After several years of fits and starts, Rhode Island is finally poised to pass a substantive cannabis legalization bill as soon as next week. An amended version of the previously-proposed cannabis bill is now on the fast...more
Workers at Solar Therapeutics, a cannabis dispensary in Somerset, Massachusetts, voted last week to join the United Food and Commercial Workers (“UFCW”) union, after Solar Therapeutics’ management declined to voluntarily...more
On Tuesday, June 22, Rhode Island took a major step towards legalization of marijuana. Although House Speaker K. Joseph Shekarchi still says legalization won't be decided until after the budget process ends (perhaps even...more
This month, two congressional Republican lawmakers introduced a bill to legalize marijuana at the federal level, as well as to protect banks that service state-legal cannabis businesses and to ensure that military veterans...more
5/27/2021
/ Banking Sector ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances Act ,
Decriminalization of Marijuana ,
Financial Institutions ,
Financial Services Industry ,
Food and Drug Administration (FDA) ,
Marijuana ,
Marijuana Related Businesses ,
Medical Marijuana ,
Medical Research ,
National Institute of Health (NIH) ,
Proposed Legislation ,
Schedule I Drugs ,
Scientific Research ,
Small Business ,
Tenth Amendment ,
TTB ,
Veterans ,
Veterans Administration
A renewed effort to give the cannabis industry safe access to financial institutions and services returned to Washington last week, as the Secure and Fair Enforcement (SAFE) Banking Act was reintroduced in the U.S. House of...more
One of the most frustrating issues facing the US’s burgeoning cannabis industry has been the inequitable tax treatment that cannabis businesses face as compared to other industries. The IRS’s guidance for one section of the...more
2/22/2021
/ Cannabis-Related Businesses (CRBs) ,
Controlled Substances ,
Dispensaries ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Marijuana Related Businesses ,
Tax Court ,
Tax Credits ,
Tax Deductions ,
Tax Returns
While some states’ ongoing efforts to legalize cannabis via voter referendums have been impacted by the COVID-19 pandemic, a number of states will still be presenting the voters with questions regarding legalization of...more