article thumbnail

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.

Hemp 232
article thumbnail

Cannabis Transactions: I ❤️ Letters of Intent

Canna Law Blog

Often, these parties are not serious; or they may be collecting LOIs to try to raise funds off that paper. It’s very important, though, to be clear about the status of an agreement: state law varies on the enforceability of LOIs when the status is not clear. It’s effectively the same thing.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cannabis Taxation: C Corp, S Corp, LLC, LLP, Partnership, Nonprofit, or Something Else for Your Cannabis Business?

Canna Law Blog

Nonprofit Corporation Summary: A mission-driven entity that reinvests profits, if any, to further its stated purpose rather than distributing them to owners. An LLC taxed as a partnership may be perfect for a small, family-run dispensary, while a C corporation may be the best choice for a multi-state operator planning to go public.

article thumbnail

Locked Out: SBA’s New Lending Policy Targets Hemp and Marijuana-Adjacent Businesses

Canna Law Blog

The updated policy, effective June 1, has far-reaching consequences for small businesses operating in compliance with state law (and for some, in compliance with federal law) – especially those selling hemp-derived foods, supplements, and cosmetics (collectively, Consumable Hemp Products).

Policy 57
article thumbnail

House Members Pass Historic Legislation Legitimizing Retail Cannabis Sales

NORML

Why NORML Supports Passage of HR 1595: The Safe Banking Act: Federal law currently defines all marijuana-related endeavors as criminal enterprises, including those commercial activities that are licensed and legally regulated under state laws.

article thumbnail

Oklahoma Medical Marijuana Authority Sued for Violating State Law

SpeedWeed

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 state law 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.

article thumbnail

There won’t be a THC ‘limit’ for driving in California

The Cannigma

In addition to the toxicology recommendations, the report called for the collection and publication of data relating to the number of drivers who had cannabis in their system when they were involved in accidents or arrested for DUI. That type of data isn’t currently being collected in any centralized way.

THC 145