What do Megan Rapinoe, Kevin Durant, Shawn Kemp, Calvin Johnson, Willie Nelson, Wiz Kalifa, Margo Price, and Sublime all have in common? They all have created their own boutique cannabis brands. As cannabis has become more popular, celebrity athletes and musicians have taken notice and jumped into the game. This
Continue Reading Five Things Celebrity Athletes and Musicians Should Consider When Entering into Cannabis Branding Agreements
On May 21, 2024, the Drug Enforcement Agency (DEA) filed the Proposed Rule to move marijuana from Schedule I of the Controlled Substances Act (CSA) to Schedule III of the CSA. In light of the rescheduling marijuana news, industry insiders anticipate a significant increase in cannabis-related investments and acquisition activity. While this anticipated increase in activity is exciting, it is no secret that those who have already invested capital into the cannabis industry have learned some hard lessons over the last decade.
Continue Reading Rescheduling Marijuana FAQs: Cannabis-Related Investments
It is no secret that cannabis businesses and owners remain largely barred from taking advantage of federal bankruptcy protections, leaving distressed marijuana businesses with limited restructuring options. Most often, distressed marijuana businesses and businesses serving the marijuana industry (collectively, MRBs) must instead rely on state law, including state-specific cannabis
Continue Reading Cannabis Creditors Face Receivership in Oregon
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
The trend to legalize the medical and recreational use of marijuana continues to blaze through the states, but federal law — and bankruptcy courts by extension — have not yet followed suit.[1]
Bankruptcy courts have historically prevented cannabis — and even cannabis-ancillary companies — from filing for protection under the
Continue Reading Pot Cos. Can Rely On State Law For Bankruptcy Safeguards
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
As the trend to legalize the medical and recreational use of marijuana continues to blaze through the states, federal law, and bankruptcy courts by extension, have not yet followed suit. Bankruptcy courts have historically prevented cannabis – and even cannabis-ancillary companies – from filing for protection under the U.S. Bankruptcy Code because marijuana remains illegal under the CSA at the federal level.
Continue Reading Cannabis Companies Lacking Bankruptcy Protections Can Explore State Options
This article was published in the April 2022 issue of the Cannabis Law Journal.
The federal government is poised to apply a new herbicide to marijuana businesses throughout the United States: Section 6662 of the Internal Revenue Code. (26 US Code § 6662(a).)
While legal marijuana businesses
Continue Reading A New Herbicide for Marijuana Businesses: Internal Revenue Code § 6662