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In the ever-expanding landscape of the cannabis industry, where green is not just a color but a thriving economic force, the question of taxation looms large. As states grapple with the complex task of regulating and taxing cannabis, a taxing dilemma has emerged, raising critical questions about fairness, sustainability, and the industry’s long-term viability. The […]
Reprinted with the permission of Bloomberg Tax Oregon’s new tax compliance certificate for cannabis businesses adds a challenge to an industry facing decreased demand and substantial competition with illegal operations, say AB FinWright’s Rachel Wright, Abraham Finberg, and Simon Menkes. To force cannabis businesses to be tax compliant, the Oregon Liquor and Cannabis Commission in […]
Texas charts its own cannabis course, from historic restrictions to a budding medical program.
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?
