“Sen. Cory Gardner of Colorado wants to attach an amendment to the GOP-led tax reform bill that would allow state-legal marijuana growers, processors and sellers to deduct normal businesses expenses from their taxes.” Section 280E of the tax code, forbids businesses from deducting otherwise ordinary business expenses (advertising expenses, insurance, employee wages, etc.)
10 top questions about OSHA’s Dec. 15 injury reporting deadline
Check out my colleague’s blog post on OSHA’s injury reporting deadline at Safety Law Matters.
Fourth Corner Credit Union gets another crack in court to receive its master account
On June 27, 2017, a three-judge panel for the 10th U.S. Circuit Court of Appeals vacated a district court ruling that nixed Denver-based Fourth Corner Credit Union’s bid to receive a master account with the Federal Reserve Bank of Kansas City. Fourth Corner has been waiting since the end of 2015 for such ruling. The
DOJ reminds the marijuana industry it has no access to federal bankruptcy protection.
Last week, the DOJ sent a letter to trustees who handle consumer bankruptcy reminding them that marijuana is a federally illegal drug and warned them not to handle any money from the sale of marijuana-related property. The letter goes on to state “Our goal is to ensure that trustees are not placed in the
Governor John Hickenlooper of Colorado doesn’t expect federal crackdown on marijuana
Check out the Meet the Press interview with Governor Hickenlooper’s thoughts on the Trump administration’s stance on marijuana after his meeting with Attorney General Jeff Sessions. His insight should be reassuring to the marijuana industry, but he explicitly stated that state-legal marijuana businesses that are not following the letter of state law should be prosecuted.
Colorado marijuana sales in 2017 are poised to shatter the $1.3 Billion sold in 2016
This is on the heels of a record setting $1.3 Billion in sales last year and threats over a federal crackdown on adult-use marijuana.
What does this mean?
If the trends hold, 2017 will be the third-year in a row for Colorado seeing dramatic growth. While there are numerous factors driving the increase, the linked
Husch Blackwell to present on marijuana issues at AHIA
Today, on 4/20, I was invited by the Academy of Hospitality Industry Attorneys (AHIA) to present on Colorado marijuana issues at the Spring 2017 meeting in Colorado Springs, CO. This presentation will take a look at the current marijuana market in Colorado as well as discuss national marijuana trends. For more details, please read here.
“Path to Marijuana Reform” – new proposed federal legislation
Senator Ron Wyden and Congressman Earl Blumenauer introduced “The Path to Marijuana Reform” this week. As provided for in the executive summary linked in the previous sentence:
The Path to Marijuana Reform includes three bills that pave the way for responsible federal regulation of the legal marijuana industry, including:
- Small Business Tax Equity
Trump Administration Calls Out Recreational Marijuana
Yesterday, Sean Spicer attempted to call out a difference between medical and recreational marijuana at the federal level. He clearly does not understand that ALL marijuana is federally illegal. Further, he made a poor and factually incorrect analogy by comparing the current opioid abuse crisis to marijuana use. Spicer ended his comments on recreational
Marijuana industry estimated to be $24 billion by 2025
While these numbers are a best guess, exciting to see the projected growth for the marijuana industry over the next few years. Check out the Cannabist article:
http://www.thecannabist.co/2017/02/22/report-united-states-marijuana-sales-projections-2025/74059/