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In Part 1 of this 2-part series on Cannabis and Hemp, 420CPA looks at the growth of psychoactive hemp and how it has put an additional burden on an already beleaguered cannabis industry. Part 2 examines the cannabis industry’s attempts to force the genie back into the bottle. Reprinted with the permission of Beard Bros. […]
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: […]
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: […]
On December 15, 2023, California’s Office of Administrative Law (OAL) approved the CDTFA’s Emergency Regulation 3802 significantly increasing the excise tax burden on the state’s cannabis industry. Catalyst Cannabis Company, one of California’s largest retailers and a leading advocate for fair treatment of cannabis by government, has filed suit challenging Reg. 3802. If Catalyst is […]
We recently wrote about the closure of California’s High Road Cannabis Tax Credit. In another example of California’s disregard for the cannabis industry, it now appears the Department of Cannabis Control’s Equity Fee Waiver is no longer being offered. Many are worried that the CDTFA’s Vendor Compensation, whose application requires that a business be approved […]
Reprinted With The Permission Of Bloomberg Tax ABFinWright’s Rachel Wright, Abraham Finberg, and Simon Menkes say Missouri’s two cases on cannabis “tax stacking” show how the practice drives consumers to the illicit marketplace. Two cases in Missouri—one that is headed to court in May—seek to stop some counties from tax stacking a cannabis tax on […]
The Corporate Transparency Act has been halted. This injunction poses relief, and uncertainty, for small businesses grappling with compliance costs. As it faces potential Supreme Court deliberation, the act’s implications on privacy, regulatory burdens, and anti-money laundering efforts remain a critical debate. The Corporate Transparency Act, which went into effect on January 1, 2024, and […]
California’s cannabis industry faces a significant setback with the High Road Cannabis Tax Credit (HRCTC) reaching its limit far earlier than the intended end date. The rapid allocation underscores the critical demand among cannabis retailers and micro-businesses for financial relief through tax credits, highlighting the state’s complex regulatory and tax landscape for the cannabis sector. […]
Reprinted With The Permission Of Bloomberg Tax New York Gov. Kathy Hochul’s proposal to replace the state’s cannabis potency tax with an excise tax will help lower taxes for the legal cannabis industry as a whole, say ABFinWright’s Rachel Wright, Abraham Finberg, and Simon Menkes. New York Gov. Kathy Hochul (D.) on Jan. 16 recommended […]
Cannabis Companies Challenge 280E and the Controlled Substances Act with Cannabis Tax Cases As the nation’s cannabis industry eyes Washington D.C. in the hopes that cannabis will be reclassified from Schedule 1 to Schedule 3 of the Controlled Substances Act, thereby making 280E not-applicable, five companies are taking matters into their own hands with aggressive […]
