International Cannabis: Guidance for Companies Entering the U.S. Market, Part 1

As I mentioned in a prior post (see here), we have been fielding regular inquiries from international cannabis companies that want to engage with the U.S. market by selling raw hemp or cannabis, distillates (including cannabinoids), and products, including products that have been proven in their home markets. This post is addressed to companies considering

Washington Cannabis Business Sales: Avoiding Successor Tax Liability

In Washington’s closed cannabis marketplace, we see plenty of license purchases and sales, with deals structured in many creative ways, always to maximize the likelihood of regulatory approval from the Washington Liquor and Cannabis Board. Washington’s cannabis regulations are among the most stringent, consistent with Washington’s Department of Revenue’s application of Washington’s taxation statutes. Generally,

Global Cannabis

International Cannabis Continues to Look to the U.S. Market

Although COVID-19 is causing much of the world to slow down, business deals in many industries continue. Companies continue to seek strategic acquisitions, partnerships, and investments as they enter new international markets or seek to relocate a portion of their business or supply chain from higher-risk markets, such as China, to lower-risk markets in Southeast

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The Cannabis Company Structure Hall of Shame (with Pictures)

We have worked with, in and around cannabis companies for a decade here at Harris Bricken. In that time we have been privileged to advise and structure some truly impressive enterprises. Conversely, we have also seen all manner of malfeasance, nonsense, and fraudulent scheming. This post explores the latter. Specifically, it covers a personal grievance

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Will China Really Buy More U.S. Hemp? There is No Guarantee

  Two major President Trump-centric events have been unfolding these past few weeks, and each has alternatingly claimed the limelight and been overshadowed by the other. First, we have the ongoing Senate impeachment hearings, which began January 16, and second, phase one of the U.S.-China trade deal, which was signed and made public on January

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Federal Agencies Provide New Guidance for Hemp Banking

The tides have been rapidly changing for hemp companies to gain access to banking, which has not traditionally been available to hemp companies due to the fact that hemp was (sort of) federally illegal until about a year ago. As we previously explained: Commercial marijuana activity remains a federal crime,  and the Bank Secrecy Act

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Utah Cannabis Investment Fraud: Know Your Securities Laws

It is trite of me to say so, but the current “gold rush” in the U.S. has prospectors dreaming of double-fisting cannabis buds and greenbacks, and that makes for fertile fraud soil. In this green rush, investors are voraciously putting money into cannabis ventures that are, in some instances, producing vast amounts of cash and

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California Cannabis: Department of Business Oversight Issues Somewhat Helpful Guidance to Financial Institutions

Earlier this month, on October 3, the California Department of Business Oversight (the “DBO”) issued a Cannabis Banking Guidance memorandum to its state-chartered financial institutions (banks and credit unions) to help them make appropriate risk assessments in serving cannabis-related businesses and comply with federal guidelines.  The memorandum is in the form of an extensive questionnaire. The

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Marijuana Business Financing: Tough Questions From Investors

As veteran marijuana business owners (and virtually every other type of industry owners) know, there may come a point in time in the business when you are sitting across the table from someone who is offering to put money into your business. They may be your prospective business partner. They may be your close friends