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Cannabis Regulation and Tax Act

In May 2019, the Illinois General Assembly passed the Cannabis Regulation and Tax Act (the “Act”). With the Act’s passage, Illinois became the first state legislature to pass a bill that legalized both the sale and possession of recreational marijuana. The Act passed the Senate on Wednesday, May 29th

On January 1, 2020, entities doing business in California will have to comply with the California Consumer Privacy Act (CCPA), a first-in-the-nation consumer privacy law that grants numerous privacy rights to California residents. The CCPA will require thousands of businesses, including cannabis businesses, to undertake significant compliance efforts or risk substantial penalties. For cannabis businesses, however, compliance efforts must be considered in light of other applicable privacy laws.

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Husch Blackwell is a lead sponsor of the Northern California Quarterly Cannabis Caucuses – next of which is to be held on Tuesday, July 10 in San Francisco, CA at the Hilton Financial District. The 3rd Quarter Cannabis Caucus will bring together executive level industry professionals, policymakers, regulators, and movement leaders to network, learn about

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.)

Young cannabis plants, marijuanaCheck 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.

Cannabis oil cartridgeMyself, Winn Halverhout and Fred Miles were interviewed by Advisory Board about the main challenges facing providers related to medical marijuana, how the new administration might change the legal landscape, and more.

Check out the article here.  Advisory Board is a best practices firm that uses a combination of research, technology, and consulting