Maryland's Sales Tax on IT and Data Services
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Avoiding Tax Consequences During Oil & Gas Restructurings
Since January, California officials have seized more than $316 million worth of illegal cannabis and $474,000 in cash through coordinated enforcement actions with state agency partners and local governments....more
Cannabis companies are increasingly taking non-280E positions on their current year federal income tax returns, while many, such as public “MSOs,” have amended prior years’ returns to reflect this position. Foley Hoag’s Tax...more
In an industry known for its fast-paced changes, 2024 will be no different for cannabis. For all those with an eye on the industry, the number one question remains, is this the year for rescheduling? The answer is, maybe. And...more
The budding cannabis industry, despite its rapid growth and gradual acceptance in recent years, still faces a major sustainability challenge: Cannabis businesses cannot deduct most ordinary business expenses. Under Internal...more
Unlike so many other state cannabis laws that impose separate and distinct regulatory frameworks for hemp and cannabis, Minnesota’s newly enacted recreational cannabis law (“Adult-Use Act”) incorporates hemp-derived...more
If you give me an opportunity to quote George Harrison, I’m going to do it. In “Taxman,” he wrote: Should five percent appear too small Be thankful I don’t take it all ‘Cause I’m the taxman - I suspect “The Quiet One”...more
The New York cannabis rush is here, and with the release of more license categories on the horizon, cannabis entrepreneurs are (hopefully) busy preparing for the upcoming historical licensing round. To beat the summer...more
Help for California’s fledgling cannabis industry finally appears to be on the way. For years, the industry has shouldered heavy taxes – a 15% state-wide excise tax, sales and use taxes up to 10.75%, and local business...more
The New York State Office of Cannabis Management hosted a “Get Ready, Get Set,” workshop to provide community members with vital information about the Marijuana Regulation and Taxation Act (MRTA) and the conditional adult use...more
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
In what appears to be a win-win for the city and cannabis businesses, the City of Northampton announced it is dropping the 3% community impact fee it collects from marijuana establishments and medical marijuana treatment...more