Legal & Regulatory News for Marijuana Businesses

5 business takeaways from Target’s flip-flop on selling CBD products

Kristen Nichols  | October 11, 2017

By Kristen Nichols

Target Corp. sent shockwaves through the marijuana industry last month when the retail giant quietly started selling CBD products, despite federal drug authorities repeatedly saying the cannabis compound is illegal.

But the sales proved short-lived.

Arkansas accountants cleared to do work for medical marijuana firms

Kristen Nichols  | October 10, 2017

Accountants in Arkansas have been given the green light to provide professional services to medical marijuana businesses, making Arkansas one of the few states where accountancy regulators have given clear guidance on the industry.

The Arkansas State Board of Public Accountancy (ASBPA) has received 5-10 inquiries from accountants wondering if they’re allowed …

Nevada AG to weigh in on cannabis consumption lounges

Kevin Huhn  | October 6, 2017

Nevada’s marijuana regulators have asked state Attorney General Adam Laxalt for a formal opinion on whether state law allows cannabis use in smoking lounges and at special events.

According to the Nevada Appeal, the state’s Department of Taxation made the request in the wake of a Legislative Counsel’s opinion that the voter-approved …

CBD is no longer taboo, says global anti-doping regulator

Kristen Nichols  | October 6, 2017

CBD will take another big step toward the mainstream next year when the World Anti-Doping Agency (WADA) removes hemp-based products from a list of banned substances.

WADA’s 2018 listing will show that “cannabidiol is no longer prohibited,” though the agency didn’t explain why CBD was removed.

WADA – whose mission is to …

Week in Review: New York’s black market, new Maryland cannabis licensees & Michigan cultivation rule

John Schroyer  | October 6, 2017

By Omar Sacirbey, Bart Schaneman and John Schroyer

Potential medical marijuana patients in New York are turning to the black market, Maryland awards eight more MMJ business licenses, and a new Michigan law could increase cannabis cultivators’ production.

Here’s a closer look at some notable developments in the marijuana industry over the past week. 

Hemp State Highlight: North Carolina puts out big welcome mat for hemp industry

Roger Fillion  | October 6, 2017

By Kristen Nichols

Dozens of states are slowly experimenting with industrial hemp cultivation and processing, authorizing limited tests through land-grant universities. Not North Carolina.

North Carolina has gone all in on hemp, which state officials see as a natural fit for an economy once dominated by tobacco farming and textile manufacturing.

Michigan raids lead to closure of 8 medical marijuana dispensaries

John Schroyer  | October 5, 2017

A whopping eight medical cannabis dispensaries were raided and forced to close in northern Michigan.

All eight were located in Grand Traverse County and were raided by the Traverse City Police, Traverse Narcotics Team and Michigan State Police, reported.

The raids were executed simultaneously after a monthlong investigation involving undercover officers who …

Possible repeal of 280E for marijuana businesses: Q&A with Rep. Carlos Curbelo

John Schroyer  | October 5, 2017

By John Schroyer

The 280E section of the federal tax code has been the bane of law-abiding cannabis businesses for years because it typically results in plant-touching companies paying enormous tax bills to the IRS.

But that could change, perhaps even this year, if Congress were to pass the Small Business Tax Equity Act.

Alberta’s rec cannabis blueprint leaves door open to private retailers, MJ clubs and lounges

Matt Lamers  | October 5, 2017

By Matt Lamers

Alberta’s proposed framework to regulate marijuana leaves open the possibility private companies could sell adult-use products, a move that would be a boon for businesses wanting to participate in the province's retail sector.

The provincial government also signaled it is open to marijuana cafes and lounges, which would provide more opportunities for entrepreneurs.