Entries by Tax Attorney

Cannabis Rescheduling Hearing to Run Through March 2025

The prime benefits of reclassifying cannabis from a Schedule 1 substance to a Schedule 3 substance is that the Federal government would recognize medical benefits of cannabis, make Section 280E inapplicable to licensed cannabis operators, and open up financial and banking markets. On August 26, 2024 the Drug Enforcement Administration (“DEA”) released its notice scheduling […]

Corporate Transparency Act Blocked Nationwide by Texas Court

Corporate Transparency Act Blocked Nationwide by Texas Court Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Put On Hold The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued a final ruling establishing a beneficial ownership information reporting requirement, pursuant to the […]

Under A Second Trump Term, How Will The U.S. Attorneys’ Office Support Or Hinder The Cannabis Industry?

During President Trump’s 2016 campaign, he supported medical marijuana and deferred recreational use decisions to individual states. However, his first administration took a stringent approach, with then Attorney General Jeff Sessions rescinding Obama-era guidelines that limited federal interference in state-legal cannabis activities. The Growing Trend In Legalizing Cannabis – Current Standings: Medical marijuana is legal […]

Under A Second Trump Term, How Will The U.S. Attorneys’ Office Support Or Hinder The Cannabis Industry?

During President Trump’s 2016 campaign, he supported medical marijuana and deferred recreational use decisions to individual states. However, his first administration took a stringent approach, with then Attorney General Jeff Sessions rescinding Obama-era guidelines that limited federal interference in state-legal cannabis activities. The Growing Trend In Legalizing Cannabis – Current Standings: Medical marijuana is legal […]

San Francisco Voters Approve A Significant Overhaul To The City’s Business Tax Regime

San Francisco Voters Approve A Significant Overhaul To The City’s Business Tax Regime On November 5, 2024 voters in San Francisco approved Proposition M (“Prop. M”) which aims to exempt more small businesses from taxes and fees, while reducing taxes on some of the city’s largest companies. Currently, San Francisco taxes businesses operating in the […]

How Will The Second Trump Administration Handle Cannabis?

During President Trump’s 2016 campaign, he supported medical marijuana and deferred recreational use decisions to individual states. However, his first administration took a stringent approach, with then Attorney General Jeff Sessions rescinding Obama-era guidelines that limited federal interference in state-legal cannabis activities. The Growing Trend In Legalizing Cannabis – Current Standings: Medical marijuana is legal […]

How Did Cannabis Fare In The November 2024 Elections?

The November 2024 Elections gave voters in 4 states—Florida, Nebraska, North Dakota, and South Dakota the opportunity to decide on whether they want to legalize recreational or medical/adult-use marijuana. Here are the results …. Florida – FAILED FOR RECREATIONAL/ADULT USE.  Although 55.9% voted for such constitutional amendment, it nevertheless failed because Florida requires a 60% […]