On September 18th, 2022, California passed S.B. 1326, which provided some major implications for the future of interstate cannabis agreements. Additionally, the California Department of Cannabis Control has pushed the Attorney General to allow the interstate transfer of cannabis and cannabis products. This article will explain the law and important future policy changes to look out for.
President Biden's announcement in October 2022 on steps to make changes to the federal treatment of marijuana came as a sort of surprise for most Americans. Many people wonder what this announcement means, how big of an impact it has, and what other things are being done to change the cannabis and legal landscape in this area. This article will address some of those topics, dive into federal cannabis legislation, and discuss how these can affect the legal cannabis industry. Many Americans are unaware that there has been extensive movement on both the Democratic and Republican sides for cannabis-related legislation in recent years.
In March 2022, the Senate passed the CMRE Act, the Cannabidiol and Marijuana Research Expansion Act) while also scheduling the MORE Act, the Marijuana Opportunity and Expungement Act. These acts are crucial pieces of legislation for the cannabis industry. This article explores these acts and how they will impact cannabis businesses and individuals. If you have any questions regarding these acts, contact our experienced cannabis lawyers today.
As the cannabis industry continues to grow in the United States and globally, those in the industry must have strong contracts prepared. Whether a cultivator, manufacturer, or dispensary owner, cannabis businesses must operate with adequate legal protection. Though some states are legalizing the production of cannabis, this is not yet true at the federal level. Because the cannabis industry is not federally legal, some judges may disregard your contract to operate a cannabis business. However, a contract is better than not having anything and can offer some protection depending on the jurisdiction.
This article dives into the history of the legislation that has been passed to allow businesses to operate, which licenses you need, and how to go about obtaining each license.
Before we get into the nitty gritty details of the Wrigley case, let’s do a quick refresher on what a trademark is and why they are economically important. A trademark is a phrase, symbol, insignia, word, or specific attribute of a product that differentiates itself from others available in the market. A trademark signals to prospective consumers that a certain company owns a specific product. For instance, a logo of a white apple or a red M makes an immediate impression on the consumer that the companies Apple or McDonalds own the product or service being offered. Trademark owners will usually register their trademark to prevent bad actors from unfairly using their trademark and appropriating associating goodwill it signals to consumers to drive up sales.
A crucial component of owning and operating a cannabis business is understanding the state and federal regulatory guidelines that you must follow. In particular, people in the cannabis industry must be aware of Section 280E of the Internal Revenue Code in order to maintain compliance and maximize the after-tax profitability of their business. Our team of knowledgeable cannabis attorneys can help you understand how this Section affects you and how to stay compliant. Contact us today so that we can answer any questions you might have.
Determining which corporate structure is best for your cannabis business is completely dependent on your specific circumstances. There is not one corporate structure for a cannabis business that works better than others. The perfect entity choice for one company could be terrible for another operation. Therefore, the best corporate structure will depend on each business owner's specific needs, financial position, and business goals. This article dives into the types of entity types available, the pros and cons of each type, and the tax implications. If you have any questions about which corporate structure is right for you, our experienced cannabis lawyers can help you understand the legal ramifications of choosing an entity. Contact us today to understand your options.
On November 6, 2012, Colorado voters passed Amendment 64, legalizing the use and regulation of recreational marijuana. Two years later, Colorado started issuing licenses, and since then, the marijuana business in Colorado has boomed. Sales have increased every year since the market opened in 2014, and they show no signs of stopping. Even the economic slowdown the COVID-19 pandemic caused could not slow the industry down. In fact, marijuana sales in 2020 increased 25% to $2.19 billion when compared to 2019. If you’re looking to get involved in this lucrative industry, contact us now to learn more!
The Colorado state legislature passed a whole array of laws in 2020 that became effective on January 1, 2021. This article explains each of these laws and how they will affect the cannabis industry going forward.