Cannabis

Top News

6th Circ. Upholds IRS Summons For Cannabis Biz Docs

By Dylan Moroses

A Michigan federal court correctly dismissed a suit by cannabis business owners seeking to quash a third-party summons issued by the IRS requesting their companies' records because the summons aided a criminal investigation, the Sixth Circuit said Friday.

Cannabis Bill Roundup: Mont. Weighs How To Dole Out Funds

By Sam Reisman

The Montana House of Representatives advanced multiple bills implementing voter-approved adult-use legalization, but with dueling proposals on how to spend the tax revenue, while North Carolina lawmakers pitched medical and recreational cannabis legislation on the same day. Here are the major developments in cannabis reform from the past week. 

Va. Moves Up Date To Legalize, Tax Marijuana To July 1

By Maria Koklanaris

Virginia will legalize and tax marijuana for adult recreational use starting July 1, after lawmakers Wednesday approved amendments from the governor to move up the date from Jan. 1, 2024.

IRS Asks Justices To Not Revive Pot Cos.' $1.9M Tax Fight

By Dylan Moroses

The IRS urged the U.S. Supreme Court to affirm a lower court's finding that cannabis companies lost their chance to challenge a $1.9 million tax bill because their petitions were received a day late and weren't subject to equitable tolling.

NM Lawmakers Pass Adult-Use Marijuana Measures

By Sarah Jarvis

New Mexico legislators have given their final approval to measures that would legalize and regulate adult recreational marijuana and expunge the records of those convicted of low-level marijuana offenses, sending them to the governor's desk.

NY Legalizes Pot Possession, Sales And Taxation

By James Nani

New York Gov. Andrew Cuomo on Wednesday signed into law a sweeping cannabis legalization and taxation bill, making the Empire State the 16th state to do so and creating potentially one of the biggest legal cannabis markets in the country.


Expert Analysis

Alcohol Taxation Provides Good Model For Cannabis Taxes

Although the alcohol taxation system isn't perfect, it could serve as a useful template for cannabis taxation with a three-tier licensing scheme and tax rates based on potency, says Louis Terminello at Greenspoon Marder.

How NY's Cannabis Legalization Act Prioritizes Equity

Elements of New York's recently passed Marijuana Regulation and Taxation Act, such as its prohibition of vertically integrated operators, show consideration for social and economic equity in the new industry, says Simon Malinowski at Harris Bricken.

3 Degrees Of Legalization Show True Prevalence Of Cannabis

The three degrees of state marijuana legalization regimes throughout the U.S. show that cannabis is only fully illegal in three U.S. states and one territory — not 14 states as some counts indicate — and even in those places, there are stirrings of change, says Julie Werner-Simon at Drexel University's Thomas R. Kline School of Law.

MORE COVERAGE

March 31, 2021 07:49 PM

Va. Gov. Seeks To Legalize, Tax Cannabis This Summer

March 30, 2021 08:46 PM

NY Lawmakers Send Pot Legalization Bill To Cuomo

March 29, 2021 06:44 PM

Cannabis Co. Owes Accuracy Penalties, Tax Court Says

March 26, 2021 07:26 PM

Cannabis Bill Roundup: NY To Vote On Pot Legalization Bill

March 26, 2021 02:17 PM

Colo. House OKs Matching Use Tax To Sales Tax Breaks

March 26, 2021 08:17 PM

North Dakota Senate Kills Pot Legalization, Tax Bills

March 26, 2021 03:01 PM

Ill. Finalizes Rule Clarifying Tax On Cannabis Concentrates

March 24, 2021 08:39 PM

NY Pot Bill To Get Vote Next Week, Sponsor Says

March 24, 2021 04:34 PM

IRS Pot Co. Summonses Should Be Nixed, Justices Told

March 19, 2021 08:04 PM

Cannabis Bill Roundup: NM Vote Goes Up In Smoke

March 18, 2021 07:04 PM

Maine Tax Dept. Issues Sales Tax Rules, Cannabis Guidance

March 17, 2021 04:05 PM

IRS' Cannabis Enforcement Records Search Ruled Adequate

March 16, 2021 04:50 PM

Impaired Driving Among Last Hurdles For NY Pot Deal

March 12, 2021 08:37 PM

NY Deal To Legalize And Tax Pot Close, Bill Sponsor Says

March 12, 2021 07:36 PM

Cannabis Bill Roundup: Dueling Legalization Plans In RI

March 12, 2021 07:51 PM

Calif. Court Rejects County's Expanded Pot Growing Tax

March 11, 2021 08:31 PM

Iowa Bill Seeks Legal Cannabis Sales With Excise Taxes

March 11, 2021 09:59 PM

SD Pot Advocates Tell Justices Ballot Fight Hurts Elections

March 11, 2021 08:18 PM

RI Offers $11B Budget With Legal Pot, Partial PPP Conformity

March 10, 2021 05:50 PM

NY Coalition Forms To Push Legal Pot Across The Finish Line