Has the Supreme Court’s opinion overturning the Chevron doctrine altered the landscape for the denial of tax deductions for marijuana businesses under Section 280E of the Internal Revenue Code? We explore that question in this podcast. Douglas Charnas: Welcome to our podcast on the ...
Five Things Celebrity Athletes and Musicians Should Consider When Entering into Cannabis Branding Agreements
What do Megan Rapinoe, Kevin Durant, Shawn Kemp, Calvin Johnson, Willie Nelson, Wiz Kalifa, Margo Price, and Sublime all have in common? They all have created their own boutique cannabis brands. As cannabis has become more popular, celebrity athletes and musicians have taken notice and jumped into ...
The End of Zero-Tolerance Drug Policies
Zero-tolerance drug policies in the workplace are an endangered species. Traditional drug laws and policies as they relate to the workplace are being upended, and employers are increasingly struggling to grapple with the patchwork of state drug-testing laws – that oftentimes conflict with federal ...
What Would Cannabis Rescheduling Mean for Lending and Payments Legality?
The U.S. Drug Enforcement Agency’s proposal to reschedule cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act (CSA) has generated considerable buzz across business sectors, including for the banks and credit unions that see opportunity and challenges in transacting ...
Impacts of Cannabis Rescheduling on Bankruptcy
This article was co-authored with Joel E. Cohen, Stout. Despite the excitement of many over rescheduling cannabis from Schedule I to Schedule III, the move does not make cannabis “legal” unless it is produced, sold, and used within the tightly regulated parameters of the Controlled Substances Act ...
Podcast: Securing Retail Space for Your Cannabis Business (Episode 2 of 2)
This is the second episode in More with McGlinchey's two-part series on the ins and outs of retail space in the cannabis industry; click here to listen to part one. Obtaining retail space for any small business is a big move. There are many issues to consider, and working with a ...
Marijuana Reclassification Impacts Bank Servicing of Businesses
The Department of Justice’s move to reclassify marijuana as a less dangerous drug, on which it began formal proceedings on May 16, won’t legalize state-level adult-use and medical marijuana unless it’s produced, sold, and used within the regulations of the Controlled Substances Act. ...
Ohio’s Dual-Use Marijuana License Applications Available June 7
In accordance with Ohio’s new adult-use marijuana legislation, applications for initial dual-use marijuana licenses will be made available by the Division of Cannabis Control (DCC) on its website no later than this Friday, June 7 – a historic day in the state. The applications that will be made ...
Paid or Incurred: Marijuana Rescheduling, Taxes, and Section 280E
The cannabis industry knows well the economic burden imposed by Section 280E of the Internal Revenue Code of 1986 (Code). It substantially increases the cost of doing business because it disallows deductions for expenses related to “trafficking” in marijuana – expenses that other traditional ...
Rescheduling Marijuana FAQs: Cannabis-Related Investments
On May 21, 2024, the Drug Enforcement Agency (DEA) filed the Proposed Rule to move marijuana from Schedule I of the Controlled Substances Act (CSA) to Schedule III of the CSA. In light of the rescheduling marijuana news, industry insiders anticipate a significant increase in cannabis-related ...