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The federal landscape for hemp and cannabinoid regulation has often been unclear, allowing for misinterpretation and loopholes. With a rapidly evolving industry, it’s no surprise that legislative efforts are ongoing. Recently, Senator Ron Wyden introduced a bill aimed at establishing federal regulations for hemp-derived cannabinoids like CBD. While this bill represents a significant step […]
New York state cannabis businesses are now subject to a 9% excise tax, effective this month. The state’s move to an excise tax from a potency tax will help some cannabis businesses survive a difficult market, while smaller businesses may lose out.The tax that aims to support legal expansion of the cannabis market by “simplifying, streamlining and reducing” obligations falls unevenly […]
Reprinted with permission of Bloomberg Tax The Drug Enforcement Administration recommended that cannabis be transferred from its status as a Schedule I controlled substance to Schedule III under the Controlled Substances Act. This means cannabis has been found to have accepted medical use and low potential for abuse. When this process is complete, the cannabis industry’s federal […]
U.S. cannabis is headed for uncharted territory. With the news that the Drug Enforcement Agency is recommending that cannabis be transferred from Schedule I to Schedule III in the Controlled Substances Act, tremendous tax consequences are about to be unleashed, with further implications for banking and interstate commerce down the line. But this transfer won’t […]
In this 2-part series, we investigate the possible legalization of adult use cannabis in Pennsylvania. Part 1 examines the two bills being currently debated by the state legislature and compares the fees, taxes, and social equity aspects of each. Part 2 investigates the concerns and controversy surrounding each bill and tries to answer the question: […]
LOS ANGELES–California, a trailblazer in the legalization of recreational cannabis, has faced challenges as the industry seeks to establish itself and cannabis companies in California make great efforts to flourish within the state. The California Department of Tax and Fee Administration (CDTFA) has emerged as a pivotal player, sparking debates and concerns within the sector […]
LOS ANGELES–California, a trailblazer in the legalization of recreational cannabis, has faced challenges as the industry seeks to establish itself and flourish within the state. The California Department of Tax and Fee Administration (CDTFA) has emerged as a pivotal player, sparking debates and concerns within the cannabis sector. In this article we delve into the […]
Cannabis and hemp, derived from the same plant, can be hard to tell apart by sight or smell. But their legal paths are quite different: hemp is legal, while cannabis is still illegal. In 2019, Texas passed a law that made hemp legal but kept cannabis illegal. This has caused confusion across the state. Some […]
When Texas Governor Greg Abbott signed Senate Bill 339, also known as the Texas Compassionate Use Act, into law in 2015, many Texans expressed frustration. The purpose of the act was to allow the THC treatment of illness via prescription, opening up the state’s medicinal cannabis market. However, the act authorized only low-THC cannabis […]
Let’s uncover the journey to adult-use legalization and what’s holding cannabis back in Texas. Penalties persist, however legislative sparks and growing public support hint at big change in the Lone Star State.
