News & Analysis as of

Marijuana Related Businesses Tax Revenues

Greenbaum, Rowe, Smith & Davis LLP

Will Rescheduling Cannabis Open the Industry to Increased Financing, Real Estate and Banking Opportunities?

On May 16, 2024, the U.S. Department of Justice (DOJ) issued its proposed rules to transfer cannabis from Schedule I of the Controlled Substances Act (CSA) to Schedule III of the CSA. The DOJ’s proposal follows the U.S....more

McGlinchey Stafford

Marijuana Rescheduling is Here: How DEA’s Decision Will Impact Cannabis Businesses

McGlinchey Stafford on

After fifty years, the federal government finally acknowledged that marijuana has medical value and is not as dangerous as heroin. As first reported by the Associated Press and confirmed by Marijuana Moment, on April 30,...more

Fox Rothschild LLP

New Adult-Use Cannabis Law Proposed in Pennsylvania

Fox Rothschild LLP on

Pennsylvania once again seems to have momentum to become one of the next states to legalize cannabis for adult use. After a bipartisan bill was introduced in the commonwealth’s Senate last year, the House now has submitted an...more

Husch Blackwell LLP

Wisconsin Medical Marijuana…Maybe

Husch Blackwell LLP on

I split my time between Los Angeles and Milwaukee these days (I’m eligible to practice law in Wisconsin), and I often find myself working from my firm’s Milwaukee office depending on the month. Wisconsin is an incredibly...more

McGlinchey Stafford

The Hits Keep Coming to Ohio Marijuana: Legislature Proposes More Limits to Adult-Use Law

McGlinchey Stafford on

Last week the Ohio House proposed legislation designed to revise a number of aspects of Issue 2, the Ohio Marijuana Legalization Initiative, passed by over 57% of Ohioans in November. Today, the Ohio Senate proposed its own...more

McGlinchey Stafford

Ohio Marijuana: House Member Introduces Bill to Amend Recently Passed Adult-Use Law

McGlinchey Stafford on

Ohio Republicans have begun to propose legislative changes to the recently passed Issue 2, the Ohio Marijuana Legalization Initiative (Initiative), passed by over 57% of Ohioans in November. House Bill No. 341 (the Bill) was...more

Clark Hill PLC

The Cannabis Cure for the Public Pension Crisis

Clark Hill PLC on

Pensions are, and have been, an important compensation component for public employees, including teachers, police, fire, and other municipal positions. However, limited funds and riskier investments are threatening pension...more

Benesch

Cannabis Industry Quarterly Update: Q2 2023

Benesch on

There Has Been Little Movement in Federal Legalization. This has led to cannabis investors and companies to downgrade expectations for federal legalization and focus their strategies on state reform. Federal lawmakers...more

Miller Nash LLP

Much Ado about Taxes: OLCC Releases Proposed Tax Compliance Rules

Miller Nash LLP on

Tax policy is an interesting animal and odd results occur whenever non-tax people get involved in developing tax policy. Oregon Governor Tina Kotek and the Oregon Liquor and Cannabis Commission (OLCC) are jumping into the tax...more

Rivkin Radler LLP

Thanksgiving and. . . Taxes?

Rivkin Radler LLP on

I am guessing that, later this week, many if not most of us will celebrate our uniquely American holiday, Thanksgiving Day. Hopefully, we will be fortunate enough to spend the day and share a meal with family and friends....more

Rivkin Radler LLP

Cannabis & the Mid-Terms: What Tax Policy?

Rivkin Radler LLP on

On October 6, 2022, the President announced three changes in the Federal government’s policy toward cannabis: 1.He pardoned all prior Federal offenses of simple possession of marijuana; 2.He urged governors to do the same...more

Vicente LLP

Massachusetts Enacts Significant Changes to Marijuana Laws: What You Need to Know

Vicente LLP on

For the first time since adult-use legalization in Massachusetts, the Massachusetts Legislature voted to pass marijuana reform legislation that will impact the cannabis industry across the Commonwealth in significant ways,...more

Vicente LLP

Rhode Island Legalizes Cannabis: Key Provisions of the 'Rhode Island Cannabis Act'

