Cannabis

Top News

NM And 2 Pueblos Agree To Cooperate On Cannabis Taxes

By Joyce Hanson

Two federally recognized tribes and New Mexico have inked pacts that recognize the tribes' authority to run their own tax programs for the sale of cannabis on pueblo lands.

Miss. Publishes Final Medical Cannabis Tax Rules

By Michael Nunes

Mississippi will apply an excise tax on transactions between cannabis cultivators and other cannabis entities and dispensaries will need to collect sales tax when selling to patients, according to a final publication of regulations published by the state.

NJ Bill Seeks OK Of Cannabis Biz Tax Deductions

By Michael Nunes

New Jersey would decouple state tax provisions from the federal law prohibiting cannabis businesses from deducting expenses under a bill introduced in the state Assembly.

Advocates Say Calif.'s Tax Is Limiting Legal Cannabis Market

By Mike Curley

Three advocacy groups are urging California to eliminate a cultivation tax on legal cannabis, saying in a study announced Friday that the move can increase sales and bring in more tax revenue while helping the legal market compete with illegal sales.

Court Stays $735K FBAR Case Against Pot Farmer's Estate

By Matthew Guerry

Efforts to extract nearly $735,000 in foreign bank account reporting penalties from the estates of a deceased cannabis farmer and his wife are on hold while the estates' attorney determines whether he has conflicts of interest.

Calif. Cannabis Dispensary Owes Tax On $2.3M In Sales

By Jaqueline McCool

A California cannabis dispensary is on the hook for its assessed tax liability on $2.3 million in unreported sales after failing to prove an error in the audit process, the state Office of Tax Appeals ruled in an opinion. 


Expert Analysis

MORE Act's Possible Impact On State-Licensed Cannabis Cos.

The Marijuana Opportunity Reinvestment and Expungement Act, recently passed in the U.S. House of Representatives, would dramatically alter the federal legal landscape for state-licensed cannabis businesses in both positive and negative ways — from opening new marketing avenues to compounding tax burdens, say attorneys at the Law Offices of Omar Figueroa​​​​​​​.

Mich. Marijuana Bill Could Boost Tribal Economic Growth

New legislation in Michigan could help Native American tribes raise revenue for government services by creating a pathway for their marijuana businesses to interact with state-licensed facilities — a cooperative approach that supports tribal sovereignty and provides a model for resolving related jurisdictional challenges, says Paul Mooney at Dykema.

Federal Cannabis Bill Needs A Regulatory Plan To Succeed

The Marijuana Opportunity Reinvestment and Expungement Act, which was passed by the U.S. House of Representatives on Friday, is laudable but fundamentally flawed because it lacks a robust regulatory plan that would allow for bipartisan support, says Andrew Kline at Perkins Coie.

MORE COVERAGE

May 2, 2022 05:05 PM

Mass. Floats Rule On Tax Collection For Marijuana Deliveries

April 21, 2022 05:48 PM

Holland & Hart Adds Cannabis Tax Litigator In Denver

April 20, 2022 05:32 PM

Mo. Senate OKs SALT Cap Workaround, Tax Omnibus Bill

April 14, 2022 05:31 PM

NY Tribe To Open Empire State's First Adult-Use Pot Shops

April 11, 2022 04:21 PM

NM Medical Pot Retailer Can Deduct Biz Expenses

April 6, 2022 03:47 PM

NM Cannabis Seller Can Deduct Business Expenses

April 1, 2022 01:07 PM

US House Approves Bill To End Federal Cannabis Prohibition

March 31, 2022 03:28 PM

IRS' Pot Co. Summonses Should Be Tossed, 10th Circ. Told

March 31, 2022 06:28 PM

Pot Bill Would Raise $8B In Revenue, JCT Says

March 31, 2022 05:11 PM

Mo. Senate OKs SALT Cap Workaround, Pot Tax Break

March 30, 2022 09:13 PM

Former Mayor Tells 1st Circ. Corruption Verdict Can't Stand

March 25, 2022 06:49 PM

Colo. Court Says State Can Claw Back Unpaid Pot Taxes

March 25, 2022 06:59 PM

Cannabis Bill Roundup: MORE Act To Get Another Floor Vote

March 25, 2022 01:20 PM

Taxation With Representation: Latham, Paul Hastings

March 27, 2022 09:02 PM

Law360 Reveals Titans Of The Plaintiffs Bar

March 24, 2022 07:54 PM

US Goes After Dead Pot Farmer's Assets For FBAR Debts

March 22, 2022 07:03 PM

Mo. Senate Advances SALT Cap Workaround, Pot Tax Break

March 21, 2022 09:05 PM

Cannabis Company Vireo Sued Over Ex-COO's Hefty Tax Bill

March 16, 2022 08:21 PM

Husch Blackwell Debuts Psychedelics Practice Team

March 15, 2022 07:57 PM

Okla. Medical Pot Regulator Inks Partnership With Data Firm