In late August, the U.S. Department of Health and Human Services announced that it would recommend moving marijuana from Schedule I to Schedule III of the Controlled Substances Act. In this episode, corporate cannabis attorney Daniel Shortt moderates a discussion with tax attorney Douglas Charnas and financial services regulatory attorneyContinue Reading Podcast: Tax and Banking Implications of Rescheduling Marijuana
Douglas Charnas is a Chambers recognized prominent corporate and tax attorney, who has also served as a lawyer for the Internal Revenue Service. He counsels clients on transactional and corporate issues such as taxation, formation and operations, service and lease agreements, international and domestic operations, and succession planning. He has been an adjunct professor at Georgetown Law School for more than thirty years teaching a course on S corporations and limited liability companies. Douglas's knowledge on how cannabis businesses' corporate structure impacts their tax treatment, as well as complex interstate, insurance, and dormant commerce clause issues, brings great value to the industry. His written content has been republished in multiple cannabis, insurance, regulatory journals.
A hard lesson was learned after cannabis was discovered in a suitcase at the airport: the government does not have to prove cannabis is marijuana to convict you of trafficking in marijuana. A new case recently clarified that the legal burden shifts and requires the accused to produce evidence that…Continue Reading Hemp in Your Suitcase Can Get You Convicted of Trafficking in Marijuana
The increasing number of states legalizing marijuana for both recreational and medical use raises critical questions regarding if and how insurance coverage should be made available with respect to auto or other general property and casualty insurance claims involving damages or injuries that occur when a person is under the influence of marijuana.
Continue Reading Ohio Appellate Decision Tackles Excluded Coverage For Marijuana Use
Tax season is nearly upon us. As cannabis businesses and the professionals who advise them can expect, navigating the variations and even direct conflicts that exist between and among the state and federal authorities that govern a cannabis business’s respective tax filings can be treacherous.
Continue Reading Tax Win in Oregon Reminds Cannabis Businesses to Properly Classify Expenses
Have Marijuana Residency Licensure Requirements Gone Up In Smoke?
For a variety of reasons, many states that have legalized recreational or medical marijuana have imposed residency requirements throughout their regulatory schemes, meaning that marijuana license holders, employers, and, in some cases, even consumers, must be residents of the state. However…Continue Reading Maybe You Can Play In the Sandbox If You Don’t Live in the Neighborhood