News & Analysis as of

Marijuana Related Businesses

Patents in the burgeoning cannabis industry

by Farella Braun + Martel LLP on

With cannabis legal in 29 states for medical use and in eight states for recreational use, there is a surge of entrepreneurism and an influx of capital into the rapidly expanding cannabis industry. Although cannabis remains a...more

Maine’s Governor Vetoes Bill to Regulate Commercial Sales of Marijuana

On November 3, 2017, Maine Governor Paul LePage announced that he had vetoed a bill sent to his desk with tepid support that would have taxed and regulated the commercial sale of recreational marijuana. The veto prolongs a...more

Quebec Introduces New Legislation to Regulate Recreational Cannabis

On November 16, 2017, the Government of Quebec tabled Bill 157, an Act to constitute the Société québécoise du cannabis, to enact the Cannabis Regulation Act and to amend various highway safety-related provisions (Bill),...more

IRS Rifles Through Cannabis Records

A federal judge in Colorado recently upheld a summons issued by the IRS to the Marijuana Enforcement Division (MED) of the Colorado Department of Revenue. Rifle Remedies, LLC v. U.S., 120 AFTR 2d 2017-5447, (DC CO),...more

Orange County Unanimously Approves Medical Marijuana Dispensaries

Though over 71% of Florida voters in 2016 approved Amendment 2 to allow medical marijuana, the numbers were higher in Orange County. Over 73% of Orange County voters said yes to Amendment 2, and that support was reflected in...more

Fall 2017 Property Tax and Valuation Topics

by Pullman & Comley, LLC on

Property Assessment Class Action Fails - On previous occasions, the editors of Property Tax and Valuations Topics have noted that Connecticut courts tend to be rather strict in requiring property owners to pursue statutory...more

Medical Marijuana Comes to Pennsylvania (Part 3): How PA Patients Can Access Medical Cannabis

by K&L Gates LLP on

Pennsylvania’s patient and caregiver regulations answer the who and the how questions in obtaining medical marijuana. For example, how does the law distinguish caregivers from patients? What are the rights of each class of...more

Federal Government Proposes Excise Duties for Cannabis Producers

On November 10, 2017, the federal department of finance issued long-awaited legislative and regulatory proposals for the taxation of cannabis. Effectively, the proposed rules will place cannabis producers within the existing...more

Marijuana and the “Illegal/Dishonest Acts Exclusion”: Making Sense of K.V.G. Properties, Inc. v. Westfield Insurance Company

by Reed Smith on

A recent federal court decision in “a property loss insurance case” involving the unauthorized growing of marijuana could have a negative impact on the enforceability of insurance policies sold to legitimate marijuana-related...more

Provincial Cannabis Regimes Come Into Focus

Closely following the introduction of Ontario’s recent cannabis legislation, described in our November 2017 Blakes Bulletin: Ontario Introduces New Legislation to Regulate Recreational Cannabis, new details have emerged...more

Will big beverage, Canadian legislation tilt U.S. closer to federal legalization?

by Thompson Coburn LLP on

On Oct. 30, 2017, Constellation Brands, a global Fortune 500 producer and marketer of beer, wine and spirits, announced a collaboration with Canopy Growth, a provider of medical cannabis products. The collaboration is...more

Forget Limes: Corona With WEED Is in the Pipeline

Constellation Brands Inc. — the company behind Corona beer — will invest nearly $200 million for a 9.9 percent stake in Canopy Growth Corporation, a publicly traded Canadian cannabis company, plus the right to acquire a...more

Ontario Government introduces provincial legislation to regulate recreational cannabis

by Dentons on

On November 1, 2017, the Government of Ontario introduced Bill 174 which, if passed, will enact legislation to regulate the sale, use and distribution of recreational cannabis in Ontario, subject to the Federal Government...more

Ontario Introduces New Legislation to Regulate Recreational Cannabis

On November 1, 2017, the Ontario government introduced Bill 174, Cannabis, Smoke-Free Ontario and Road Safety Statute Law Amendment Act, 2017 (Bill) in the Ontario legislature, to establish regulations governing the sale,...more

Marijuana Bill Awaits Veto Decision

by PretiFlaherty on

LD 1650, An Act to Amend the Marijuana Legalization Act, was passed in both the House and the Senate on October 23, 2017. Governor LePage has until November 2, 2017, to sign the bill, veto the bill or allow it to become law...more

Under the Dome: Inside the Maine State House

by Pierce Atwood LLP on

Special Session was an Active One - The First Special Session of the 128th Legislature was convened on Monday, 10/23/17 at 10:00 a.m. The Special Session covered several key legislative matters including marijuana retail...more

Managing the Energy Impacts of the Massachusetts Cannabis Industry

by Mintz Levin - ML Strategies on

State-by-state legalization of the medical and recreational use of marijuana is creating a new industry in the U.S. that has the potential to rival our largest businesses. However, the growth of this new industry comes at a...more

IRS Audits Of Cannabis Companies And The Importance Of Substantiation

by Fox Rothschild LLP on

Today, the Tax Court issued its opinion in Feinberg v. Commissioner, a case involving an ongoing and hard fought battle between the IRS and a medical marijuana dispensary, Total Health Concepts, LLC. The IRS examined THC’s...more

New Guidance Provided for Issuers with U.S. Marijuana-Related Activities

by Bennett Jones LLP on

On October 16, 2017, the Canadian Securities Administrators (CSA), the Toronto Stock Exchange (TSX), and the TSX Venture Exchange (TSXV and together with the TSX, the TMX Group), issued long-sought guidance on disclosure...more

National Survey On Marijuana Laws And Regulations

by Fox Rothschild LLP on

Legalized cannabis – for medical or recreational purposes – is a rapidly expanding industry in the United States, with various states, including California, Colorado, Delaware, Illinois, Maryland, Nevada, New Jersey, New...more

Canadian Securities Administrators and stock exchanges provide guidance on reporting issuers with US cannabis activities

by Dentons on

On October 16, 2017, the Canadian Securities Administrators (the CSA) published CSA Staff Notice 51-352 Issuers with Marijuana-Related Activities (the CSA Notice) clarifying the CSA's disclosure expectations for issuers...more

CSA, TSX Address Treatment of Canadian Reporting Issuers with U.S. Cannabis-Related Business Activities

On October 16, 2017, the Canadian Securities Administrators (CSA) and the Toronto Stock Exchange (TSX) released staff notices regarding their respective treatment of issuers with cannabis-related activities in the United...more

In Wake of Disasters, Do Not Just Assume No Coverage Available for Cannabis-Related Losses

by Reed Smith on

As reported extensively in the media over the past week, the cannabis industry has been hit hard by recent natural disasters. While companies doing business in this industry may face some unique challenges in purchasing...more

Could Property Owners Or Tenants Who Grow, Process, 0r Sell Marijuana Make Their Property Tough To Sell?

by Fraser Trebilcock on

What Property Owners Need to Know About Title Insurance and Marijuana Facilities - If you are involved in buying, selling, or leasing real estate involving the booming marijuana industry in Michigan, beware of some...more

Massachusetts DPH Clears the Air for For-Profit Conversion of Medical Marijuana Dispensaries

The Massachusetts Department of Public Health (DPH) has provided a much anticipated pathway to enable for-profit entities to operate Registered Marijuana Dispensaries (RMDs). DPH’s Medical Use of Marijuana Program (the “RMD...more

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