Pennsylvania once again seems to have momentum to become one of the next states to legalize cannabis for adult use. After a bipartisan bill was introduced in the commonwealth’s Senate last year, the House now has submitted an...more
4/30/2024
/ Agribusiness ,
Cannabidiol (CBD) oil ,
Decriminalization of Marijuana ,
Discrimination ,
Dispensaries ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Medical Marijuana ,
Pennsylvania ,
Recreational Use ,
Retailers ,
Tax Revenues
The IRS’s Office of Chief Counsel recently published a memorandum providing information for cannabis companies struggling to comply with the completion of Form 8300, which must be filed every time a company receives a cash...more
4/8/2024
/ Agribusiness ,
Bank Secrecy Act ,
Cash Transactions ,
EIN ,
Filing Requirements ,
General-Business ,
Internal Revenue Code (IRC) ,
IRS ,
Marijuana Related Businesses ,
NAICS ,
Reporting Requirements ,
Suspicious Activity Reports (SARs)
On March 15, 2022, Illinois Governor J.B. Pritzker announced another planned lottery process to occur later this year, whereby an additional 50 new adult use dispensary licenses would be issued through a new, simplified...more
The Illinois Department of Agriculture recently released a policy for cultivators regarding the use of hemp in medical and adult use cannabis products. The policy will be in effect through October 31, 2020, although it is...more
3/31/2020
/ Cannabidiol (CBD) oil ,
Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Hemp Cultivation ,
Hemp Related Businesses ,
Licensing Rules ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
Medical Foods ,
Medical Marijuana ,
Plant Based Products ,
State and Local Government
Like all businesses navigating the current COVID-19 crisis, cannabis companies are eager to understand how state and local orders will impact their operations. As states issue orders requiring all but essential businesses to...more
With the General Assembly’s passage of the Cannabis Regulation and Tax Act, Illinois is now poised to become one of the country’s most active markets for new cannabis businesses as state regulators prepare to issue licenses...more
With momentum growing for legal adult-use cannabis in Illinois following the election of J.B. Pritzker to the governorship, the Illinois General Assembly is already proposing legislation that would loosen regulations...more