Tel Aviv Stock Exchange Launches Cannabis Index Israel Is Dominating Global Medical Cannabis Research Despite An Anti-Federal U.S. Climate Most people would be surprised to hear that Israel is the global leader in medical cannabis research. Not a surprise here...
Federal Court Of Appeals Rules That Cannabis Is Just Like Any Other Industry Subject To IRS Audits On October 20, 2020, the U.S. Court of Appeals for the 10th Circuit issued its opinion ruling against a group of Colorado cannabis dispensaries and their affiliates that...
If you did not report your offshore accounts, crypto currency income or cannabis income earned before 2019, you should hold off on filing your 2019 taxes and instead file an extension. An extension is your way of asking the IRS for additional time to file your tax...
Attention Cannabis Businesses Dealing With Cash - Beware Of IRS Required Filings That If Not Followed Could Lead To Penalties And Jail-time While there is no law making it illegal to transact business with cash, the IRS has an interest in requiring parties to report...
Evolution Of California Cannabis Law – Pending Bill Considered By The Legislature: Assembly Bill 2355 On February 18, 2020 Assembly Member Rob Bonta introduced AB 2355, which seeks to amend California Fair Employment and Housing Act to require employers to provide...
When Facing An IRS Tax Audit, How Do Marijuana Businesses Explain To IRS A Cash Stash Accumulated From The Past? With the proliferation of licensed cannabis businesses sprouting in the State Of California and a growing number of States, a lot of cannabis business will...
Federal Government Opens Up Banking For Hemp-Related Businesses On December 3, 2019 Four federal agencies (the Federal Reserve Board, the Federal Deposit Insurance Corporation, Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the...
California Raising Cannabis Taxes In 2020 The California Department of Tax and Fee Administration (CDTFA) which oversees the reporting and collection of taxes for the California cannabis industry under Emergency Regulation 3700 established a new category and tax rate...
California Cannabis Tax Relief Is Here! California Governor Gavin Newsom signed a bill into law that will approve cannabis companies for tax deductions that have otherwise been denied them under IRC Section 280E. This law give legal cannabis businesses a tax break to...
Federal Cannabis Banking Bill Moving Through Congress – If You Can’t Beat Them, Then Join Them! Under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I controlled substance due to the historical belief that it has a high...
