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Holland & Hart LLP

the buzz: Cannabis News & Policy Update - September 2024

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Welcome back to the buzz, our monthly cannabis news and policy update. Your at-a-glance source for regulatory developments, agency announcements, and trends impacting the cannabis industry. This month's highlights include:...more

Bradley Arant Boult Cummings LLP

Federal Appeals Court: Pay That Man His Money, Unless That Money Is Illegal Marijuana Money

Good news, bad news if you’re a cannabis operator that owes money to a creditor. But probably bad news for the rule of law. A federal appellate court has ruled that a cannabis operator is obligated to repay his debts to...more

Goodell, DeVries, Leech & Dann, LLP

The 2018 Farm Bill’s Effect on State Cannabis Laws

Whether you practice full time as a cannabis attorney, dabble in cannabis law, or are simply interested in the evolving federal views and laws on marijuana, you may have caught wind that the federal Agriculture Improvement...more

Seyfarth Shaw LLP

Reefer Madness – TTAB Dismisses Opposition Because Cannabis Company Lacked Bona Fide Intent To Use Its Mark

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As the prospect of federal rescheduling of cannabis looms, some in the industry are seemingly attempting to preserve their spot in line at the United States Patent and Trademark Office. A recent Trademark Trial and Appeal...more

McGlinchey Stafford

Impacts of Cannabis Rescheduling on Bankruptcy

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Despite the excitement of many over rescheduling cannabis from Schedule I to Schedule III, the move does not make cannabis “legal” unless it is produced, sold, and used within the tightly regulated parameters of the...more

Troutman Pepper

Cannabis Rescheduling: Closing of the Comment Period and What Lies Ahead

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The proposed rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA) marks a pivotal moment in the evolution of U.S. cannabis policy but may bring few practical changes to...more

McGlinchey Stafford

Is The Smoke Clearing For Bankruptcy Access By Cannabis Companies?

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With few exceptions, a cannabis-related business (CRB) will be denied access to relief under the U.S. Bankruptcy Code (11 U.S.C. § 101, et seq.) (Bankruptcy Code) because marijuana remains a controlled substance under the...more

Troutman Pepper

The Impact of Cannabis Rescheduling on State Laws and Regulations: Insights From CANNRA

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In May, the U.S. Department of Justice (DOJ) issued a notice of proposed rulemaking to transfer cannabis from Schedule I to Schedule III of the Controlled Substances Act (CSA), a change that could significantly affect current...more

Benesch

Engaging in Activities that Violate Federal Law? DOJ Scrutiny of PPP Loan Recipients Turns to Ancillary Companies Supporting the...

Benesch on

Since its inception, the cannabis industry has always existed alongside significant regulatory and compliance challenges. These largely stem from the fact that the manufacture, distribution and possession of marijuana remains...more

International Cannabis Bar Association...

[Event] Cannabis Law Institute 2024 - July 25th - 26th, Chicago, IL

The International Cannabis Bar Association (INCBA) is thrilled to announce the highly anticipated Cannabis Law Institute 2024 (CLI 2024), the marquee conference dedicated to advancing legal excellence in the rapidly evolving...more

Bilzin Sumberg

Potential Impacts of the Federal Reclassification of Marijuana

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In May, President Biden announced the Drug Enforcement Administration (DEA)’s proposed rule reclassifying marijuana from a Schedule I drug to a Schedule III drug under the Controlled Substances Act (CSA)....more

Fox Rothschild LLP

Cannabis Companies Must Wait to Seek Relief From Section 280E, IRS Says

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It is still too early for cannabis companies to try and take advantage of potential tax relief should the Justice Department (DOJ) reschedule cannabis under the Controlled Substances Act. In a recent news release, the...more

Benesch

Cannabis Industry Quarterly Update: Q2 2024

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Biden administration formally proposes moving marijuana to Schedule 3 - Attorney General Merrick Garland has proposed reclassifying marijuana to Schedule III of the Controlled Substances Act, following President Biden's...more

King & Spalding

DEA's Proposed Rule to Reschedule Marijuana Could Reduce Obstacles to Medical Research but Public Input Is Needed to Fill in...

