Enacted in 2021, the Corporate Transparency Act (CTA) took effect on January 1, 2024. With this act, Congress intended to combat illicit activity by requiring certain US businesses to disclose ownership information to FinCEN....more
Congratulations to those who won a cannabis social equity license in the Maryland lottery! To take advantage of this exciting business endeavor, check out these suggested priority actions and read on for essential...more
This article is part of a continuing series of articles regarding transactional legal issues in the emerging psychedelic space. With ketamine being the only approved psychedelic drug for medical use, ketamine clinics offer a...more
5/23/2023
/ Agribusiness ,
Anti-Kickback Statute ,
Business Licenses ,
Corporate Practice of Medicine ,
DEA ,
Department of Health and Human Services (HHS) ,
False Claims Act (FCA) ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Medicaid ,
Medical Foods ,
Medicare ,
Mental Health ,
Plant Based Products ,
PTSD ,
Stark Law
On May 11, 2023, New York’s Cannabis Control Board voted to approve the revised adult-use cannabis regulations. Upon publication in the New York State Register, these draft regulations are subject to another 45-day public...more
5/12/2023
/ Agribusiness ,
Bankruptcy Code ,
Business Formation ,
Business Ownership ,
Cannabis-Related Businesses (CRBs) ,
Dispensaries ,
Marijuana Regulation & Taxation Act (MRTA) ,
New York ,
Retailers ,
State and Local Government ,
Suppliers
A new industry is emerging in the United States, and entrepreneurs in the psychedelics space must make critical decisions at the onset of new ventures regarding how to set up and structure their new businesses. While there is...more
4/21/2023
/ Agribusiness ,
B Corporation ,
Business Licenses ,
C-Corporation ,
Cannabis-Related Businesses (CRBs) ,
Documentation ,
Entrepreneurs ,
Internal Revenue Code (IRC) ,
Investment ,
Jurisdiction ,
Limited Liability Company (LLC) ,
S-Corporation ,
Startups ,
Vesting
Consumers are increasingly interested in incorporating functional or adaptogenic mushrooms into their diets due to their potential health benefits, such as boosting immunity, reducing inflammation, and promoting overall...more
In a previous article, we explored one potential current opportunity for entrepreneurs interested in psychedelics and mycelium—producing non-psychoactive mushroom supplements. But are there any current commercial...more
5/31/2022
/ Clinical Trials ,
Food and Drug Administration (FDA) ,
Life Sciences ,
Pharmaceutical Industry ,
Popular ,
Proposed Legislation ,
Regulatory Standards ,
Religious Beliefs ,
Religious Exemption ,
Religious Freedom Restoration Act (RFRA) ,
Research and Development
Raising money for a company is challenging. It can be even more challenging if you haven’t been through the process before and don’t know what decisions you need to make. In this article, we will lay out ten different...more
5/11/2022
/ Business Licenses ,
Cannabis-Related Businesses (CRBs) ,
Capital Raising ,
Corporate Governance ,
Financing ,
Investors ,
Limited Liability Company (LLC) ,
SAFE ,
Securities ,
Valuation ,
Venture Capital ,
Waterfall Provision
March 31, 2022 will mark the first anniversary of former Gov. Cuomo’s signing of New York’s cannabis legalization legislation, the Marihuana Regulation and Taxation Act (MRTA). What has changed since then? And do we know more...more
Aside from a small number of companies the FDA has permitted to pursue the development of psilocybin therapies (e.g., Compass), the majority of psychedelic mushroom sales in the U.S. currently violate both state and federal...more
12/3/2021
/ Adverse Events ,
Advertising ,
Biologics ,
Controlled Substances Act ,
Dietary Supplements ,
Federal Food Drug and Cosmetic Act (FFDCA) ,
Food and Drug Administration (FDA) ,
GRAS ,
Labeling ,
Life Sciences ,
Marijuana ,
Popular ,
Reporting Requirements
The sale of securities associated with a cannabis company are subject to the same legal requirements as those of a company in any other industry, and compliance with these is more important due to higher regulatory scrutiny....more
What is a REIT?
“REIT” stands for Real Estate Investment Trust. Typically, a REIT is a corporation that has elected to be taxed as a REIT (which provides several tax advantages, including the ability to deduct dividends from...more
4/26/2021
/ Cannabis-Related Businesses (CRBs) ,
Capital Raising ,
Consolidated Appropriations Act (CAA) ,
Controlled Substances Act ,
Decriminalization of Marijuana ,
Internal Revenue Code (IRC) ,
Investors ,
Marijuana ,
Marijuana Related Businesses ,
Medical Marijuana ,
Popular ,
Private Equity ,
Real Estate Investments ,
Real Estate Market ,
REIT ,
Shareholders ,
Tenants ,
Vetting
Gov. Phil Murphy signed a package of bills into law February 22 that will create a legal adult-use cannabis market in New Jersey. Several other states—including Montana, Virginia, and New York—are either implementing or...more
3/25/2021
/ Agribusiness ,
Business Development ,
Cannabis-Related Businesses (CRBs) ,
Decriminalization of Marijuana ,
Dispensaries ,
Licensing Rules ,
Marijuana ,
Marijuana Related Businesses ,
New Legislation ,
Recreational Use ,
Regulatory Agenda ,
State and Local Government
After the success of cannabis initiatives in the 2020 elections, more and more law firms are fielding questions from their clients about potential transactions in the cannabis industry....more
3/22/2021
/ Agribusiness ,
Cannabis Products ,
Client Services ,
Contract Formation ,
Corporate Law Departments ,
Covered Transactions ,
Hemp ,
Intellectual Property Protection ,
Investment Opportunities ,
Legal Project Management ,
Marijuana ,
Real Estate Investments ,
Tax Code
What is a SPAC? Special Purpose Acquisition Companies, known as SPACs, are companies with no commercial operations set up by investors, and which exist for the sole purpose of raising money through an initial public offering...more