Legal Affairs
Australia’s Medicinal Cannabis Imports Hit Record Highs
SYDNEY – Figures released this week by Australia's Office of Drug Control paint a picture of robust expansion in the country's regulated Cannabis sector, with imports leading the charge alongside steady advances in domestic output ...
California Reinstates 15% Cannabis Excise Tax Through 2028
LOS ANGELES – A measure signed by Governor Gavin Newsom last month took effect on Wednesday, dialing back California's Cannabis excise tax to 15% and holding it steady at that level until at least the ...
Trump Video Fuels Cannabis Stock Surge, Yet Analysts Question Depth of Policy Shift
LOS ANGELES – A recent video posted by President Donald Trump on Truth Social, touting support for CBD products under the Farm Bill, triggered a sharp but fleeting uptick in valuations for major multi-state Cannabis ...
NY Regulators Delay Hearing in Bid for Settlement with Cannabis Dispensary Owners
NEW YORK – New York state Cannabis regulators have postponed a key hearing on a disputed proximity rule, aiming to negotiate a resolution with affected dispensary operators. The move comes after a lawsuit from business ...
Cannabis Stocks Rally but Remain Undervalued Relative to Peers, Viridian Report Finds
LOS ANGELES – U.S. Cannabis companies have posted impressive gains this year, yet their valuations still trail those of comparable industries, a new analysis from Viridian Capital Advisors indicates. The Weekly Chart by Viridian plots ...
Week In Review: Cannabis & Psychedelics Industry Highlights
LOS ANGELES – Recent developments in the Cannabis and psychedelics sectors point to a period of cautious optimism, marked by stock gains, legal battles, and innovative expansions. From property value boosts tied to legalization to ...
Case Study: Navigating Cannabis Tax Hikes in California & New Mexico
LOS ANGELES- In July 2025, cannabis operators in California and New Mexico woke up to another line item tightening their margins: higher excise taxes.California’s excise tax jumped from 15% to 19% — a 25% increase. ...
Australia’s Medicinal Cannabis Imports Hit Record Highs
SYDNEY – Figures released this week by Australia's Office of Drug Control paint a picture of robust expansion in the country's regulated Cannabis sector, with imports leading the charge alongside steady advances in domestic output ...
California Reinstates 15% Cannabis Excise Tax Through 2028
LOS ANGELES – A measure signed by Governor Gavin Newsom last month took effect on Wednesday, dialing back California's Cannabis excise tax to 15% and holding it steady at that level until at least the ...
Trump Video Fuels Cannabis Stock Surge, Yet Analysts Question Depth of Policy Shift
LOS ANGELES – A recent video posted by President Donald Trump on Truth Social, touting support for CBD products under the Farm Bill, triggered a sharp but fleeting uptick in valuations for major multi-state Cannabis ...
Call for Enhanced Research and Surveillance on Ketamine Treatments
LOS ANGELES A recent publication in the Journal of American Medical Association (JAMA) Psychiatry has underscored the urgent need for increased research and surveillance in the realm of ketamine treatments. Authored by Dr. Samuel T. ...
North Carolina Welcomes Its First Adult-Use Cannabis Dispensary on Tribal Land
NEW YORK- In a groundbreaking move for North Carolina's cannabis industry, the Eastern Band of Cherokee Indians is poised to unveil the state's inaugural adult-use cannabis dispensary. Slated for an April 20th opening, this development ...
NYC Councilwoman Accuses Landlord of Aiding Illegal Cannabis Shop
NEW YORK- In a conflict highlighting the challenges of regulating the burgeoning cannabis market in New York City, Gale Brewer, an Upper West Side Councilwoman, has accused a local landlord of facilitating the operation of ...
MariMed Reports Fourth Quarter and Full Year 2023 Earnings
NEW YORK- MariMed Inc., based in Massachusetts and operating across several states, reported its financial outcomes for the fourth quarter and the full year of 2023, revealing both achievements and challenges within a competitive cannabis ...
Florida Senate Approves Stringent Hemp Regulation Bill
LOS ANGELES- In a decisive move that could reshape the landscape of the hemp industry in Florida, the state legislature has passed a bill aimed at regulating hemp-derived products, including the prohibition of certain natural ...
MedMen’s Turbulent Journey
LOS ANGELES- MedMen Enterprises, once hailed as a titan in the cannabis industry, faces a starkly uncertain future as it shuts down the majority of its dispensaries in California, its home state. The closures, which ...
Ohio Moves to Drastically Reduce Medical Cannabis Registration Fee to One Cent
LOS ANGELES- In a significant step toward making medical cannabis more accessible to patients, Ohio has announced plans to reduce the registration fee for medical cannabis patients to a nominal one cent. This move, aimed ...