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On May 16, 2024, the U.S. Drug Enforcement Administration (“DEA”) issued a Notice of Proposed Rulemaking (“NPRM”) to reclassify marijuana from Schedule I to Schedule III under the federal Controlled Substances Act (“CSA”) and...more

Greenberg Glusker LLP

Cannabis Reclassification: Timeline and Impact

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The federal government has started to reclassify cannabis. When, and if, that reclassification is finalized, licensed cannabis businesses should see dramatically higher after-tax income and access to services from credit card...more

McGlinchey Stafford

Paid or Incurred: Marijuana Rescheduling, Taxes, and Section 280E

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The cannabis industry knows well the economic burden imposed by Section 280E of the Internal Revenue Code of 1986 (Code). It substantially increases the cost of doing business because it disallows deductions for expenses...more

Mayer Brown

Bill & Ted’s Excellent Legislation: 2024 Cannabis Tax Developments

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In 1989’s Bill & Ted’s Excellent Adventure, Keanu Reeves plays a stoner who gets caught up in historical shenanigans. By 2014, Mr. Reeves progressed past his teenage high jinks to become a James Bond-like action hero in his...more

Lowenstein Sandler LLP

Reclassifying Cannabis, and Its Possible Impacts on Real Estate Transactions

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Today the hosts of “Terra Firma: Conversations on Commercial Real Estate,” discuss how the proposed reclassification (or “rescheduling”) of cannabis may impact cannabis businesses and their real estate holdings, especially...more

Bradley Arant Boult Cummings LLP

White Smoke: Habemus Proposed Rule Making on Marijuana Rescheduling!

The long-awaited, and recently leaked, news that DEA would begin the process of rescheduling marijuana from Schedule I to Schedule III became a reality yesterday when DEA issued a formal notice of proposed rulemaking. As we...more

Sheppard Mullin Richter & Hampton LLP

Bridging the Gap: Cannabis Rescheduling to Align Policy with Research

In a much-anticipated move, sources recently reported that the Drug Enforcement Administration (“DEA”) will recommend rescheduling cannabis from a Schedule I substance to a Schedule III substance under the federal Controlled...more

Cole Schotz

Weed it and Reap: Cannabis Rescheduling’s Impact on Tax Deductions

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As the state legalization of medicinal and adult-use cannabis spreads across the United States, cannabis producers and retailers are experiencing a rapid increase in production and sales. However, despite this boom in...more

Clark Hill PLC

Cannabis Reclassification: Litigation Impact

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In a historic move, the DEA accepted the US Department of Health and Human Services’ recommendation to reclassify marijuana from Schedule I to a Schedule III controlled substance, arguably the most significant change to...more

Epstein Becker & Green

Federal Update on Cannabis Scheduling: Are State Legalized Cannabis Dispensaries to Become Pharmacies?

A major update in cannabis law was announced by the Drug Enforcement Administration (DEA) and Attorney General (AG) this past Tuesday, April 30, 2024 regarding their intent to ease restrictions on cannabis. The DEA plans to...more

Akerman LLP

DEA Breaks Silence on Reclassification of Marijuana, Proposing Move to Schedule III

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After months of anticipation following the U.S. Department of Health and Human Services' recommendation to reschedule marijuana from a Schedule I to a Schedule III controlled substance, we finally have insight into the...more

Clark Hill PLC

The Good, The Bad and The Ugly: DEA Rescheduling Marijuana to Schedule III

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On April 30, the U.S. Drug Enforcement Administration issued a proposed rule to move marijuana from the Schedule I class to Schedule III. If approved this will be the most significant change in federal marijuana law since...more

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