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...
What To Do If You Have Not Received Your Economic Impact Payment. On March 27, 2020 President Trump signed the $2 trillion Stimulus Bill formally known as the Coronavirus Aid, Relief and Economic Security [CARES] Act (the “CARES Act”) to provide assistance to...
The IRS announced on August 31, 2020 that victims of Hurricane Laura starting August 22, 2020 may qualify for tax relief. Individuals who reside or have a business in Allen, Beauregard, Calcasieu, Cameron, Jefferson Davis and Vernon parishes in Louisiana, have until...
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...
Arizona Electorate Gets Approval To Put On The Ballot A Measure to Legalize Recreational Cannabis – If You Can’t Beat Them, Then Join Them! Arizona Secretary of State Katie Hobbs tweeted that her office “has certified the signatures submitted by the Smart and Safe...
USDA Approves More States’ Hemp Production Plans Every five years, Congress passes legislation that sets national agriculture, nutrition, conservation, and forestry policy, commonly referred to as the “Farm Bill”. On December 20, 2018 President Donald Trump signed...
Twelve Illegal Cannabis Retailers Served Tax Warrants in Greater Los Angeles The California Department of Tax and Fee Administration (CDTFA) oversees the reporting and collection of taxes for the California cannabis industry. On July 8, 2020 the CDTFA announced that...
How To Handle Losses Due to Theft To Reduce California Cannabis Taxes and Sales & Use Tax With the recent wave of break-ins and robberies to local dispensaries in particular, cannabis business should not overlook this opportunity to save taxes. Cannabis Excise Tax...
