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Reprinted with the permission of Bloomberg Tax Rachel Wright, Abraham Finberg, and Simon Menkes explain the legislative battle over Ohio’s latest cannabis bill and its potential impact on social equity. Faced with legislative inaction on cannabis, Ohio voters approved Issue 2 on Nov. 7 and made the state the 24th in the US to allow adult-use sales. The […]
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 […]
As we approach the end of the year, getting ready for the upcoming tax season is crucial. This is especially true for those in the cannabis industry, which comes with its own set of challenges. The tax season is set to start in early 2024, and it requires careful planning and an understanding of the […]
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, […]
