Employee stock ownership plans (ESOPs) have been used as a business succession strategy by employers across many industries. In the cannabis industry, ESOPs have come and gone and come again as a trendy topic promising to fix...more
6/27/2025
/ 401k ,
Acquisitions ,
Agribusiness ,
Business Ownership ,
Business Succession ,
Cannabis-Related Businesses (CRBs) ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Internal Revenue Code (IRC) ,
IRC Section 280E ,
Liquidity ,
Mergers ,
Retirement Plan ,
S-Corporation ,
Stocks ,
Tax Planning ,
Taxation ,
Valuation
On February 6, 2025, a Pennsylvania federal judge gave preliminary approval to a $2.1 million settlement resolving a class action involving the Pride Mobility ESOP. This case is one of six brought so far—and the second to...more
Beginning February 1, 2017, the Internal Revenue Service (IRS) stopped accepting applications for determination letters for individually designed plans, other than for new plans and terminating plans. This change in IRS...more