Marijuana Business Magazine March 2020

Marijuana Business Magazine | March 2020 120 NotableQuotes | Insightful Industry Observations – Robyn Rabinovich International business advisory lead for the cannabis sector at Toronto-based Hill+Knowlton, on the significance of Canadian marijuana companies with overseas business ambitions being eligible for financial aid and other forms of support from Canada’s federal government. Source: Marijuana Business Daily International Having a credible federal government entity like the Trade Commissioner’s Service support the cannabis sector in seeking out international opportunities will support the long-term viability of the industry and will help take advantage of the unique position Canada is in to export medical cannabis products globally. 280E is the big bright line. … But from my perspective, it’s not nearly the nastiest thing that can happen. I have clients that owe $1 million in tax and another $1 million in penalties (to the state of California). Source: Marijuana Business Daily – Regina Unegovsky A tax attorney in the San Francisco area, on the fact that California marijuana businesses not only face Section 280E of the IRS tax code but also are encountering hefty penalties from the state tax agency for late payments. Be a lot more forthcoming than (the tobacco vaping) industry has been. They really overstated a lot of the safety of their products. I would go for transparency. If you make false claims and oversell safety, it’s going to come back to you. – Robert Strongin A professor of organic chemistry at Portland State University in Oregon, on how cannabis vape companies can win back consumer confidence after the vaping health scare. Source: Marijuana Business Daily