Vicente LLP on

After years of debate, Rhode Island's General Assembly voted to legalize adult-use cannabis on May 24, 2022. Governor Daniel McKee signed "The Rhode Island Cannabis Act" into law on May 25, making The Ocean State the 19th to...more

Goodwin

New Jersey Cannabis Regulatory Commission Approves Specially Adopted Personal Use Cannabis Rules

Goodwin on

On August 19, 2021, the New Jersey Cannabis Regulatory Commission (CRC) approved the Specially Adopted Personal Use Cannabis Rules (the “Rules”). The Rules will be effective until at least August 19, 2022. The Rules...more

WilmerHale

New York Legalizes Marijuana - Where Is the US Headed?

WilmerHale on

It’s been an eventful week for the marijuana industry. After years of false starts, New York legalized the use of recreational marijuana on March 31 - just hours later, New Mexico legislators passed a bill to do the same....more

Goodwin

A New Day: New York Legalizes Recreational Marijuana, New Mexico On The Verge

Goodwin on

On March 31, 2021, New York Governor Andrew Cuomo signed the New York State Cannabis/Marijuana Regulation & Taxation Act (the “Act”), S.854-A/A.1248-A, legalizing adult-use cannabis for individuals 21 and older and creating a...more

Womble Bond Dickinson

New York to Join in the Legalization of Adult-Use Cannabis

Womble Bond Dickinson on

After years of debate, New York is poised to join a growing number of states, including neighboring New Jersey, in legalizing adult-use cannabis.  Over the weekend, Governor Andrew Cuomo and legislative leaders announced an...more

Genova Burns LLC

Deal Hashed Out For Legal Cannabis in the Empire State

Genova Burns LLC on

New York appears to be on deck as the next state to join the list of cannabis-friendly environments in which these businesses might have a chance to thrive. The deal recently struck between Gov. Andrew M. Cuomo and lawmakers...more

Foley Hoag LLP - Cannabis and the Law

New York Races to Finish Line on Legalized Cannabis

On the heels of recent legalization and/or implementation efforts in states like Virginia, New Jersey, and Arizona, New York is now positioned to become the 17th state in the country to legalize adult use cannabis. ...more

Fox Rothschild LLP

First Look: Virginia Passes Recreational Cannabis Legislation

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The Virginia Legislature, on February 27, 2021, passed House Bill 2312, containing development, regulation and enforcement provisions governing the personal use of products containing cannabis by individuals 21 and older. The...more

Rivkin Radler LLP

New York State Appears Poised To Legalize Recreational Marijuana

Rivkin Radler LLP on

On January 6, 2021, Governor Cuomo announced his latest proposal for the legalization of recreational marijuana in New York. The proposal, outlined generally, consists of: 1.The legalization of the recreational use of...more

Farrell Fritz, P.C.

New York: Deficits, Taxes And 2021

Farrell Fritz, P.C. on

Only 347 Days to Go- What a year it has already been, and we are just beginning the third full week of 2021. The Democrats swept Georgia, thereby giving that Party a majority in the U.S. Senate and ostensible control over...more

Seyfarth Shaw LLP

Social Equity Programs in Cannabis – Worth their Weight?

Seyfarth Shaw LLP on

As the legal cannabis industry has expanded across the US over the past decade, green is the most prominent color seen in this space. In addition to the color of the flower, sales are projected to reach up to $30.4 billion in...more

Foley Hoag LLP - Cannabis and the Law

Rhode Island Governor Proposes Recreational Cannabis with State-Owned Dispensaries

Rhode Island Governor Gina Raimondo’s fiscal year 2021 budget includes over $20 million in revenue that the Governor expects to be generated by legalizing cannabis for recreational use. While the Governor’s support for...more

Burns & Levinson LLP

New York Legislature Optimistic to Legalize Recreational Cannabis in 2020

Burns & Levinson LLP on

New York is gearing up to become the 12th US state to legalize recreational cannabis, and the 2nd US state to do so by way of legislative measure (as opposed to voter initiative), as Gov. Andrew Cuomo vowed to legalize...more

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