The Taxes And The Profits (?) From Marijuana Retail

We are going to find out over the next couple of years whether businesses that completely follow state and federal tax rules to a T can survive and function as real businesses. We have blogged before about I.R.C. 280E, and how challenging it makes operating a marijuana business. We can talk your ear off about how difficult the taxes are to comply with in theory, but let's dive into the numbers to actually see how burdensome the current state and federal tax systems can be.

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The Seven Deadly Marijuana States

With marijuana legalization (rightly) sweeping the nation, it has become too easy to think that nationwide legalization is both inevitable and imminent. But it’s not. There are still plenty of states (Alabama, Maryland, Texas, New Hampshire, Connecticut, Indiana, and Missouri come first to mind) sticking to the same Just Say No attitude that has failed the Federal

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LCB to Issue First Marijuana Licenses Today

This morning, the Washington State Liquor Control Board will be issuing its first licenses for marijuana production and processing under its new recreational marijuana regime. One of those license applicants is from Spokane, which is ironic given the city’s previously unfriendly attitude towards marijuana. And, as KXLY out of Spokane reports, LCB Member Chris Marr has confirmed that ten applicants

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Marijuana Tourism 101

For most US States there is no such thing as marijuana tourism because so few states permit non-residents to legally buy. But in Colorado, marijuana tourism is a real business and it's generating real dollars despite the State's lack of Amsterdam-style coffee shops (which are prohibited in both Colorado and Washington under the new recreational cannabis laws, as is public consumption in any shape or form).

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Cannabis Business Banking. When, When, When?

After months of speculation, the Department of Justice and the Financial Crimes Enforcement Network (FinCEN) two weeks ago released new guidelines to banks and financial institutions on their relationship with state-legal cannabis businesses. As we discussed in our post, Feds Green Light Marijuana Banking, these new guidelines seem to give banks the green [pun intended] light to conduct banking business with marijuana business customers, subject to fairly stringent requirements that the bank monitor and report on those activities.

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Buying A Cannabis Business? Be Careful

Our cannabis lawyers have been receiving phone calls lately from companies asking us about Craiglist ads offering "Retail Marijuana Licenses," "Applications for Licensure" and "I-502 Businesses" for sale. Our response has been to run (not walk) away from any such deals, at least for now. This is our advice for many reasons.

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LCB Producer License Roll-Back May Encourage Black Market Growers

The restriction of Production licenses to one-per-entity will prevent growers from leveraging economies of scale in production and business management, putting further downward pressure on Producers' profitability. At some point, the balance of Costs and Benefits associated with "going legit" will, unfortunately, tip back toward continued illegal operation.

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DUI: Defining & Understanding “Influence”

What's needed is a genuine reform effort--open-minded, data-centric, and grounded in current science--that drives toward (1) a better understanding of the public safety risks posed by THC-impacted driving (without pre-judgment of "impaired" or otherwise) and (2) a well-designed test that accurately reflects risk-elevating impairment, rather than assertions of physiological "fact" that may have no causal connection to risk factors.

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Illinois Medical Cannabis Licensing: Answers To Your Burning Questions

Over the past six months we have fielded dozens of calls (and emails) from people looking to get into Illinois’ MMJ scene, ranging from the mildly curious to the serious, well-heeled entrepreneur complete with an incorporated entity and investors in hand. But no matter who is on the other end of the line, certain questions

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