Legal Affairs
Vireo Growth Completes Schwazze Assets Acquisition
MINNEAPOLIS – In a move that instantly reshapes the competitive map in two key Cannabis states, Vireo Growth Inc. has completed its acquisition of major assets from Schwazze, gaining control of dozens of established dispensaries ...
Bipartisan Bill to Delay Hemp Ban Gains 36 Congressional Sponsors
WASHINGTON – Bipartisan legislation to postpone tightened federal rules on hemp products has now secured backing from 36 lawmakers across both chambers of Congress. The Hemp Planting Predictability Act would extend the effective date of ...
PharmaCann to Shut Down its Denver Cannabis Grow Facility
DENVER – Chicago-based PharmaCann Inc., one of the largest privately held and vertically integrated Cannabis companies in the United States, has notified Colorado officials that it will permanently [?] close its major cultivation site in ...
350 Retail Cap and Tier V Cultivation Limits: What Virginia’s Scarcity Model Means for License Strategy
RICHMOND- Virginia’s adult-use design is built on scarcity and structural oversight. The 350 retail cap materially limits market density, shaping site selection and long-term valuation models. Tier V cultivation remains limited to five large operators. ...
Virginia Adult-Use Applications Expected in 2026: Operators Should Begin Structuring Now
NEW YORK- Virginia’s adult-use Cannabis legislation is now in reconciliation after both the House (HB 642) and Senate (SB 542) advanced competing sales frameworks. For operators, the question is no longer whether retail will launch—but ...
SAM in Action: How Dark Money Fuels Prohibitionists Attacks
LOS ANGELES – A noticeable uptick in anti-Cannabis content has appeared on social platforms lately, flooding threads with posts on scromiting, schizophrenia, psychosis risks, outdated research, recycled study headlines, and new ballot proposals surfacing in ...
CMS Finalizes Rule for Medicare CBD Coverage Pilot
WASHINGTON – The Centers for Medicare & Medicaid Services (CMS) has finalized regulations enabling a pilot program for federal health insurance coverage of hemp-derived CBD products, according to a recent statement from an executive at ...
Vireo Growth Completes Schwazze Assets Acquisition
MINNEAPOLIS – In a move that instantly reshapes the competitive map in two key Cannabis states, Vireo Growth Inc. has completed its acquisition of major assets from Schwazze, gaining control of dozens of established dispensaries ...
Bipartisan Bill to Delay Hemp Ban Gains 36 Congressional Sponsors
WASHINGTON – Bipartisan legislation to postpone tightened federal rules on hemp products has now secured backing from 36 lawmakers across both chambers of Congress. The Hemp Planting Predictability Act would extend the effective date of ...
PharmaCann to Shut Down its Denver Cannabis Grow Facility
DENVER – Chicago-based PharmaCann Inc., one of the largest privately held and vertically integrated Cannabis companies in the United States, has notified Colorado officials that it will permanently [?] close its major cultivation site in ...
Florida Legislators Propose Potency Caps on Cannabis Ahead of Legalization Vote
NEW YORK - In a preemptive move by Florida's lawmakers, a bill proposing potency caps on adult-use cannabis products has made progress within the state's legislative framework. The measure, known as HB1269, aims to establish ...
Arizona Embarks on Psychedelic Therapy Frontier with Psilocybin Service Center Legislation
LOS ANGELES- In a significant step towards the integration of psychedelic therapy into mainstream healthcare, Arizona is positioning itself at the forefront of a growing movement. Bipartisan lawmakers have introduced groundbreaking legislation aimed at legalizing ...
New York Governor Calls State’s Cannabis Roll-Out a “Disaster”
NEW YORK- Governor Kathy Hochul of New York has openly criticized the state's approach to rolling out its adult-use cannabis market, describing the process as a "disaster." This candid admission comes amidst a series of ...
Silo Pharma Announces Strategic Focus on Psychedelic and Traditional Therapeutics for 2024
LOS ANGELES- Silo Pharma, Inc., a developmental stage biopharmaceutical company, has outlined a strategic focus for its clinical pipeline in 2024, emphasizing the advancement of novel formulations and drug delivery systems for both traditional therapeutics ...
Planet 13 Expands into Florida with Strategic Acquisition of VidaCann
LOS ANGELES- In a bold move aimed at broadening its footprint in the burgeoning U.S. cannabis market, Planet 13 has announced its acquisition of VidaCann, a significant player in the Florida cannabis sector. This all-stock ...
California Cannabis Trade Samples Exempt from Cannabis Taxes
LOS ANGELES- The enactment of Assembly Bill 141 on July 12, 2021 radically altered the taxability of cannabis trade samples. Effective September 29, 2021, excise tax no longer applied to cannabis flower or cannabis products ...
California’s Cannabis Social Equity Benefits
Vendor Compensation, Equity Fee Waivers, and More Massive social equity efforts are being made on the East Coast on behalf of cannabis businesses (see our articles in Bloomberg and elsewhere about New York and the ...
