I.R.C. § 280E

A federal law that prohibits tax deductions or credits on a trade or business relating to the trafficking of substances on Schedule I or Schedule II of the Controlled Substances Act. Judicial decisions have allowed deductions only for the cost of goods sold, or deductions tied to a “separate trade or business.”

Isolation

A process for extracting or distilling a single, pure cannabinoid from cannabis plants. 

In Rem Jurisdiction

Jurisdiction a court has over property as opposed to a person or entity. Civil forfeiture actions are brought in rem against seized property. 

Initiative

A new law or constitutional amendment proposed and voted by the people. States may have “direct initiatives”, which qualify for ballot placement upon attainment of a certain number of signatures, or “indirect initiatives” which undergo legislative review after attainment of a certain number of signatures, but prior to ballot placement. Some states allow for both

Infused Products

Products containing cannabis concentrates, such as edible cannabis products or infused pre-rolls.

Industrial Hemp

Type of hemp grown for the purpose of harvesting stalks and seeds, not for harvesting flowering buds commonly used as source material for cannabinoid derivative products.