data collection and reporting will assist the CCB and the State in its efforts to prioritize diversity and inclusion in the legal cannabis industry.
The official approval by the city of Adelanto is an important endorsement for ezGreen’s POS as it highlights the efficacy of its software with respect to real-time, compliant tax reporting by dispensaries, an important source of revenue for any legal cannabis jurisdiction nationally. ” About ezGreen. Twitter: @fincannacapital.
Among these requirements is that if the producer is a business entity, the State or Tribe must collect and submit information that includes: The full name of the business, Address of the principal business, The location, full name and title of the “ key participants ”, An email address if available, and. What does this mean?
As such, compliance with the TCPA was already difficult for even the most established industries and companies. The law also has some reach, essentially imposing strict liability even when the texts/calls are made by a third party marketing company on behalf of their client. In April 2019, Eaze initially agreed to a $1.75
As Canopy continues to focus on the premium flower segment, the addition of 7ACRES and the 7ACRES Craft Collective enhances Canopy’s leading market share position and supplements its production capacity through the acquisition of Supreme’s low-cost, scalable cultivation facility in Kincardine, Ontario. Hyperion Capital Inc.
WORCESTER —On the eve of Wednesday, September 1, the Cannabis Control Commission (Commission)’s fourth birthday, adult-use Marijuana Establishments in Massachusetts surpassed $2 billion in gross sales , according to information reported in the state’s mandatory seed-to-sale tracking system, the agency announced today. Of those, 35.4
The company and its product are recognized globally and offer a collection of over 150 proprietary cannabis varieties and product lines including indoor and sungrown flower, pre-rolls, gel capsules, vape cartridges, CBD Flower and medicinal mushrooms. For more information about TerrAscend, visit www.terrascend.com.
Although medical cannabis has technically been legal in Missouri for over a year and cards have been issued, patients are still waiting desperately for dispensaries to open across the state. On November 8, 2018, Missouri became the 31st state to legalize medical marijuana. million votes.
The interim hemp rules require that these plans include a practice to collect, maintain and report information on hemp cultivators, the land where hemp is produced, and the status and number of licenses issued. Applicants must submit their contact information and a criminal history report. Hemp that tests above 0.3% Bottom line.
Good afternoon, The Governor’s Office today released a revised 2022-23 state budget proposal, building on the state’s ongoing work to make historic investments in California’s future, including efforts to create a safe, sustainable, and equitable legal cannabis market. million to help expand access to legal retail throughout California.
. “Unfortunately, unlicensed commercial cannabis activity continues to undermine the legal commercial cannabis industry and threaten the health and safety of Los Angeles residents,” said Councilman Paul Koretz, who co- introduced the motion. ” Source: [link]. ” Source: [link]. . ” Source: [link].
See “Non-IFRS Financial Measures” below for more information regarding Ionic Brands ‘s use of Non-IFRS financial measures and other reconciliations. ** Q1 2021 including results from Cowlitz County Cannabis asset acquisition, effective March 8, 2021. These preliminary fiscal results represent forward-looking information.
In a recent blog post on his website, balaclava-clad activist Outlaw has declared that cannabis is legal and that the police have no grounds to charge or prosecute anyone in possession of it. If you agree with his blog post, all you need to do is inform the police that you are not ‘unlawfully’ in possession of any ‘controlled’ substance.
Ensure compliance with local regulations and restrictions regarding cannabis consumption at the event. Collect feedback from participants to improve future events and build a stronger community around cannabis education and advocacy. How Can Cannabis Legalization Impact Social Justice Issues Within Marginalized Communities?
So, it’s been a long haul, most specifically just for the cannabis program to make sure that we were staying in compliance and doing it in a safe and sound way. There’s just so much compliance that has to happen on our end in order to protect the financial system as a whole, that it is more expensive.
The Agriculture Improvement Act of 2018 (“ 2018 Farm Bill ”) legalized hemp by removing the crop and its derivatives from the definition of marijuana under the Controlled Substances Act (“CSA”) and by providing a detailed framework for the cultivation of hemp. Certification that the state or tribal government (whichever applicable) has.
Metrc will help facilitate Mississippi’s medical cannabis program’s data collection and regulatory oversight through its robust track-and-trace platform. State regulators can also conveniently access this same information, which will be essential in creating a safe and secure marketplace for both patients and providers. “We
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