Cannabis Law Report

DECEMBER 7, 2021

Congress is making another run at providing a safe harbor to the banking industry and companies that provide services to cannabis businesses. On September 21, 2021, the House voted to include the Secure and Fair Enforcement Banking Act of 2021 (SAFE Banking Act) 1 in the annual National Defense Authorization Act for Fiscal Year 2022 (NDAA).

Banking 52

Banking Compliance Compliance Business 52

NORML

APRIL 26, 2019

Legislation is pending, Senate Bill 225, to amend the state’s existing industrial hemp law to be in compliance with the new federal hemp regulations. Click here to email your lawmakers in support of banking access. Click here to email your lawmakers in support of medical cannabis access. AL resident? CA resident? LA resident?

Legislation 179

Legislation Compliance Compliance Hemp 179

SpeedWeed

FEBRUARY 24, 2021

While South Dakota is still stalled when it comes to making legal cannabis a reality within state borders, the state is already working on legislation that allows banks to decide whether or not to do business with the legal cannabis and hemp industry. . HB1203 just passed the House 64-4, and the next step is for it to clear the senate.

Banking 52

Banking Business Legislation History 52

Cannabis Law Report

MAY 28, 2022

Congress should either legalize cannabis or stop deputizing banks as drug enforcement investigators. Although 18 states have fully legalized, cannabis is still a sticky issue for banks and other financial institutions because it remains illegal at the federal level. The State of Banking. economy: the financial system.

Banking 52

Banking State Laws Law DEA 52

WeedAdvisor

SEPTEMBER 18, 2019

Things are looking good for state medical and recreational dispensaries as a game-changing bill gains support in the U.S. According to Forbes , one third of the Senate now supports the SAFE Banking Act, a bill that would provide dispensaries access to critical financial services. Skipping Ahead. .

Banking 45

Banking Dispensary Legislation State Laws 45

Cannabis Law Report

JUNE 22, 2019

Will hemp taint your banking relationship? . Many have setup legal entities and registered under their states’ regulatory programs as permitted growers but have hit a hurdle that most new businesses hop right over: opening a bank account. . If you wish to re-publish this story please do so with following accreditation.

Banking 45

Banking Hemp Business Agriculture 45

WeedAdvisor

AUGUST 16, 2019

Although Uruguay will always hold the title for being the first country in the world to legalize recreational marijuana, the Green Wave is hitting the continent in one large swoop. Recreational marijuana is decriminalized in small amounts and when used on private property. banks are skittish about dealing with the marijuana industry.

Marijuana 85

Marijuana Banking Decriminalization Recreational 85

Greenspoon Marder Cannabis Law Group Blog

SEPTEMBER 25, 2019

House of Representatives is expected to vote on the Secure and Fair Enforcement Banking Act of 2019 (the “SAFE Banking Act”) today. In light of these concerns, most banks have denied cannabis-related businesses access to bank accounts and other financial services.

Banking 40

Banking Hemp Safety Business 40

The Blunt Truth

FEBRUARY 18, 2020

In Chicago, where medical marijuana has been legal since 2014, and recreational marijuana has been legal for just over a month, people from many facets of the real estate industry — brokers, architects, contractors, real estate owners — came to learn about the new opportunities and pitfalls of the cannabis industry.

Supply Chain 108

Supply Chain Dispensary Banking Business 108

Cannabis Law Report

JULY 2, 2019

The world of marijuana banking has been rife with compliance risks for years. While marijuana is still illegal federally, many states have legalized marijuana for medical and recreational use. Bank Secrecy Act Compliance. Rockswold , Linda A. Albrecht and Allison Groskreutz. Eide Bailly LLP. Legal Hemp Growing.

Banking 40

Banking Hemp Marijuana Compliance 40

Cannabis Chronicles

JULY 1, 2019

Everything is harder — from opening a bank account to finding office space to hiring qualified employees — says Shane Schmitt, general manager of Wy’East Oregon Gardens, a cannabis cultivation and processing facility in Portland. But be warned, the cannabis industry is not for the faint of heart.

Business 100

Business Data Banking Cultivation 100

Cannabis Law Report

MARCH 13, 2019

The Cannabis and Hemp Advisory practice will provide counsel and support to existing businesses, start-ups, and ancillary service providers within the cannabis industry, especially in the areas of: tax planning; compliance with section 280E of the U.S. Will Banks get a Hit of the Cannabis Industry? CONTINUE READING. CONTINUE READING.

