Greenspoon Marder Cannabis Law Group Blog

AUGUST 26, 2019

Last week, the National Credit Union Administration (NCUA) issued interim guidance stating that federally insured credit unions may provide certain financial services to legally operating hemp businesses. The need for cannabis businesses to have access to banking services continues to gain federal support.

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NORML

MARCH 22, 2019

House Financial Services Committee has scheduled to convene a markup on The Safe Banking Act, HR 1595 on Tuesday, March 26th. Activists in Oregon have filed a 2020 ballot initiative with the Secretary of State that, if approved, would allow social cannabis consumption sites and protect consumers from employment discrimination.

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Otherside Farms

FEBRUARY 25, 2019

A few decades ago, you couldn’t open a cannabis dispensary in any state without facing the wrath of the state laws. This is now a thing of the past in most states, thanks to the legalization of the sale and use of cannabis in these states. Your Dispensary Budget. Please read on. The Business Plan.

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The Blunt Truth

SEPTEMBER 3, 2020

It’s been a busy week for the Golden State. Assembly Bill 1525 allows cannabis banking under California state law. No sooner did the state’s Department of Health publish new rules, than Trulieve started making them available in their dispensaries. The legislature approved two marijuana measures.

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Cannabis Law Report

MARCH 5, 2020

State budget forecasters are banking on a robust kickoff, however, estimating $5 million in sales by the end of the month. Maine won’t issue active licenses until it has a testing lab ready, with all its licenses and certifications, to run the health, safety and potency tests required under state law, Gundersen said.

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NORML

MAY 24, 2019

Click here to email your lawmakers in support of banking access. This measure prohibits employers from arbitrarily discriminating against prospective employees who legally consume cannabis off-the-job in accordance with state law. Update : SB 51 was approved by the Senate on 5/21/19, and now heads to the Assembly. CA resident?

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Greenspoon Marder Cannabis Law Group Blog

JULY 26, 2019

On Tuesday July 23, 2019, the United States Senate Committee on Banking, Housing, and Urban Affairs hosted a hearing to discuss national safety implications relating to federal regulations that force cannabis businesses to operate on a cash basis. And that puts them and the Americans they do business with at risk. .

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NORML

MAY 17, 2019

Medical cannabis sales kicked off in Arkansas last Friday as the first dispensary opened its doors. Governor Jay Inslee (D) of Washington signed legislation into law to allow individuals with prior low-level cannabis convictions to apply to the sentencing court to have their record vacated. CA resident? ME resident? NV resident?

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Cannabis Law Report

JULY 27, 2021

Most recently, Marshall was CFO of Shryne Group – a multi-state operator in the cannabis industry with operations in California, Michigan, Washington and Nevada, with a combined 10 operating dispensaries and revenues in excess of $100 million. federal law, nor will it provide a defense to any federal proceeding in the U.S.

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Banking Retail Dispensary Compliance 76

Connor & Connor PLLC

MAY 11, 2018

In terms of insurance coverage, dispensaries are largely treated the same as any other business. Pursuant to state law, dispensaries are required to carry certain types of insurance. Unlike banking (which poses different challenges), there are no restrictions when it comes to marijuana businesses being insured.

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Cannabis Law Report

JULY 6, 2022

Dafna Revah, co-founder and co-owner of cannabis dispensary CBD Kratom, had a lot of explaining to do when her bank referred her to a record keeper willing to provide her company with a 401(k) plan. ” None, she repeatedly explained, had Delta-9 THC, the cannabinoid that is illegal under federal law. ” Ms.

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Cannabis Law Report

JUNE 1, 2022

POSTED IN ALABAMA , MEDICAL MARIJUANA , STATE LAW DEVELOPMENTS. Beginning September 1, 2022, a person may apply to the commission for a license for an integrated facility or for a license as a cultivator processor, secure transporter, state testing laboratory or dispensary ( Ala. Hobbs on June 1, 2022. Elizabeth R.

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The Cannigma

MARCH 12, 2021

A lot of the adult use, legalization has built upon the medical dispensary infrastructure, logistical infrastructure, the inspections and laboratory requirements in some states, and I imagine that also the political power of massive industries plays a role in pushing for further advancement. So, for example, payment systems.

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Cannabis Law Report

APRIL 14, 2022

Department of Justice agreed Wednesday to return all cash seized from an armored car company used by legal marijuana dispensaries during several traffic stops in California last year. As the van headed back to Colorado the next day after picking up cash from Missouri dispensaries, Robinson pulled over the van. Via The Kansas Reflector.

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Cannabis Law Report

APRIL 23, 2019

Prior to getting involved in Tax Law, Dionne was a litigator for several years, representing Lenders, Banks and Servicers in Foreclosure actions. Setting up routes and ensuring compliance with both the Department of Transportation and state medical or adult-use marijuana laws is difficult.

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The Blunt Truth

OCTOBER 22, 2019

citizen who is petitioning for your “green card” status (lawful permanent residency) while owning a duplex (where you live together on one floor and s/he sells legal cannabis as a dispensary operator on the other). practicing law in the U.S. 1200 , The SAFE Banking Act, awaits a vote. work here, or apply for a green card.

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Cannabis Law Report

APRIL 24, 2019

Let’s begin with the following: STATES Act Becomes Law. The STATES Act passes in Congress, the President signs it and it becomes law which means that in the states where cannabis is legal : Banking system becomes available to cannabis businesses. See The Murky Part of the STATES Act: Tribal Rights ].

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The Blunt Truth

FEBRUARY 7, 2019

Cannabis dispensaries are where it will start, but we expect to see cannabis roll out in a number of other franchised businesses as well, whether in retail (accessories, core products, ancillary products such as cosmetics and body rubs), or in restaurants , home health care , and pet care , for starters.

