Cannabis Recession on the Horizon A cannabis recession may be coming and no cannabis business is immune. Prices are rising, operations are expensive to run, over regulation is rampant, local control is stifling, and you can’t even take many business deductions with the IRS because of IRC 280E. While things like interstate commerce agreements are
It’s no secret that California cannabis is suffering for a variety of reasons, not least of which is the stranglehold on access caused by local control. Local control is never going away in cannabis. It’s one of the linchpins that gets voters to approve cannabis ballot measures (NIMBYs in particular love local control even though
During a little advertised Cannabis Control Board (CCB) meeting, the CCB announced and approved a Limited Partnership Agreement for New York’s Social Equity Fund. As a brief refresher, the Social Equity Fund was mandated by the Marijuana Regulation and Taxation Act (MRTA). On January 5, 2022, Governor Kathy Hochul announced that the fund would be,
Our litigation team regularly attends mediations both before a lawsuit is filed and while a lawsuit is pending. We’ve covered mediation in the past, but for those who are unfamiliar, mediation is essentially a conference in which parties sit down together, generally with a neutral third party, to see if they can resolve cannabis litigation
As part of New York Cannabis Control Board’s (CCB) meeting on August 15, 2022, the CCB proposed and approved John Kagia as the Office of Cannabis Management’s Director of Policy. Given the expansive and stratified plans for New York’s adult-use cannabis industry (with the general ban on vertical integration, emphasis on social equity and advanced
As part of New York’s Cannabis Control Board (CCB) meeting on September 20, 2022, the CCB passed a resolution to permit the Office of Cannabis Management (OCM) to adopt revised regulations for home cannabis cultivation. To be clear, pursuant to the Marijuana Regulation and Taxation Act (MRTA), home cannabis cultivation is currently limited to medical
Mike Tyson wants to market cannabis edibles shaped like ears with bite marks in them. Love him or hate him, you have to admit it’s clever. He’s apparently having a hard time getting his “Mike Bites” to market, due to regulators who apparently can’t take a joke or regulations that don’t seem to make any
The struggles of failing marijuana businesses to wind down and pay creditors in an orderly fashion serve no one. Among the problems marijuana businesses face such as lack of access to banking and onerous taxation stemming from IRC 280E is the lack of access to bankruptcy proceedings. This post discusses a Michigan-based medical marijuana company
Contract dates are among the most basic, fundamental aspects of any contract– cannabis or otherwise. Nevertheless, parties often mess them up or overlook them in potentially disastrous ways. Today, I want to look at a few key contract date issues and what they mean. Key contract date terms An execution date is the date on which
A very big congratulations to a longtime Oregon cannabis client, and to our trial team, which just won a decisive, hard-fought victory in a nine-day jury trial in Portland, Oregon, led by Harris Sliwoski attorney Jesse Mondry. This complex case concerned the failed merger of 26 California and Oregon cannabis companies. Harris Sliwoski’s client is
