canna law blog

Tribes And Cannabis: This Will Be Big

Just last week — on the heels of the Cromnibus defunding enforcement of federal marijuana laws in states with medical marijuana programs — the federal government announced that Native American Tribes are free to legalize, cultivate, manufacture, and distribute cannabis on tribal lands without federal intervention. Though many tribes have no interest in getting into the cannabis business, the Mohegan, Suquamish, and Seneca

canna law blog

Medical Marijuana in the Omnibus Bill

Medical marijuana advocates have been jubilant for the last few days because of Congress’s move to disallow the Department of Justice from enforcing federal law in medical marijuana states. How did this happen and what does it really mean? Congress passes annual appropriations (spending) bills to fund the federal government, including the activities of all agencies

canna law blog

A Federal Marijuana Tax: Why It Might Just Be A Good Thing

This month, the Congressional Research Service (a research arm of Congress) released a comprehensive report, entitled Federal Proposals to Tax Marijuana: An Economic Analysis on the possibility of the federal government establishing a wholesale excise tax on cannabis products. The economic analysis noted that studies in the UK and Canada suggest that the societal costs of individual

canna law blog

State Marijuana Law Effects On Federal Tax Liability

We are nearing the end of the year, when most marijuana businesses are also ending their fiscal years. That will be the start of an arduous process: dealing with the federal tax situation. The ramifications of Section 280E of the tax code have been analyzed to death on this blog and in many other publications.

canna law blog

Politics and Pot: Will D.C. Marijuana Initiative 71 Stand?

The Republican Party won enough races in this month’s elections to take control of both the U.S. Senate and strengthen their majority in the House of Representatives. Other victors were supporters of legalized marijuana. By a margin of over 2 to 1 (96,899 yes votes to 42,495 no votes), Washington, D.C. residents approved Ballot Initiative

canna law blog

In the Wake of Marijuana Legalization, It’s Time to Repeal Section 280E

As lawyers, we were trained to spot injustice. Section 280E of the Internal Revenue Code is an injustice. For that reason, we have and will continue to write about why Section 280E should be repealed. New York lawyer/writer Anne Wallace recently wrote an article, Time to Repeal Section 280E, effectively arguing for repealing Section 280E. The article notes

canna law blog

Cannabis Banking: Is Bitcoin the Answer?

Banking in the cannabis industry is developing very slowly. A few banks and credit unions are doing business in each of the states where marijuana business is legal, but we are not seeing an explosion of services. A number of our clients have asked whether using Bitcoin makes sense. Using Bitcoin to replace having a

canna law blog

Five Leading Ladies of Legalization

Women favor marijuana legalization at rates not all that different than men. It is a bit ridiculous that I even need to say this, but there is a persistent myth out there that says women oppose marijuana legalization in much greater numbers than men. But not only do women favor legalization in substantial numbers, they have helped to

canna law blog

Pending Federal Case May Undo Federal Marijuana Prohibition Laws

We usually do not get excited over cases where a Federal judge is asked to deviate from Federal laws regarding marijuana — because they never do. This time, though, we are all ears, as according to The Daily Beast, this Federal judge is really listening: After a five-day hearing in California, [U.S. District Judge Kimberly

canna law blog

Marijuana Merchant Processing

In February, FinCEN (the financial crimes division of the U.S. Department of Justice) issued its guidelines for financial institutions wanting to do business with the marijuana industry. Though helpful to those interested, this memo did not change federal banking laws that make banking for the marijuana industry so risky. Recently, ATMs were shut down and will be