Legislative and Regulatory Updates

In accordance with Ohio’s new adult-use marijuana legislation, applications for initial dual-use marijuana licenses will be made available by the Division of Cannabis Control (DCC) on its website no later than this Friday, June 7 – a historic day in the state.

The first licenses to be issued will not be available to the general public but will be issued only to currently licensed medical marijuana cultivators, processors, laboratories, and dispensaries.
Continue Reading Ohio’s Dual-Use Marijuana License Applications Available June 7

Once rescheduling occurs (or possibly even before), the IRS may publish guidance on how rescheduling affects Section 280E and the deduction of marijuana-related expenses. In the meantime, cannabis businesses may consider working with their tax professionals on how best to time paying or incurring marijuana-related expenses, as well as to submit all necessary documentation to preserve their rights to obtain refunds for taxes previously paid under 280E.
Continue Reading Paid or Incurred: Marijuana Rescheduling, Taxes, and Section 280E

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

On May 16, 2024, the U.S. Drug Enforcement Administration (DEA) released the proposed rule (Proposed Rule) to reschedule marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA). The Office of Legal Counsel (OLC) also provided a memo to the Department of Justice (DOJ) supporting the DOJ, which oversees the DEA and grants the DEA authority to make rules under the CSA to the DEA.
Continue Reading Rescheduling Marijuana FAQs: How Do I Submit Comments on DEA’s Proposed Rules?

On April 11, 2024, Texas Lt. Governor Dan Patrick released his 2024 Interim Legislative Charges. This list indicates his goals for the upcoming legislative session, and among his priorities ahead of the 2025 Texas Legislative Session are “further regulat[ing] the sale of Delta 8 and Delta 9” and “stop[ping]

Continue Reading Texas Politicians Take Aim at Hemp-Derived THC

Marking a significant development for the cannabis industry both in the state of Florida and throughout the U.S., an initiative will appear on the November 5, 2024, ballot in Florida, which could amend its constitution to allow the sale of recreational marijuana.
Continue Reading Florida Supreme Court Paves Way for Voters to Legalize Recreational Marijuana in November

At the White House last Friday, Vice President Kamala Harris spoke at a meeting with people who received pardons from President Joe Biden for marijuana-related offenses. She signaled that the federal government, namely the Drug Enforcement Administration (DEA), is moving “as quickly as possible” towards rescheduling marijuana – that is, changing the way

Continue Reading What is the Timeline for Rescheduling Marijuana?