Hemp 71

Hemp Business Banking Concentrates 71

Cannabis Law Report

MARCH 8, 2022

With over 30 years of experience working with public companies and privately held businesses throughout the country, he has assisted his clients through the complex financial reporting and compliance issues associated with the filing of registration statements with the Securities and Exchange Commission (SEC) and raising capital.

Legislation 97

Legislation Compliance Compliance Hemp 97

Cannabis Law Report

MARCH 6, 2019

And in the November election, Michigan became the first Midwestern state to permit recreational pot use. ” Cobb has been recognized for his efforts to gain support for the Secure and Fair Enforcement Banking Act, which will allow pot businesses to bank freely, like any other legitimate business.

Banking 78

Banking Policy Legislation Compliance 78

Cannabis Law Report

SEPTEMBER 24, 2019

As early as September 23, 2019, the United States House of Representatives is expected to vote on the widely anticipated Secure and Fair Enforcement (SAFE) Banking Act. This federal distinction, however, has not prevented more than 40 states from legalizing marijuana for medical and/or recreational adult use.

Banking 40

Banking Law Compliance Compliance 40

Cannabis Law Report

JULY 15, 2021

It should be included in any assessment of 280E that a repeal (and normal access to banking) is likely to increase taxpayer compliance by existing companies. A report from the Treasury Inspector General for Tax Administration found significant compliance issues and underreporting of income under the current system.

Compliance 81

Compliance Compliance THC Retail 81

Canna Law Blog

NOVEMBER 12, 2019

Lack of access to banking. If you’re motivated and capitalized enough to secure local approval and a state license, and you can bear the significant tax burdens, you still likely will have difficulty securing a bank account in California.

Banking 96

Banking Cannabis Vaping Business 96

Otherside Farms

MAY 5, 2020

Still, it is legally approved for recreational use in many states and Washington, D.C., Banks typically don’t provide loans to cannabis ventures especially, those directly involved with the plant or its derivatives. Business funding for cannabis companies before recreational marijuana legalization happens is a concern for banks.

Business 52

Business Banking Seed-To-Sale Compliance 52

Cannabis Law Report

FEBRUARY 3, 2020

Russell, and three companies they controlled, for an alleged scheme that defrauded investors who thought they were purchasing interests in a Washington-licensed recreational cannabis company out of approximately $4.85 million into Russell’s personal bank accounts. Griffithe and Robert W.

Cannabis 86

Cannabis Business Recreational Banking 86

Canna Law Blog

OCTOBER 30, 2019

Earlier this month, on October 3, the California Department of Business Oversight (the “DBO”) issued a Cannabis Banking Guidance memorandum to its state-chartered financial institutions (banks and credit unions) to help them make appropriate risk assessments in serving cannabis-related businesses and comply with federal guidelines.

Business 54

Business Banking Programs Compliance 54

Cannabis Law Report

MARCH 15, 2019

In addition to the gaps between state and federal law, an obstacle course of regulatory hoops to jump through, banking barriers, branding, and countless other headaches. Thankfully, that’s where the women from Manzuri Law come in.

Law 14

Law Advocacy Banking Compliance 14

Cannabis Law Report

AUGUST 10, 2022

Thirty-eight states have either decriminalized cannabis or enacted laws authorizing its use for medical or recreational adult use. [1] Some advocates are still pushing to pass the SAFE Banking Act, allowing banks insured by the FDIC to serve cannabis businesses without fear of violating federal law.

Legalization 52

Legalization Banking Legislation Compliance 52

Cannabis Chronicles

APRIL 2, 2019

Since Colorado and Washington became the first states to legalize the recreational use of marijuana, eight others have joined them. “These rules have made the entire industry very inefficient. We’re going to get left in the dust unless we change some things pretty quickly.”. Rebecca Saldaña.

Legalization 100

Legalization Business Legislation Banking 100

Otherside Farms

SEPTEMBER 17, 2019

Not only that, but recreational marijuana is also legal to use in 10 states. It’s Impossible to Bank in the Weed Industry. Curious about why it’s impossible to bank in the weed industry? The answer is simple: Many credit card companies and banks are afraid to give accounts to people in the marijuana business.

Law 64

Law Marijuana Banking Decriminalization 64

Cannabis Law Report

AUGUST 4, 2022

The first question to ask a potential landlord is whether there is an institutional lender, like a Bank of America or U.S. Bank, with a mortgage on the property. Compliance with Applicable Laws. Boilerplate commercial leases will contain a section requiring the tenant to comply with ALL laws. No Cole Memorandum.