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Cannabis Law Report

DECEMBER 12, 2019

Compliance with state laws is of little benefit when it comes to federal bankruptcy, banking, and tax codes. The cannabis business-lessee was apparently in compliance with all applicable Washington State laws and regulations. As the cases make clear, it’s not only growers and dispensaries who need to be concerned.

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SpeedWeed

MARCH 10, 2021

Examples such as these underscore the importance of thoroughly researching the state law and local laws of a community before selecting one for your cannabis business. When people think of the cannabis industry, more often than not, their minds immediately jump to dispensaries. Retail dispensaries. Distribution.

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Connor & Connor PLLC

AUGUST 30, 2018

a California medical marijuana dispensary, and denied Canna’s deductions for operating expenses, including significant amounts for employee salaries and vehicle expenses. The company appealed the IRS’ findings to the United States Tax Court. The dispensary sold smokable marijuana as well as edibles. Commissioner , T.C.

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Cannabis Law Report

SEPTEMBER 16, 2022

Unlike Florida, Arkansas opted against vertical integration, instead authorizing separate dispensary licenses (up to 40) and cultivation facility licenses (up to eight). Arkansas dispensaries began serving qualified patients in 2019. Like Florida, Arkansas is a limited license regime.

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Cannabis Law Report

OCTOBER 27, 2019

P is a California corporation that operates a medical marijuana dispensary legally under California law. 280E applies to businesses operating legally under State law, notwithstanding its use of the word “trafficking. 3) does not apply to marijuana businesses legally operated under State law. .

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The Herb Collective

APRIL 29, 2019

A Cash-Only Industry The final California cannabis regulations still haven’t fixed the banking problem. Unfortunately, cannabis consumers in the state are still only able to pay for their purchases in cash or use an ATM-at-the-register payment system with high fees.

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Nature's Way Medicine

MARCH 5, 2021

The IRS commissioner Charles Rettig told the House Appropriations Financial Services and General Government Subcommittee that he would prefer if state-legal marijuana businesses would pay taxes electronically. Right now the businesses are unable to use banks and are paying cash to the federal government.

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Cannabis Law Report

DECEMBER 16, 2021

The CDC promoted a policy that prohibits employees from using marijuana while on the job but recognized that a zero-tolerance policy for marijuana use may not be possible, depending on the relevant state law. A town has the option to later opt back in; however, the state will be issuing a limited number of dispensary licenses.

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The NM Political Report | Medical Cannabis Program

JUNE 14, 2022

Every time one of these 75,000 medical cannabis patients walks into one of our dispensaries, reaches into their pocket, and buys that gram of [cannabis] flower, they have avoided a prescription cost for that health insurer,” Rodriguez said.

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Cannabis Law Report

OCTOBER 22, 2019

citizen who is petitioning for your “green card” status (lawful permanent residency) while owning a duplex (where you live together on one floor and s/he sells legal cannabis as a dispensary operator on the other). practicing law in the U.S. 1200 , The SAFE Banking Act, awaits a vote. 1621 et seq., Note: 7 U.S.C.

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Cannabis Law Report

JUNE 15, 2022

In addition, the licensees must execute a management agreement with a third-party operator to manage and operate the remaining facilities that the department will continue to permit in compliance with state law. The RSF assessment tool is designed to help OCC and a bank determine customer type for large risk analysis.

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Cannabis Law Report

JULY 27, 2019

Denver-based ONE Cannabis and Florida-based Miracle Leaf each claim to be awarding franchises to catapult their growth, the former franchising cannabis dispensaries and the latter medical marijuana clinics. Cannabis, the fastest growing industry in the U.S. Overarching Risks. The Significance of Franchise Status.

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Cannabis Law Report

JANUARY 10, 2020

More and more states across the South are adopting medical marijuana regimes. One such pain for marijuana businesses is the tension between following state laws on a product that is still illegal at the federal level. Know your local laws. With this growth comes growing pains.

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Cannabis Law Report

OCTOBER 12, 2021

Venom Extracts’ product suite is a category leader in Arizona with over 4 million grams of cannabis sold in 2020, accounting for up to 30% of category sales state-wide (per BDS Analytics). Venom Extracts has strong brand recognition and distribution, with products in the vast majority of dispensaries in Arizona.

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Canna Law Blog

NOVEMBER 16, 2023

We are helping build out another cannabis banking program here in Oregon. My law firm has done a series of these for credit unions (“CU”s) and other financial institutions (“FIs”) going back to 2014. We have also handled a good bit of hemp banking work – mostly in 2019 and 2020 before that industry cratered. That’s banking.

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SpeedWeed

MARCH 24, 2021

In the latest episode of the Cannacurio Podcast from Cannabiz Media, I speak with Tony Repanich, President and Chief Operating Officer of Shield Compliance , a comprehensive compliance management platform for banking cannabis-related businesses. I spent 25 years in community banking and I loved it. So what was that like for you?

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Canna Law Blog

MARCH 13, 2024

The legal requirements for each type are different, so it’s essential to research the laws around the company you want to start. Plant-Touching Businesses As the name implies, plant-touching cannabis businesses deal directly with the cannabis plant from seed to dispensary shelf.

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Canna Law Blog

NOVEMBER 17, 2021

In denying the motion, the Georgia Supreme Court deferred obsequiously to federal law and the illegality of cannabis. It held that passage of state laws permitting and regulating federal crimes do not alter the 1.2(d) b) in action involved a lawyer retained by two medical marijuana dispensaries in Colorado.

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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. Significant Outside Support. .

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