Why In 2021 Is Taxation Related To Cannabis Businesses So Complicated? Beware 2021 Could Be A Banner Year For IRS Audits Of Cannabis Businesses. We previously reported in our blog that the Trump Administration organized a committee of federal agencies from across the...
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...
UN Votes To Remove Cannabis From Schedule IV Drug Classification The United Nations Commission on Narcotic Drugs held a vote on December 2, 2020 that medical cannabis be taken off the Single Convention on Narcotic Drugs (1961) Schedule IV list. The list contains other...
Getting Harder For Legal Cannabis To Find Banking Even though more and more states are allowing the sale of cannabis at the medical and/or recreational level, it is still a business that deals essentially in cash only. Why? Because most traditional banks refuse to...
Record Percentage of Americans Say “Cannabis Should Be Made Legal” 68% of Americans support legalizing the possession and use of cannabis by adults, according to recent nationwide polling data compiled and reported by Gallup. 1969, when Gallup first began surveying...
Election 2020: The Results Are In And Cannabis Is Declared The Winner! On November 3, 2020, voters in five states (Arizona, Mississippi, Montana, New Jersey and South Dakota) passed new medical or recreational cannabis laws. South Dakota voters adopted legalization...
IRS Releases Tax Guidance For Cannabis Industry The Internal Revenue Service released updated guidance on tax policy for the cannabis industry. The new guidance briefly covers the rules for income reporting, cash payment options, estimating tax payments and keeping...
Election 2020: States Voting On Cannabis Legalization This November This year, voters in five states (Arizona, Mississippi, Montana, New Jersey and South Dakota) will decide whether to adopt either new medical or recreational cannabis laws with South Dakota looking to...
Inyo County Sheriff’s Department Shuts Down Massive Illegal Cannabis Farms Located In The California Wilderness Anyone conducting business in cannabis surely knows that under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I...
U.S. Appeals Court Rejects California Cannabis Business’ Tax Dispute Due To Mailing Mix-Up Two California-based cannabis companies had their petition thrown out of appeals court after it was delivered to court a day late by an unapproved delivery service. Organic...
