News & Analysis as of

Decriminalization of Marijuana Income Taxes

Rivkin Radler LLP

Tax Considerations and the Reclassification of Marijuana – We’re Not There Yet

Rivkin Radler LLP on

Having been swept along for nine days “by the force of the hostile winds on the fishy sea,” Odysseus and his crew came to a strange land. After securing their ships, Odysseus sent some of his “companions ahead, telling them...more

McGlinchey Stafford

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

McGlinchey Stafford on

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

Husch Blackwell LLP

Cannabis Law Now Podcast: Cannabis Investing in the U.S. - The Good, the Bad, and the Ugly

Husch Blackwell LLP on

Cannabis investing is risky business. The current federal conflict, a punitive federal income tax situation, and an inability to access financial institutions put off many institutional investors. Not so though for Emily...more

Husch Blackwell LLP

Cannabis Law Now Podcast: Catalyst Cannabis Takes on the California Department of Tax and Fee Administration Over Cannabis Excise...

Husch Blackwell LLP on

Since legalizing in 2016, California has experienced rampant rate failure across its licensed cannabis companies. The State of California also has some of the highest and most aggressive cannabis taxes in the nation. In an...more

Rivkin Radler LLP

If You Sell Marijuana In Any Form, Uncle Sam Wants His Cut

Rivkin Radler LLP on

More and more states across the country are legalizing the sale of marijuana products for medical and/or recreational purposes, but marijuana remains effectively prohibited under federal law as a Schedule I controlled...more

Winthrop & Weinstine, P.A.

Legislative Top 5: February 19, 2021

With only three weeks until the first legislative deadline, higher profile legislative initiatives have started moving through committees and, in some cases, been voted on by the full House or Senate. Next Friday, February...more

Seyfarth Shaw LLP

The Week in Weed: September 2020 #3

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Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana....more

Seyfarth Shaw LLP

Section 280E – Why Are We Still Having This Discussion?

Seyfarth Shaw LLP on

If you are in the cannabis industry, you should already know Section 280E of the Internal Revenue Code. It consists of only one sentence...more

Bradley Arant Boult Cummings LLP

Growing Pains with Medical Marijuana Taxation - Cannabis Industry News Alert

More and more states across the South are adopting medical marijuana regimes. With this growth comes growing pains. One such pain for marijuana businesses is the tension between following state laws on a product that is still...more

Rosenberg Martin Greenberg LLP

Section 280E Remains a Problem for Maryland Cannabusinesses: How to Minimize Taxable Income through Proper Classification of...

The Maryland Medical Cannabis Commission (“the MMCC”) recently reported to the Maryland legislature on “the deleterious effects of the federal tax code on medical cannabis businesses.” As stated in its report, I.R.C. § 280E...more

McGuireWoods Consulting

Illinois Legislative Session Preview

Enhanced Democratic Supermajorities - Following the 2018 election, Illinois will be the bluest it has ever been in modern history. With incumbent Republican Gov. Bruce Rauner resoundingly losing his re-election bid to...more

Fox Rothschild LLP

Cannabis Industry State Tax Guide

Fox Rothschild LLP on

Businesses in the legalized cannabis sector face a daunting task in complying with state and Federal tax laws. This Guide is designed to assist in tax compliance by providing quick access to the relevant tax provisions in the...more

Pierce Atwood LLP

Under the Dome: Inside the Maine State House

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Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Three Percent High-Earner Tax Changes Under Consideration - Among the issues Maine’s...more

Pierce Atwood LLP

Under the Dome: Inside the Maine State House

Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Maine Legislature’s First Regular Session Launches - On Wednesday, January 4, the Maine...more

Pierce Atwood LLP

Under the Dome: Inside the Maine State House

Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Legislature Will Convene Wednesday, December 7, 2016 - The First Regular Session of the 128th...more

Pierce Atwood LLP

Under the Dome: Inside the Maine State House

Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Maine Community College System Seeks Increase in State Funding - In the upcoming...more

Pierce Atwood LLP

Under the Dome: Inside the Maine State House

Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Legislature Delays Passage of a Tax Conformity Bill - The Appropriations Committee worked on...more

Pierce Atwood LLP

Under the Dome: Inside the Maine State House

Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Double Whammy in Maine’s Paper Industry - This past week, two northern Maine paper mills...more

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