Marijuana
I Want to Get Involved in the Green Rush in Florida. How Do I Do It?
Everyone wants to get involved in the green rush of the year – cannabis. Attorney’s working in the space are getting an influx of calls about hemp cultivation and commercialization. In Florida, SB 1020 is the legal framework that will govern the hemp industry. Further, the Department of Agriculture and Consumer Services is working on…
Read MoreLocalities Continue to Ban Medical Marijuana Dispensaries
In Florida, medical marijuana is fully legal on the state level as long as it is being sold by a medical marijuana treatment center. However, setting up shop as a medical marijuana treatment center is not an easy task on all fronts, including being shut out by some localities. Multiple localities have either enacted moratoriums,…
Read MoreCannabusinesses Create Issues for Property Appraisers
The cannabis industry laws are extremely volatile. This is mainly a result of cannabis being a new industry, with a trial and error type of lawmaking process. To date, marijuana is legal in one form or another in 33 states. This new area of law, coupled with county property appraisers’ broad authority, creates an unstable…
Read MoreMEDICAL MARIJUANA IN ARKANSAS – SPECIAL PRIVILEGE TAX
MEDICAL MARIJUANA USE IS CURRENTLY ONE OF THE MOST CONTROVERSIAL TOPICS IN POLITICS. TO DATE, 33 STATES AND THE DISTRICT OF COLUMBIA HAVE LEGALIZED THE USE OF MEDICAL MARIJUANA. EACH STATES MEDICAL MARIJUANA SYSTEM LOOKS DIFFERENT ON ALL LEVELS SPANNING FROM WHO CAN USE IT ALL THE WAY TO THE TAX TREATMENT OF THE DRUG. FOLLOWING TREND,…
Read MoreWhat Does the 2019 Farm Bill Mean for the Hemp Industry?
Earlier this year, U.S. Sen. Mitch McConnell inserted language from his Hemp Farming Act of 2018 into the Farm Bill to federally legalize the cultivation and sale of industrial hemp. Congress passed the legislation Dec. 12, effectively removing hemp from the list of controlled substances and allowing states to regulate its production, commerce and research…
Read MoreCalifornia Cannabis State Tax Scheme
Going green has taken on a new meaning in the United States. Less than two decades ago, marijuana was illegal across all 50 U.S. states. Now, thirty-three states and the District of Columbia currently have passed laws broadly legalizing marijuana in some form. California activated its recreational adult-use cannabis program on January 1, 2018, and…
Read MoreMedical Marijuana Dispensaries Tax Liability Clarified in Harborside Case
A long-awaited decision came out in the end of November that affects all cannabis businesses. In this case, the Tax Court denied a California medical-marijuana dispensary’s deduction of ordinary and necessary business expenses and some of its costs of goods sold. This decision serves to provide more clarification for cannabis businesses, CPAs, and tax attorneys…
Read MoreCurrent Status of Hemp
Farmers in states where hemp is legal may be able to grow hemp under Section 7606 of the 2014 Farm Bill. In order to be in compliance, the farmer must be certified by and registered with the state department of agriculture and conducting research or a pilot program approved by the state department of agriculture.…
Read MoreCannabis Industry – Understanding and Planning for Tax Consequences on the Federal Level
The cannabis industry laws are extremely volatile, which is mainly a result of it being a new industry, creating a trial and error type of lawmaking process. However, the ever-changing laws of the industry are also driven by the many competing interests on the legality of cannabis both at the federal and state level. As…
Read MoreJudge Instructs Department of Health to Begin Accepting MMTC Registrations Per Constitutional Amendment
On Wednesday, October 3, 2018, from the bench during a status conference Judge Dodson stated: “Another two months has passed, and I do believe now we’re at the point where Florigrown will suffer irreparable harm absent the entry of a temporary injunction and that, given the public interest that can’t be more clearly stated than…
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