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.
AB FinWright’s Rachel Wright, Abraham Finberg, and Simon Menkes share how legal cannabis businesses in New York can use the qualified New York manufacturer credit to ease their tax burdens. Reprinted with the permission of Bloomberg Tax New York cannabis cultivators and manufacturers face more challenges than most businesses in the Empire State. At the federal level, […]
Reprinted with the permission of Bloomberg Tax In a move long awaited by Empire State cannabis, the New York Senate approved legislation that would allow New York City cannabis business owners the full array of tax deductions already enjoyed by those businesses not considered by the federal government to be “trafficking in controlled substances.” The bill, which […]
Part 1 covered the news and the basics of the legislation. Part 2 dives into what you need to know before starting a business in the state.
The state legalized adult use cannabis on May 30. What’s in store for its cannabis-loving citizens and those Minnesotans who want to open a cannabis business?
Reprinted with the permission of Cannabis Industry Journal. The contentious bill, nicknamed “The Cannabis Credit Protection Act,” would require licensees to pay for goods sold no later than 15 days after the invoice is due. Supporters say it will help prevent a ballooning debt bubble in the industry and opponents say it is ripe for abuse. Cannabis […]
Should states taxes for cannabis be levied on the amount of THC in the product? New York’s cannabis tax law has many stakeholders in the market condemning this and arguing for a flat rate instead.
Reprinted with the permission of Cannabis Industry Journal A little over a year ago, we at AB FinWright took a look at the newly-opened adult-use cannabis market in Montana and posed the question: Is Cannabis the Next Gold Rush for Montana? Now, with our 20-20 hindsight, we can see that cannabis sales have taken off […]