It is not all doom and gloom for the cannabis industry this year; positive developments across states and the potential (albeit remote) for federal rescheduling means the cannabis industry can expect ongoing advancements....more
3/27/2025
/ Cannabis Products ,
Compliance ,
Controlled Substances Act ,
Corporate Transparency Act ,
Data Privacy ,
DEA ,
Department of Health and Human Services (HHS) ,
Enforcement Actions ,
Marijuana ,
New Legislation ,
New York ,
Popular ,
Proposition 65 ,
Regulatory Reform ,
Regulatory Requirements ,
State and Local Government
On January 13, the chief administrative law judge of the US Drug Enforcement Administration (DEA), John Mulrooney, postponed the highly anticipated hearing on the rescheduling of cannabis under the Controlled Substances Act...more
1/28/2025
/ Cannabis Products ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances ,
Controlled Substances Act ,
DEA ,
Food and Drug Administration (FDA) ,
Internal Revenue Code (IRC) ,
IRS ,
Marijuana ,
Marijuana Related Businesses ,
Regulatory Agenda ,
Schedule I Drugs ,
Tax Credits ,
Tax Planning
This past August, the US Drug Enforcement Administration (DEA) announced plans to hold an administrative hearing on its proposal to move “marijuana” from Schedule I of the Controlled Substances Act — the most restrictive...more
As we discussed during our recent webinar, the administrative process associated with the US Drug Enforcement Administration’s (DEA) proposed rescheduling of “marijuana” should be expected to proceed slowly and deliberately....more
To change its method of accounting, a taxpayer must receive consent from the IRS and should provide evidence showing the change in business activity, so that the IRS can confirm that the change in method of accounting will...more