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Marijuana 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

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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

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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

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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

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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

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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

Fox Rothschild LLP

Minnesota to Legalize Recreational Cannabis: What You Need To Know

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Minnesota is set to become the nation’s 23rd state to legalize recreational cannabis. The Minnesota State Senate approved on May 19, 2023, the final version of HF100 — a bill regulating adult-use cannabis for people 21...more

McGlinchey Stafford

Marijuana & Banking: What’s the Hold Up? Pt. 1 – Conflicting Legal Landscapes

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Today, nearly four-fifths of the United States have regulated medical marijuana markets. Nearly half of the United States, consisting of twenty-one states along with Washington, D.C. and Guam, have acted to legalize...more

Rivkin Radler LLP

Thanksgiving and. . . Taxes?

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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

Amundsen Davis LLC

Could a Small Town in Pennsylvania Force Congress to Deschedule Cannabis?

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Last Thursday, November 10, 2022, a court-appointed receiver threw the City of Chester, Pennsylvania into bankruptcy. At its most basic, a chapter 9 bankruptcy case is a rarely used provision of the Bankruptcy Code which is...more

Rivkin Radler LLP

Cannabis & the Mid-Terms: What Tax Policy?

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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

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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

Seyfarth Shaw LLP

Federal vs. State Approaches to Cannabis: Recent DEA Data Shows Increase In Enforcement While States Move Toward Decriminalization...

Seyfarth Shaw LLP on

One might think that the recent uptick in the legalization of recreational marijuana usage would correlate with a decline in the arrests and seizures related to the leafy-green. According to recent data from the Drug...more

Bradley Arant Boult Cummings LLP

Tennessee Lawmakers to Consider Multiple Cannabis Proposals

Only days ago, we discussed the prospects for cannabis reform in Tennessee. And lawmakers are already pushing such reform in the early days of this legislative session. On the hemp front, Rep. Chris Hurt filed House Bill...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

Fox Rothschild LLP

On The Issue Of Legalized Marijuana, Amazon Asks For MORE

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In a recent blog post, Amazon CEO Dave Clark expressed his public support for the federal Marijuana Opportunity Reinvestment and Expungement Act of 2021 (MORE Act). The company also announced that it will stop screening or...more

Husch Blackwell LLP

New York State Of Mind- An Overview Of The Unique Aspects Of New York’s New Marijuana Regulatory Framework.

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The Marijuana Regulation & Taxation Act (the “Act”) was signed into law by Governor Andrew Cuomo on March 31, 2021. Not only does the Act create the foundation for the adult-use marijuana program, it contains sweeping changes...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New York Legalizes Recreational Marijuana: Altered States for Employers

On March 31, 2021, New York Governor Andrew Cuomo signed into law the Marihuana Regulation and Taxation Act (MRTA), which legalizes the adult recreational use of marijuana and revises Section 201-d of the New York Labor Law....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

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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

Rivkin Radler LLP

NY Is Set To Legalize Recreational Marijuana

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After years of fits and starts, New York has passed legislation to legalize recreational marijuana under the Marihuana Regulation and Taxation Act (S854-A) which Governor Cuomo intends to sign. The legalization aspect of the...more

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