As New York moves steadily closer to a fully rolled out adult-use cannabis industry, two New York state legislators recently proposed legislation that would significantly simplify the tax structure for adult-use cannabis. Under the Marijuana Regulation and Taxation Act (MRTA), New York would have charged a potency THC tax on all adult-use cannabis, plus an
We’ve written regularly about the plight of cannabis businesses not being able to secure traditional lending (and other financial services) from major, federally regulated institutions. In this post, we dive deeper into a promising federally regulated equity offering as an alternative funding means: Rule 504 under Securities and Exchange Commission (“SEC”) Regulation D. Why aren’t
Here comes more New York cannabis program litigation. After one lawsuit halted a significant portion of New York Conditional Adult Use Retail Dispensary (CAURD) program, a new lawsuit filed on March 16, 2023 by the Coalition for Access to Regulated & Safe Cannabis against the Cannabis Control Board (CCB), Office of Cannabis Management (OCM), CCB
Federal law prohibits marijuana users from owning or possessing firearms-- even in states with legal marijuana. Over the last few months, different federal courts issued critical orders in cannabis gun rights cases which could challenge this status quo. Both cases centered on the 2022 U.S. Supreme Court case New York State Rifle & Pistol Association,
In the U.S., cocaine is a Schedule II controlled substance and its use, possession, etc. is illegal except for certain, limited medical applications. The licensed sale of cocaine for recreational use is not even remotely a concept in the U.S., and the same goes for Canada. Why then did we see a Canadian cannabis company
Continuing our series on New York’s cannabis rules and regulations, we’re breaking down everything you need to know about New York's cannabis processor licenses (check out our other posts in the series here, here, here, and here). Because there is so much information packed into the regs, we’re doing this FAQ style. What are the
La Ley de Banca Segura, también conocida como Ley de Banca Segura y de Aplicación Justa (SAFE Banking Act), es una legislación muy necesaria para abordar el grave problema de la denegación de servicios financieros a las empresas del sector de la marihuana que operan en los sectores legalizados a nivel estatal. Hemos escrito ampliamente sobre la Ley SAFE Banking Act a lo largo de los últimos años. Véase aquí,
President Joe Biden just dropped the federal budget for 2024. The White House boldly claims that the tax plan will reduce the deficit by $3 trillion over the next 10 years. But several parts of the budget's tax reforms are likely to significantly (and adversely) impact the cannabis industry. Today, I'll analyze a few key
A recent lawsuit filed in California federal court serves as a good reminder to all our readers that it’s so important to be mindful of Title III of the Americans with Disabilities Act (the “ADA”). For the past several years, we’ve seen a steady flow of cases filed against cannabis companies for their alleged failures
Cannabis and business immigration don’t mix. Or at least that’s the conservative guidance we often give clients that come to us with that question. That’s not because a particular investment may not be sound, rather because federal law creates inherent conflicts between immigration eligibility and participating in a cannabis venture. Kate Robertson at MJBizDaily reported
