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Reporting Requirements Cannabis-Related Businesses (CRBs)

Burr & Forman

Alabama THC Bill

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Alabama has enrolled legislation regulating the sale of consumable products (including beverages, edible products, and topical creams) containing THC or CBD derived from hemp, and has designated the Alabama ABC Board as the...more

Husch Blackwell LLP

Reflections on First Minnesota Adult Use Cannabis General Licensing Window

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Like many others, we were caught up in filing a slew of Minnesota adult use cannabis applications for our clients by March 14 (which, if you were paying attention, that deadline was extended to March 15 by midnight because of...more

Husch Blackwell LLP

Cannabis Law Now Podcast: Cannabis Companies and the Corporate Transparency Act

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The Corporate Transparency Act (CTA) seeks to increase corporate transparency and combat financial crimes in the U.S. such as money laundering and terrorist financing. Enacted in January 2021 as part of the National Defense...more

Troutman Pepper Locke

Key Regulatory Changes in Colorado’s Marijuana Industry – What Businesses Need to Know

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Just before the close of the Colorado legislature’s 2024 session, lawmakers approved a bill aimed at streamlining several deficiencies in the state’s regulation of marijuana businesses. While not all the bill’s intended fixes...more

Troutman Pepper Locke

Preparing for IRS Cash Transaction Reporting in the Cannabis Industry

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The various forms of information reporting required by the Internal Revenue Code form the backbone of both voluntary compliance with tax laws and the starting point for audits by the Internal Revenue Service (IRS). One form...more

Fox Rothschild LLP

IRS Issues New Guidance for Cannabis Companies That Receive Over $10K Cash

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The IRS’s Office of Chief Counsel recently published a memorandum providing information for cannabis companies struggling to comply with the completion of Form 8300, which must be filed every time a company receives a cash...more

Seyfarth Shaw LLP

The Corporate Transparency Act is Here

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It’s already February, the holidays are over, and compliance with the Corporate Transparency Act (“CTA”) is on everyone’s mind....more

Troutman Pepper Locke

The Corporate Transparency Act and Its Connection to Cannabis

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I. Introduction - Effective on January 1, 2024, the Corporate Transparency Act (CTA) will require all nonexempt entities to report certain identifying information of its beneficial owners (as defined below) and company...more

Foley & Lardner LLP

Cannabis Company Cops to SEC Accounting Fraud Charges

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On October 24, 2022, the Security & Exchange Commission (SEC) issued settled orders against Cronos Group, Inc. (Cronos), a Canadian cannabis company, and its former Chief Commercial Officer. Cronos cultivates, manufactures,...more

ArentFox Schiff

Form 8300: When To File and What To Do With Cannabis Business Cash

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Cannabis businesses that regularly transact in cash need to strongly consider creating an internal policy to ensure that the Form is regularly completed and filed. The cannabis business is busier than ever and with all of...more

Foley Hoag LLP - Cannabis and the Law

What Cannabis, Hemp, and CBD Companies Need to Know about the PACT Act

Vape product sellers face a new legal landscape after Congress recently expanded the Prevent All Cigarette Trafficking (“PACT”) Act to cover vaping devices. The amendments to the PACT Act came in the waning days of 2020 as a...more

Husch Blackwell LLP

Changes Upcoming To PACT-Regulated Product Reporting And Shipments

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Companies that import, market and distribute vaping products will see significant changes to their businesses due to a major modification in the scope of products subject to the Prevent All Cigarette Trafficking (PACT) Act....more

ArentFox Schiff

Cannabis REIT Securities Filing Demonstrates How to Disclose the Regulatory Risks of Funding Cannabis Ventures to Investors

ArentFox Schiff on

AFC Gamma’s SEC filing illustrates the importance of proper risk assessment and adequate risk factor disclosures to investors in the rapidly-shifting regulatory landscape of cannabis production, sales, and lending. AFC...more

Stinson LLP

Missouri Financial Institutions Must Prepare for Impending Marijuana Banking Challenges

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In November 2018, Missouri voters passed Amendment 2, setting in motion state regulated medical marijuana. Over the last month, the Missouri Department of Health & Senior Services (DHSS) began approving license applications...more

Woods Rogers

Part 3: United States Department Of Agriculture Publishes Interim Final Rule On Domestic Hemp Production

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Part III - This article is the third in a three-part series discussing the United States Department of Agriculture’s (USDA) Interim Final Rule on the establishment of a domestic hemp production program recently published in...more

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