Compliance 52

Compliance Compliance Banking Business 52

Cannabis Law Report

SEPTEMBER 1, 2021

This prohibition stands in contrast to the 18 states that have “legalized” recreational cannabis use and the 37 states that have enacted laws regulating cannabis use for medical reasons. The lawful cannabis industry faces numerous regulatory hurdles that makes even good-faith compliance with the law a challenge. Introduction.

Policy 100

Policy Cannabis Law Treatment 100

Connor & Connor PLLC

NOVEMBER 27, 2019

However, despite the federal prohibition roadblock, 33 states have legalized medical marijuana and 11 have voted to legalize marijuana for recreational use as well. One of the first states to legalize recreational marijuana was Colorado, followed by Washington and Oregon. 1] [link] ; [link]. [2] 1] [link] ; [link]. [2]

Dispensary 69

Dispensary Retail Recreational Business 69

Cannabis Law Report

MAY 26, 2019

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 York, Pennsylvania and Washington, as well as the District of Columbia, regulating its use.

Law 55

Law Marijuana Compliance Compliance 55

SpeedWeed

MARCH 9, 2021

and becoming legal, regulated, and accepted in more states, one thing the cannabis industry struggles with is having access to services that most businesses have access to, including banking and insurance. While the legal cannabis industry is slowly spreading across the U.S. The insurance broker M.J. View original article.

Business 52

Business Banking Programs Access 52

Cannabis Law Report

MARCH 19, 2020

The legality of cannabis for medicinal or recreational use varies from country to country, regarding possession, distribution, cultivation, use and finally consumption. It is imperative that cannabis businesses adhere to stringent legal compliance and steer clear of any likely illegalities with respect to the cannabis business.

Legalization 59

Legalization Banking Research and Development Nerve Pain 59

Cannabis Law Report

MARCH 20, 2020

MOBILE, DIGITAL BANKING . COMPLIANCE. HIPAA COMPLIANCE. While recreational legalization isn’t likely in 2020, full legalization could boost sales even higher. FINANCIAL SERVICES. ACCOUNTANT , CPA. TAX FRAMEWORKS. ADVERTISING OPPORTUNITIES. LEGAL SERVICES. INTELLECTUAL PROPERTY . TRADEMARK ,, PATENT PROTECTIONS.

Dispensary 64

Dispensary Compliance Compliance Cultivation 64

Cannabis Law Report

AUGUST 24, 2019

BANKING: The growth? The Republican-controlled US Senate hosted a hearing on cannabis banking on July 23, 2019. In Who’s Now Lobbying on the SAFE Banking Act? ” BANKING: The setbacks? . ” Returning to the issue of credit unions and cannabis banking.

Banking 49

Banking Marijuana Media Patients 49

Veriheal

NOVEMBER 12, 2020

First of all, customers purchasing cannabis, whether for recreational or medical use, pay taxes when they purchase legally. And because cannabis businesses can’t take advantage of banking protection s or other forms of federal assistance, they run the risk of being even more hard-hit by the recession.

Business 64

Business Banking Cannabis Compliance 64

Cannabis Law Report

APRIL 5, 2019

More than a year after legalization of recreational cannabis in California, the maturing California cannabis industry has seen an exponential increase in capital raising and M&A activity. Investors from Canada, where recreational marijuana is legal, are particularly interested in the California market. Authored By: Karen Balderama.

Compliance 51

Compliance Compliance Business Cannabis 51

MMJ Recs

MAY 5, 2024

However, recreational use has also recently been legalized in California but it remains illegal under federal law. Together, these laws provide a comprehensive regulatory framework that governs the cultivation, distribution, and use of both medical and recreational cannabis.

Law 52

Law Marijuana Cultivation Patients 52

Cannabis Law Report

JUNE 23, 2021

Acquisition solidifies Canopy Growth’s leadership position in the Canadian recreational market. Additionally, the acquisition of Supreme further strengthens Canopy’s overall leadership position within the Canadian recreational market and creates a pro forma Q4 FY 2021 market share of 18.1%

Recreational 90

Recreational Events Collective Cultivation 90

Cannabis Law Report

DECEMBER 12, 2019

Recreational use is becoming legal in a growing number of states. . Eleven states have legalized the recreational adult-use of marijuana. Compliance with state laws is of little benefit when it comes to federal bankruptcy, banking, and tax codes. Bankruptcy and the CSA. The Federal Controlled Substances Act 21 U.S.C. §§801-904

Compliance 45

Compliance Compliance Chronic Pain Banking 45