News & Analysis as of

State Taxes Cannabis-Related Businesses (CRBs)

Miles & Stockbridge P.C.

For Whom the Tax Tolls: Maryland’s Budget Bill and Its Fiscal Effects

Maryland Gov. Wes Moore recently signed the $67 billion state budget for 2026 (HB 352) that will make significant changes to the state’s tax system. Among other changes, the budget bill notably establishes a new tax on IT...more

Husch Blackwell LLP

Minnesota Adult Use Cannabis Updates

Husch Blackwell LLP on

Minnesota Adult Use Cannabis Update - We assisted multiple clients in completing and submitting their adult-use cannabis license applications to the Office of Cannabis Management (“OCM”), and we continue to monitor how and...more

Harris Beach Murtha PLLC

Minnesota Leads with First Tribal Compact Allowing Cannabis Sales Beyond Reservation Land; State Retains Secondary Oversight...

In a landmark agreement, the State of Minnesota and the White Earth Band of Chippewa have finalized a cannabis compact that significantly expands the tribe’s role in the state’s emerging cannabis market. This compact...more

Blank Rome LLP

Cannabis ESOPs Provide Solutions for Operators

Blank Rome LLP on

As we enter Q2 of 2025, the cannabis industry has become increasingly pessimistic about the elimination of Section 280E of the Internal Revenue Code, whether via rescheduling or otherwise. Rescheduling appears unlikely in the...more

Holland & Hart LLP

the buzz: Cannabis News & Policy Update | February 2025

Holland & Hart LLP on

Welcome back to the buzz, our monthly cannabis news and policy update. Your at-a-glance source for regulatory developments, agency announcements, and trends impacting the cannabis industry. In this edition of the buzz,...more

Falcon Rappaport & Berkman LLP

Hochul Signs Law to Revive Cannabis Farmers’ Markets (Growers’ Showcases) via New Event Permit

Heading into 2025 New York Governor Kathy Hochul signed two new cannabis related bills, one of which would bring back the previously discontinued Cannabis Growers’ Showcase program, effectively allowing adult-use cannabis...more

Harris Beach Murtha PLLC

New York Lawmakers Boost State’s Legal Cannabis Market

New York has approved two new state laws expected to boost the state’s legal cannabis market and help marijuana farmers and retailers. One law revives the Cannabis Growers Showcase program, which allows licensed cannabis...more

Troutman Pepper Locke

The Continuing Negative Impact of Federal and State Taxation on the Cannabis Industry; Where Do We Go from Here?

Troutman Pepper Locke on

The cannabis industry has experienced significant growth over the past decade, with increasing numbers of states legalizing both medical and recreational use. Currently, cannabis is legal for adults in 24 states and the...more

Troutman Pepper Locke

California AG Petitions State Court for Order to Seize Assets From an Unlicensed Cannabis Dispensary

Troutman Pepper Locke on

California Attorney General (AG) Rob Bonta is asking the Los Angeles County Superior Court to enter a civil forfeiture order allowing the state to collect unpaid taxes and fees from an unlicensed marijuana business by seizing...more

Tonkon Torp LLP

OLCC to Enact Tax Compliance Rule for Cannabis Retailers

Tonkon Torp LLP on

The Oregon Liquor and Cannabis Commission (OLCC) is set to adopt a new temporary emergency tax compliance rule for cannabis retailers that will be problematic for many in the industry. The rule, which is in response to...more

Goodwin

A Mini-Green Wave? Two More States Legalize Adult-Use Cannabis

Goodwin on

Over the past month, both Delaware and Minnesota have legalized adult-use cannabis. They are the first two states to legalize in 2023 and represent the 22nd and 23rd states to allow for adult-use commercial cannabis markets. ...more

McGlinchey Stafford

Tax Win in Oregon Reminds Cannabis Businesses to Properly Classify Expenses

McGlinchey Stafford on

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...more

Rivkin Radler LLP

NJ Publishes Guidance on Cannabis Sales & Use Tax and Social Equity Excise Fee

Rivkin Radler LLP on

The New Jersey Division of Taxation recently provided guidance on registration and licensing requirements, Social Equity Excise Fees, and the Sales & Use tax applicable to companies operating in the cannabis industry. ...more

Rivkin Radler LLP

Leaving New York? Can You Prove It?

