News & Analysis as of

Decriminalization of Marijuana Internal Revenue Service

Husch Blackwell LLP

Cannabis Trends in 2025

Husch Blackwell LLP on

2024 was a primarily lean and flat year for the U.S. cannabis industry. The state-legal cannabis industry has been volatile from its inception, and 2024 represented a year of winnowing with many cannabis businesses failing....more

Holland & Hart LLP

Are Republicans Friend or Foe of the State-Regulated Marijuana Industry?

Holland & Hart LLP on

With Republicans’ new trifecta of control over the White House, U.S. Senate and House of Representatives, it’s likely federal marijuana policy will change. But what could – or should – federal marijuana policy look like...more

Holland & Knight LLP

Navigating Cannabis Leasing: Legal and Practical Considerations for Landlords

Holland & Knight LLP on

The cannabis industry in the United States has experienced rapid growth, with an increasing number of states legalizing the use of marijuana for medical and recreational purposes. As of 2023, nearly half of the U.S....more

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

Fox Rothschild LLP

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

Fox Rothschild LLP on

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

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

Mayer Brown

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

Mayer Brown on

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

Historic Shift in U.S. Drug Policy: DEA Proposes to Reclassify Marijuana

The U.S. Drug Enforcement Administration (DEA) is on the brink of reclassifying marijuana, marking a watershed moment in American drug policy. For decades, marijuana has been classified as a Schedule I drug, alongside...more

Vicente LLP

US Officially Recognizes Medical Use and Safety of Cannabis: The Top 6 Things to Know About Schedule III and the Process Ahead

Vicente LLP on

On August 30, 2023, the federal government formally acknowledged the medical use and low potential of abuse for cannabis, with the US Department of Health and Human Services (HHS) recommending that cannabis be rescheduled to...more

Rivkin Radler LLP

The Deduction of Cannabis Business Expenses Following New York’s 2023 Budget

Rivkin Radler LLP on

The 2023 Budget- Last week, the New York Legislature passed the State’s 2022-2023 Budget. The $220 billion Budget reflects an $8 billion increase over last year’s budget (a more than 3 percent jump). It is also $4 billion...more

Rivkin Radler LLP

Partners, S Corp. Shareholders And Biden’s 2022 Revenue Proposal: No More Business As Usual

Rivkin Radler LLP on

What A Ride- No one anticipated that the Administration’s proposed tax increases would fly through Congress easily – at least no one residing in a state in which the recreational use of marijuana has not been legalized....more

Bradley Arant Boult Cummings LLP

Medical Marijuana Money in Mississippi: Navigating the Tax Consequences of a Green Enterprise

Mississippi is on the precipice of implementing a medical marijuana regime, as Mississippians voted overwhelmingly to approve Initiative 65 last November. Those awaiting the green light should take advantage of the additional...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

Bailey & Glasser, LLP

The IRS Signals It Will Continue to Challenge Cannabis-Dispensary Business Deductions Under the Biden Administration

Bailey & Glasser, LLP on

The IRS recently indicated that it does not plan to reevaluate its position which precludes cannabis dispensaries from taking deductions for business costs and expenses under Section 280E of the Internal Revenue Code. The...more

Farrell Fritz, P.C.

The Biden Presidency: How Will Cannabis Business Be Taxed?

Farrell Fritz, P.C. on

Wither the Weed? It has been one month since Mr. Biden’s inauguration as President of the United States. Among the many questions being asked of President Biden is whether he will seek the decriminalization of cannabis....more

Seyfarth Shaw LLP

The Week in Weed: September 2020 #3

Seyfarth Shaw LLP on

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

International Cannabis Bar Association...

[Virtual Conference] The Cannabis Law Sessions - June 2nd

Join INCBA for our third annual presentation of The Cannabis Law Sessions. We will present six hours of CLE focused on emerging issues in the US and Global Cannabis Markets - Online Streaming. Curriculum - Cannabis...more

Seyfarth Shaw LLP

The Week in Weed: March 2020

Seyfarth Shaw LLP on

To cap or not to cap, that was the question facing the state of Florida this week.  Lawmakers wrestled with the issue of capping THC content in medical marijuana for those patients under the age of 21.  The Senate Rules...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

Brownstein Hyatt Farber Schreck

Taxation & Representation, January 2019 #3

MEET THE MEMBERS - As we approach the third week of the new session, the tax writing committees have been formally announced, and we at Brownstein want to introduce you to all of the new faces. This week, we feature new...more

Fisher Phillips

November 2017: The Top 14 Labor And Employment Law Stories

Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes each month in 2017. November was no...more

Littler

Workplace Policy Institute Insider Report — November 2016

Littler on

Littler's Workplace Policy Institute Insider Report details key labor, employment, and benefits news and events at the federal, state, local, and global levels. The November edition of the Insider Report turns a spotlight on...more

24 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide