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Changes regarding cannabis law in Minnesota are underway as HF3595 passed as part of an amendment to HF4065 in both the House and Senate and the bill was signed by Governor Tim Walz (D) on June 2, 2022. HF3595 sets out to implement a series of regulations for products containing…
Continue Reading Minnesota CBD – 5mg THC per serving; 50mg THC per packageToday the North Carolina Senate gave its final approval of Senate Bill 711 to legalize…
Continue Reading NC Senate Passes Medical Marijuana BillBackground
With recent litigation indicating potential further delays for the distribution of additional adult-use dispensary…
Continue Reading Update on Status of Illinois Dispensary LicensesProposed Regulations Released in Illinois for Recently Announced 2022 Adult-Use Dispensary License Lottery
On March 15, 2022, Illinois Governor J.B. Pritzker announced another planned lottery process to occur…
Continue Reading Proposed Regulations Released in Illinois for Recently Announced 2022 Adult-Use Dispensary License LotteryThe Latest
FinCEN Confirms Marijuana Banking Guidance Remains in Place Despite DOJ Policy Reversal
Reuters is reporting today that the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) was caught off guard by Attorney General Jeff Sessions’ announcement last week that the Justice Department was…
Continue Reading FinCEN Confirms Marijuana Banking Guidance Remains in Place Despite DOJ Policy ReversalThe Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has released updated statistics showing a steady increase in the number of depository institutions that actively bank U.S. marijuana businesses. As of…
Continue Reading Federal Data Shows More Banks Are Serving Marijuana BusinessesVenture capital is playing a growing role in the country’s emerging legal cannabis industry. Attorneys Emily J. Yukich and Matthew R. Kittay of Fox Rothschild’s Emerging Companies & Venture Capital…
Continue Reading ABA Panel Tackles Venture Investing in Cannabis CompaniesThe Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) recently issued a Marijuana Banking Update, with data through March 31, 2017. The number of banking institutions…
Continue Reading Marijuana Banking Update Issued by FinCENDon’t Ignore These Crucial Tax Issues When Setting Up Your Marijuana Business
Tax and accounting issues you should not ignore when setting up your marijuana business:
The Trouble with Cash Based Businesses
Internal Controls – any cash based business is closely scrutinized…
Continue Reading Don’t Ignore These Crucial Tax Issues When Setting Up Your Marijuana Business