Rivkin Radler LLP on

“Summertime and the Living” Isn’t Easy- Summer in the New York Metro Area can be challenging. Some would say it sucks. It gets really hot. When it rains, it pours – no spritz here. The humidity is oppressive. Ironically, a...more

Husch Blackwell LLP

Decoupling of Section 280E from State Tax Codes

Husch Blackwell LLP on

On May 18, 2022, in a 153-2 vote, the Massachusetts House of Representatives voted to amend the state’s tax code to provide income tax relief for Massachusetts cannabis businesses. ...more

Vicente LLP

Gov. Newsom’s Budget Trailer Bill Makes Significant Reforms to California Cannabis Laws, Including Elimination of the Cannabis...

Vicente LLP on

On June 30, Gov. Gavin Newsom signed budget trailer bill Assembly Bill 195 (AB-195) into law. AB-195 contains several significant reforms to California’s cannabis laws. The most noteworthy changes are outlined below,...more

Sheppard Mullin Richter & Hampton LLP

California Cannabis Farmers May Finally Get Some Relief

Residents of California often complain about high taxes, but no one pays higher taxes than the cannabis industry. In addition to the Federal 280E penalties, the cannabis industry in California is subject to a 15% state-wide...more

Rivkin Radler LLP

The Deduction of Cannabis Business Expenses Following New York’s 2023 Budget

Rivkin Radler LLP on

The 2023 Budget- Last week, the New York Legislature passed the State’s 2022-2023 Budget. The $220 billion Budget reflects an $8 billion increase over last year’s budget (a more than 3 percent jump). It is also $4 billion...more

Goodwin

Connecticut to Become 18th State to Legalize Recreational Cannabis

Goodwin on

On June 17, 2021, the Connecticut General Assembly voted to approve the Responsible & Equitable Regulation of Adult-Use Cannabis Act (the “Act”). With Governor Ned Lamont’s signature expected today, Connecticut will become...more

Rivkin Radler LLP

NY Is Set To Legalize Recreational Marijuana

Rivkin Radler LLP on

After years of fits and starts, New York has passed legislation to legalize recreational marijuana under the Marihuana Regulation and Taxation Act (S854-A) which Governor Cuomo intends to sign. The legalization aspect of the...more

Fox Rothschild LLP

First Look: New York State’s Adult-Use Cannabis Legislation

Fox Rothschild LLP on

New York will soon join its neighbor New Jersey among the most recent states to legalize adult-use cannabis. On Tuesday, March 30, 2021, the New York State Senate and Assembly voted overwhelmingly to legalize the...more

Bradley Arant Boult Cummings LLP

Medical Marijuana Money in Mississippi: Navigating the Tax Consequences of a Green Enterprise

Mississippi is on the precipice of implementing a medical marijuana regime, as Mississippians voted overwhelmingly to approve Initiative 65 last November. Those awaiting the green light should take advantage of the additional...more

McCarter & English, LLP

The Voters Have Spoken: When And How New Jersey Will Give Life To The Cannabis Market

McCarter & English, LLP on

Horticultural, retail, biotech, pharma, and other companies located in the diverse cannabis industry have long anticipated and increasingly prepared for adult-use legalization in the State of New Jersey. Two formal moves have...more

Goodwin

The Green Wave: Cannabis Legalization Sweeps in 2020

Goodwin on

It was a Green Wave on election night, with every cannabis-related legalization measure on the ballot passing, some by surprisingly large margins of victory. As a result of the November 2020 election, the number of states...more

24 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide