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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 […]

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. […]

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 […]