U.K.’s Medical Cannabis Use Rises Amid ADHD Medication Shortage
NEW YORK- The United Kingdom is witnessing a notable shift towards medical cannabis as an alternative treatment for Attention-Deficit/Hyperactivity Disorder (ADHD) amid a severe shortage of stimulant-based medications. The scarcity of these essential drugs has ...
Florida’s Cannabis Legislation: A Delicate Balance Between Reform and Regulation
LOS ANGELES- In Florida, a state on the cusp of major cannabis reform, recent legislative endeavors have sparked a complex dialogue about the future of cannabis regulation. Proposals for stringent THC potency caps, even before ...
Thailand’s Shift: From Decriminalization to Recreational Cannabis Ban
LOS ANGELES- Thailand's journey with cannabis policy has taken a significant turn as the nation's health minister, Cholnan Srikaew, announced plans to reinstate a ban on recreational cannabis use by the end of the year. ...
Obituary: Troy Datcher: CEO The Parent Company
LOS ANGELES- Troy Datcher, board chair of Gold Flora Corp. and a prominent Black leader in the cannabis industry, died Feb. 26 after a brief hospitalization. He was 55. Originally from Alabama, Datcher is mourned ...
Limits on the Installment Method of Accounting For Gain
By Rachel Wright, Simon Menkes, & Abraham Finberg- CPAs licensed in California of AB FinWright LLP & 420CPA, and Andrew Gradman, Esq of Andrew Gradman Tax This is Part II of II of our series ...
Verano Holdings Financial Highs and Lows in 2023
LOS ANGELES- Verano Holdings, a player in the cannabis industry, showcased a mixed financial performance for the year ending December 31, 2023. The company reported a significant revenue uptick, reaching $938 million, marking a 7% ...
Q4 Earnings Report: Trulieve Claims Company Secured $113 Million in Tax Refunds
LOS ANGELES- In a move that has got the attention of the U.S. cannabis industry, Trulieve Cannabis Corp., a leading multi-state operator, announced it has successfully reclaimed $113 million in tax refunds, challenging its dues ...
IRS Penalty Abatement – How Does It Work?
It is never fun to receive a letter from IRS, especially one that says you are being assessed penalties due to filing late, paying your taxes late, or understating income on your tax return! In ...
Revive Therapeutics Advances Clinical Research with Completion of Funding Round
LOS ANGELES- Revive Therapeutics Ltd. has successfully concluded the final tranche of its previously announced private placement, marking a significant milestone in the company's fundraising efforts. This move, detailed in press releases dated January 24, ...
Utah Lawmakers Push for Protections for Medical Cannabis Patients
LOS ANGELES- In a significant legislative push, two key Utah state lawmakers are spearheading a bill aimed at safeguarding the rights of medical marijuana patients against discrimination by local governments. This initiative follows the 2018 ...
Barcelona to Host Landmark International Cannabis Business Conference in Partnership with Spannabis
LOS ANGELES- Barcelona, renowned for its vibrant cannabis culture and history, is set to host the next edition of the International Cannabis Business Conference (ICBC) on March 14, 2024. This event marks a significant partnership ...
Ukraine Embraces Medical Cannabis: A New Frontier in Healthcare
NEW YORK- On February 15th, Ukrainian President Volodymyr Zelenskiy inked his signature on a bill that legalized the medical use of cannabis, as revealed by a parliamentary database on Thursday. This pivotal move followed advocacy ...
First Citizens Bank Makes Historic Leap into Cannabis Banking Landscape
NEW YORK- In a surprising move that has sent shockwaves through the financial sector, First Citizens Bank, the 19th largest bank in the nation boasting over $200 billion in assets, has announced its bold foray ...
Strategic Merger Unites Chicago Atlantic and Silver Spike, Reshaping Cannabis Financing Landscape
In a notable development within the cannabis financing sector, Chicago Atlantic and Silver Spike, two prominent lenders, have announced their merger. This strategic move is poised to create a significant shift in the landscape of ...
Green Thumb Industries Reports Fourth Quarter and Full Year 2023 Results
CHICAGO and VANCOUVER, British Columbia, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today ...
Requesting a Private Letter Ruling
You may someday find yourself in a unique tax situation and want to remove any uncertainty of the tax treatment of that situation. In that case, you can request a Private Letter Ruling (PLR) from ...
Pennsylvania Borough Advances Towards Cannabis Decriminalization
LOS ANGELES- In a notable move within the state's evolving stance on cannabis, North York borough in York, Pennsylvania, is on the brink of decriminalizing possession of small amounts of cannabis. This initiative positions the ...
PharmaDrug Appoints New Chairman Amid Strategic Corporate Shifts
LOS ANGELES- PharmaDrug Inc. a specialty pharmaceutical firm dedicated to the advancement and commercialization of controlled substances and natural medicines, including psychedelics and previously sanctioned drugs, announced a significant leadership restructure. The company confirmed the ...
