Cannabis businesses can preserve their right to claim a refund for ordinary business expenses by filing protective amended federal tax returns under IRS Section 280E.
Michigan Court of Appeals issues published decision that city's cannabis business license application and approval processes didn't violate due process clause of U.S. Constitution.
Legal challenges could delay or even upend Detroit’s cannabis business application process set to begin on Aug. 1, but applicants must prepare now in order to file timely.
After years of delay and speculation, the city of Detroit issues new recreational cannabis ordinance.
Will the federal SAFE Act, which would allow cannabis businesses to access traditional banking services, win Congressional approval before one its biggest supporters leaves office later this year?
Cryptocurrency payment networks could revolutionize cannabis industry and pressure federal government to allow traditional financial institutions to service the market.
With the SAFE Banking Act now pending in Congress, financial institutions would do well to begin considering the necessary due diligence to potentially service the cannabis industry.
Understanding what led a conservative Supreme Court Justice to question the federal government’s need to prohibit the intrastate use or cultivation of cannabis.
Michigan Supreme Court ruling gives municipalities broad latitude to regulate cannabis grow facilities through local zoning laws.
Biden-Sanders Unity Plan falls short on cannabis agenda, but it’s More than what is available under Trump administration.
Michigan Marijuana Regulatory Agency updates COVID-19 guidance for cannabis businesses.
Michigan regulatory agency issues cannabis business requirements to protect employees and customers from COVID-19.
While many states consider cannabis businesses essential, they are currently not eligible to receive federal COVID-19 emergency funding. That could soon change.
Rapid industry growth leads U.S. Treasury Inspector General to publish report calling for more tax compliance efforts and additional guidance to cannabis businesses.
Michigan governor issues an executive order allowing medical and recreational cannabis businesses to remain open as essential services during coronavirus pandemic.
No need to be confused about cannabis possession or use in Michigan. We’ve created this simple “Dos and Don’ts” list to guide you.
Repeating election mistakes of the past may doom future efforts by cannabis industry advocates to win voter approvals for local ballot initiatives.
Court rules a legally operating cannabis business under California state law is not entitled to any tax deductions.
Like other requirements, environmental regulations apply to medicinal and recreational cannabis businesses too.
Michigan Court of Appeals rules real estate contract illegal, barring recovery by cannabis grower tenant seeking damages for alleged wrongful conduct by defendant landlord.
Can a landlord receiving rent from a cannabis businesses file a Chapter 11 Plan of Reorganization or will their plan go up in smoke because cannabis remains illegal under federal law?
Officials must read more than “tea leaves” to fully understand how Michigan’s medical and recreational cannabis industries will impact the state’s energy grid.
Illinois’ landmark move clears a path for one of the nation’s largest adult-use cannabis markets, providing huge business opportunities.
With only two weeks left until adjournment, can Illinois legislators get a bill legalizing recreational cannabis across the finish line?
Appellate court rules municipalities cannot reject rezoning applications by cannabis businesses without a logical reason.
Democrats rally around federal legalization of cannabis with introduction of Marijuana Justice Act and Path to Marijuana Reform.
LARA allows caregivers to provide product to medical cannabis processors and growers, but temporary operations must cease doing business on March 31.
Michigan’s new Gov. Gretchen Whitmer seeks to streamline cannabis business licensing process with creation of new Marijuana Regulatory Agency.
Paying your cannabis business taxes in cash can become a simpler process with proper planning and coordination with your accountant.
Michigan legislation legalizes use of CBD oil, although it remains a government regulated substance.
Michigan medical cannabis businesses with pending state business license applications can temporarily reopen under new ruling by regulatory agency.
Unlicensed Michigan cannabis businesses are advised to seek legal counsel to understand potential impact of recent court ruling, new legislation and regulatory enforcement actions that could impact future license approvals.
A closer look at the tax impact on recreational cannabis sales if Michigan's Prop 1 is approved on Nov. 6.
Unlicensed Michigan cannabis businesses avoid Oct. 31 closure deadline under new court ruling.
Understanding insurance policy fine print is a must for cannabis businesses seeking product liability coverage for bodily injury claims caused by “adulterated marihuana.”
Canada’s recent move to legalize recreational cannabis could further thaw U.S. attitudes on the issue.
Michigan court stays regulatory department's rule regarding unlicensed medical cannabis facilities.
Time is running out for unlicensed medical cannabis facilities operating in Michigan.
State of Michigan extends deadline from June 15 to Sept. 15 for existing cannabis dispensaries to close or risk denial of their medical cannabis business applications.
Following a successful grass roots petition drive, Michigan residents will have an opportunity to vote on Nov. 6 to legalize the recreational use of cannabis.
While banks remain on the cannabis industry sideline, a letter to Congress by state attorneys generals could soon change that.
Applicants seeking Michigan medical cannabis business licenses must provide full disclosure of their criminal past.
Michigan Treasury Department seemingly double-dips cannabis related businesses with new tax rules.
Michigan law would require an amendment to allow insolvent cannabis-related businesses to wind down because they are barred from seeking federal bankruptcy protection.
U.S. Attorney General Sessions reneges on promise not to trample states’ rights on cannabis decriminalization.
Michigan medical cannabis board issues Advisory Bulletin that includes possibility of unified operations in one location.
Michigan licensing board seeks to force medical cannabis establishments to close by Dec. 15 before they are eligible to be considered for a state license.
Michigan Marihuana Licensing Board member suggests proposal to shutter existing medical cannabis dispensaries statewide by Sept. 5.
New Michigan medical marijuana legislation requires closer scrutiny of license applicant investors, business owners and managers.
Pending federal legislation could make banking easier for businesses in the cannabis industry.
Michigan officials scramble to create regulations for state’s new medical cannabis industry.
Michigan’s new regulatory regime for medicinal cannabis may require strict control and disposition of cannabis wastes.
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Recent Updates
- Beyond 280e: The Future of the Ordinary Business Deduction for Cannabis Businesses
- What You Can do Now to Prepare for an IRS Employee Retention Credit Audit
- Understanding the 3 Options for IRS Notice Compliance
- City's Denial of Cannabis Business License Didn't Violate Right to Due Process
- Is Detroit’s Upcoming Cannabis Business Licensing Process a Path Through the Clouds or an Echo of 2021?
- ‘Free the Weed’ – Detroit City Council Approves Long-Awaited Recreational Cannabis Ordinance
- Hope Springs Eternal for the SAFE Banking Act
- Bitcoin’s Lightning Network Offers Promising Alternative for Cannabis Industry’s Banking Needs
- Will SAFE Banking Act Rescue Cannabis Industry From Lack of Access to Financial Services?
- Cannabis Smoke Signals from the United States Supreme Court