Current State Of Tax Enforcement On Cannabis Businesses If you are conducting business in cannabis in the State of California, there are several taxing authorities that have interest in your business, specifically: Internal Revenue Service (IRS), Franchise Tax Board...
If You Can’t Beat Them, Join Them – Minnesota Legalizes Adult-Use Cannabis! On May 30, 2023, Minnesota Governor Tim Walz (D) signed a bill into law legalizing recreational marijuana use in the state, this making Minnesota the 23rd state to legalize cannabis for...
If You Can’t Beat Them, Join Them – Delaware Legalizes Adult-Use Cannabis! On April 21, 2023, Delaware Governor John Carney (D) announced that he would allow a pair of bills – HB 1 and HB 2 – to become law absent his signature making Delaware the 22nd state to...
If You Can’t Beat Them, Join Them – Kentucky Legalizes Medical Cannabis! On March 31, 2023, Kentucky Governor Andy Beshear (D) signed into law a bill (SB 47) legalizing medical marijuana. The new law allows patients with recommendations from doctors or advanced nurse...
Tips For Cannabis Businesses To Prepare for the 2022 Tax Filings On January 12, 2023, the Internal Revenue Service (IRS) announced that it will process 2022 tax returns beginning January 23, 2023. The IRS states that with the three previous tax seasons dramatically...
New Tax Benefit Available for California Qualified Licensed Cannabis Retailers Beginning January 1, 2023 Beginning January 1, 2023, the responsibility for collecting and paying the cannabis excise tax to the California Department of Tax and Fee Administration (CDTFA)...
IRS Examinations Of Cannabis Businesses Expected To Rise In 2023 – Are You Ready For An I.R.C. § 280E IRS Tax Audit? Under the Inflation Reduction Act the IRS is receiving $80 billion in new funding. Speaking at an IRS facility in New Carrollton, Maryland on September...
How Did Cannabis Fare In The November 2022 Elections? The November 2022 Elections gave voters in five states—Arkansas, Maryland, Missouri, North Dakota and South Dakota—the opportunity to decide on whether they want to legalize adult-use marijuana. Here are the...
Cannabis On The Ballot This November 2022 In Five States This November, voters in five states—Arkansas, Maryland, Missouri, North Dakota and South Dakota—will decide on whether they want to legalize adult-use marijuana. The Growing Trend In Legalizing Cannabis –...
All Federal “Simple” Cannabis Possession Convictions to be Pardoned by President Biden President Joe Biden announced on October 6, 2022 that he will pardon all prior federal offenses of simple cannabis possession. Under Federal law (Controlled Substances Act 21 U.S.C....
