With cannabis legalization remaining a hot button issue going into 2024, many elected officials are finally using their power and sway of influence to put legislative pressure on the incumbent Biden administration. Whether on the state or federal level such as the Congressional Cannabis Caucus’...
As the American cannabis industry continues to grow at the rapid succession that it is, so too will the size of the companies that sell and produce popular cannabis brands. While the current federal law and the many provisions of the Controlled Substances Act limit...
As the American cannabis industry increases drastically in both size and total retail sales, the inevitability of federal legalization seems to be almost set in stone with every extra billion dollars that the industry produces. Although a few stubborn career politicians stand in the way...
The biggest news in the Oregon cannabis market so far in 2023 is that of Shamia Fagan receiving $10,000 per month from a company owned by Rosa Cazeras and Aaron Mitchell, the owners/operators of La Mota, arguably the second largest vertically-integrated cannabis company in Oregon,...
As the current state of the American economy is one that many of our most esteemed economists would consider to be a “recession”, industries across the United States are being affected. One such industry being drastically impacted by the sunken state of the economy is...
Every year, the IRS collects billions of dollars from cannabis business owners. If cannabis were federally legal and taxed, then federal tax revenue from cannabis commerce could rise to $18 billion a year. This significant speculative increase in federal tax revenue would be in spite...
The allure of the cannabis business has cast its net long and wide over the entire nation. Some states are already seeing the revenue generated from marijuana sales reach into the billions. Still, banking within the cannabis industry remains a prickly issue. Despite a glimmer...
Those who are thinking about entering the cannabis industry often have questions about how California taxes the production, storage and sale of the popular drug. Fortunately, California Department of Tax and Fee Administration (CDTFA) provides an in-depth guide on what is eligible to be taxed...
This article first appeared in Cannabis Now Taxation’s War on Cannabis A recent U.S. 9th Circuit Court of Appeals case could have a significant impact on the federal taxation of cannabis businesses, in particular IRC §280E issues. By Kenneth Ford Published on February 5, 2021 Harborside, a California cannabis...