A new report from a branch of the U.S. Treasury Department confirms the Internal Revenue Service is preparing to launch an increase in marijuana industry audits nationwide, but it also offers a possible way for cannabis companies to dodge millions in federal taxes,...
Most state governments around the nation have deemed medical marijuana companies “essential” during the coronavirus pandemic, meaning the vast majority can keep doing business after residents were told to stay at home and many businesses were ordered to scale back or close their operations.
The marijuana business licensing round in Los Angeles last September was “confusing and prone to human error,” but city regulators did not bungle the process to the point that applicants were disenfranchised, according to an independent audit.
The legal cannabis industry appears poised to enter uncharted waters: an economy engulfed by a full-fledged recession. The coronavirus is inflicting severe damage to the world economy, raising the specter of a major economic contraction, and some economy watchers -...
One of the premier names in online cannabis information, Seattle-based Leafly, said Monday that it’s further cutting its workforce as part of a response to the coronavirus outbreak. “Today Leafly eliminated the roles of 91 employees across the...
Under a clarification document Gov. Gavin Newsom issued late Friday, all licensed marijuana businesses in California can continue with business as usual during an effective statewide lockdown implemented in response to the coronavirus outbreak. The decision to...
The governor of Illinois on Friday followed his counterparts in California and New York by issuing a statewide stay-at-home order in response to the growing coronavirus crisis. And it appears that New Jersey and Connecticut may take similar steps, which could leave...
California Gov. Gavin Newsom's new statewide stay-at-home order has created even more uncertainty for marijuana businesses in the world's largest cannabis market, forcing executives to navigate a growing jumble of local rules that may or may not permit MJ companies to...
Cannabis sales are currently brisk at many California marijuana shops as consumers stock up over the fear MJ retailers could shutter indefinitely – but even so, the business fallout surrounding coronavirus has pushed some California MJ firms closer to the brink.
As more and more markets across the United States have legalized marijuana sales, experienced cannabis retailers have come to expect certain speed bumps on launch day.
The 2020 California legislative session began in January, and marijuana industry insiders say what happens by time it concludes could be make-or-break for the state's legal MJ industry as it deals with ongoing challenges around taxes, the illicit market and local...
As the coronavirus rattles broader stock markets around the world, it is also making it even harder for cannabis companies to raise money from investors in an already-tight funding environment.
