Rep. Earl Blumenauer (D-OR) introduced the Small Business Tax Equity Act (H.R. 2643) on April 17, 2023, a bill that will allow cannabis businesses to obtain tax write-offs for ordinary business expenses.

Currently, cannabis businesses are not able to deduct business expenses under a provision of the tax code known as Section 280E

Cannabis: In Focus

  • Attorney General Garland Testifies Before Senate Judiciary Committee
  • Ninth Circuit Affirms Ruling that California County May Deny Licenses to Cultivate Cannabis
  • Oklahoma Recreational Cannabis Measure Fails
  • Medical Cannabis Patient Sues Arkansas Company for Inflating THC Levels

Continue Reading Cannabis Legal Report—Week of March 20, 2023

The U.S. Food and Drug Administration (FDA) recently released new guidance on sourcing and product quality to companies conducting clinical research related to the development of human drugs involving cannabis or cannabis-derived compounds. The agency’s nonbinding recommendations highlight potential opportunities for clinical researchers and sponsors of investigational new drugs after the 2018 Farm Bill significantly altered the regulatory landscape applicable to cannabis products.Continue Reading FDA Releases Guidance on Clinical Research into Cannabis-Derived Drugs

Cannabis: In Focus

  • New York City Attempts to Crack Down on Illicit Cannabis Market
  • Connecticut Launches Recreational Cannabis Sales, With More States Expected to Follow in 2023
  • Psilocybin State Updates
  • FDA Issues Three New Warning Letters to CBD Product Manufacturers Alleging COVID-19 Benefits
  • Congressional Research Service: Cannabis Banking and the Federal Reserve

Continue Reading Cannabis Legal Report—Week of January 23, 2023

Cannabis: In Focus

  • Election Round-up: Two States Approve, Three Reject Adult-Use Cannabis Referendums
  • Northern District of New York Rules on Dormant Commerce Clause and Adult-Use Retail Licenses in New York
  • Kansas Federal Court Dismisses Hemp Seizure Suit
  • Federal Court Dismisses Florida Lawsuit Seeking Gun Rights for Medical Cannabis Patients

Continue Reading Cannabis Legal Report – Week of November 14, 2022

Cannabis: In Focus

  • Federal Court Allows State To Import Cannabis-Related Paraphernalia
  • Biden Announces Pardons of Federal Convictions for Simple Cannabis Possession and a Plan To Review the Current Schedule Status for Cannabis
  • California Struggles To Tame Thriving Illicit Market

Continue Reading Cannabis Legal Report – Week of October 17, 2022