Michigan’s Cannabis Market Defies Moratoriums with Record $3 Billion Sales
LOS ANGELES- In an impressive display of market resilience, Michigan's cannabis industry shattered records by achieving over $3 billion in sales last year, despite facing significant regulatory hurdles and a saturated market. This milestone underscores ...
Texas Attorney General Sues Cities Over Cannabis Decriminalization Initiatives
LOS ANGELES- Texas Attorney General Ken Paxton has initiated legal action against five cities within the state, challenging their adoption of voter-approved cannabis decriminalization policies. According to reports from The Hill, the lawsuit targets city ...
Maine Explores On-Site Cannabis Consumption: A Leap Towards Inclusivity and Normalization
LOS ANGELES-Amid the serene backdrop of its pine-clad hills, Maine finds itself at the forefront of a significant legislative debate—one that could redefine the cannabis industry within its borders and potentially set a precedent for ...
Irs Uses 280e To Yank Depreciation Deductions From Cannabis Companies
In light of the upcoming income tax filing season for 2022, we felt it was noteworthy to remind cannabis taxpayers that Section 179 depreciation is unavailable in the industry due to the 2022 tax court ...
What Income Are You Required to Pay Tax On?
In general, income can be received in three ways – money, services, and property – and IRS requires you to declare most of this income on your tax return. Income is taxable unless specifically exempted ...
Algernon Pharmaceuticals Inc. Advances in Global Patent Portfolio with New Approvals in China
LOS ANGELES- Algernon Pharmaceuticals Inc., a Canadian clinical stage pharmaceutical development company, has recently announced a significant milestone in its global patent strategy. The Chinese Patent Office has issued a notice of intention to grant ...
Germany Poised for Historic Cannabis Legalization: Implications and Challenges
BERLIN- Germany is on the cusp of a historic shift in its cannabis policy, with Health Minister Karl Lauterbach announcing plans for cannabis legalization this spring. This move places Germany alongside a growing list of ...
Filament Health Corp. Gains FDA Approval for Psilocybin Clinical Trials
LOS ANGELES- The U.S. Food and Drug Administration (FDA) has recently granted an investigational new drug application to Vancouver-based Filament Health Corp. (OTCQB: FLHLF) (NEO: FH) for its botanical psilocybin substance, PEX010. This approval marks ...
Additional Tax Credit Available to Cannabis
LOS ANGELES- One of the goals of California Assembly Bill 195, signed into law by Governor Gavin Newsom on June 30, 2022, was to bring tax relief to the cannabis industry, a class of businesses ...
California’s High-Road Cannabis Tax Credits Comes with Challenges for Cannabis Business Owners
The High-Road Cannabis Tax Credit offers businesses potential tax savings of $250,000 per year. However, cannabis entrepreneurs are finding the necessary qualifications difficult to meet. Issues surrounding the size of the business, the wages that ...
Arkansas Attorney General Calls for Revisions to Medical Cannabis Expansion Initiative
LOS ANGELES- In a significant development impacting Arkansas' medical cannabis landscape, the state's Attorney General Tim Griffin has called for revisions to a proposed ballot initiative aimed at expanding the state’s medical cannabis program. This ...
FSD Pharma Bolsters Board and Enhances Market Strategy with New Appointments and Partnerships
LOS ANGELES- FSD Pharma, a player in the biopharmaceutical industry with a focus on innovative assets and biotech solutions, announced a significant change in its leadership and strategic partnerships. Dr. Sanjiv Chopra, a renowned figure ...
South Dakota Senate Committee Halts Bill Limiting Medical Cannabis Access
LOS ANGELES- In a significant turn of events, the South Dakota Senate Health and Human Services Committee, with a decisive vote of 5-2, chose to halt proceedings on a bill that threatened to restrict medical ...
Connecticut Liquor Stores Utilize Legal Loophole to Sell THC-Infused Beverages
LOS ANGELES- In a surprising turn of events, Connecticut liquor stores have begun selling THC-infused seltzers by leveraging a legal loophole in the state's cannabis laws. This development, as reported by CT Insider, involves adjusting ...
Led Lighting Helps Brighten Cultivators’ Financial Statements
Tightening down a business’s expenses and reducing its tax burden is a lot like the correct captaining of a sailboat. Once you’ve got your boat pointed in the direction you want it to go, you ...
Cannabis Companies Can Save Millions With One Tax Code Section
LOs ANGELES --At cannabis accountants, 420CPA, they like to highlight cutting-edge advisors we work with closely. Here’s a recent article from Bloomberg.com by Michelle Mabugat and Zackary Nolan of the L.A. law firm Greenberg Glusker. The piece ...
Kansas Advocates Push for Medical Cannabis Legalization
LOS ANGELES- In a recent online meeting, advocacy groups in Kansas intensified their call for the legalization of medical cannabis, highlighting personal stories and the urgency for legislative action. The meeting, originally planned as a ...
Review: Beard Bros Friday Sesh Live Event: Los Angeles
LOS ANGELES-The Beard Bros Pharms Friday Sesh Live event held in the scenic confines of an undisclosed venue by the sea in Malibu was an immersive dive into the heart of California's cannabis industry. Despite ...
