Marijuana companies shut out from Chapter 11 protection have other options

Marijuana companies have been relatively fortunate during the COVID-19 pandemic, with many deemed essential businesses able to keep their doors open. But with the nation’s economy facing a major downturn, some marijuana companies will probably have to restructure their operations after landing in financial hot water.

Hemp companies in financial trouble now have the option to file for bankruptcy protection – but there are alternatives businesses can try first

In a recession, there are bound to be business casualties—particularly in a high-risk, nascent industry such as hemp. Hemp companies have experienced a perfect storm of obstacles since legalization in late 2018—an uncertain regulatory environment, overproduction in 2019, ongoing challenges with access to banking and financial services and, now, COVID-19. In short, the odds are stacking up against hemp entrepreneurs.

Overtime-pay issue leads CO marijuana security firm to US Supreme Court

A cannabis security company based in Colorado has petitioned the U.S. Supreme Court to review a lower-court decision requiring state-legal marijuana businesses to adhere to federal labor laws such as overtime pay.

Advice on 280E for marijuana executives: Settle in lieu of fighting with the IRS

As a former Federal Commissioned Officer of the Internal Revenue Service, here’s my advice for cannabis companies and section 280E of the U.S. tax code: Settle with the IRS – rather than fight it in U.S. Tax Court.

FDA warns against vaping cannabis products containing THC

The U.S. Food and Drug Administration on Friday issued an updated consumer alert warning people not use vaping products containing THC, though it makes no mention of recommendations for cannabis businesses.