The Agriculture Improvement Act of 2018 (the 2018 Farm Bill) has officially been signed into law. One of the major components of this legislation of industrial hemp. This blog post will mainly focus on what the tax implications of this legalization and contrast tax differences of a federal legal hemp business versus a federally illegal business subject to section 280E. Continue reading “The 2018 Farm Bill – What it Means for Hemp Farmers’ Tax Bill”
Defending a 2017 law that set regulations for the state’s medical-marijuana industry, Florida Department of Health attorneys have asked an appeals court to overturn a circuit judge’s ruling that they say “injected confusion and uncertainty” into the licensing of marijuana firms.
The closely watched case centers on whether a law passed during a 2017 special legislative session violated a constitutional amendment that broadly legalized medical marijuana. Continue reading “Florida Fights Ruling on Medical Marijuana Law”
The rollout of statewide medical and recreational marijuana programs typically is a grindingly slow process that can take years. Not so in Oklahoma, which moved with lightning speed once voters approved medical cannabis in June.
The ballot question received 57 percent support and established one of the nation’s most liberal medical pot laws in one of the most conservative states. Six months later, the cannabis industry is booming. Continue reading “Oklahoma Quickly Becoming Medical Marijuana Hotbed”
Starting Jan. 1, Colorado will reap more tax revenue from wholesale deals involving marijuana intended to be sold to consumers after the average prices of those wholesale products rose in the latter part of 2018.
The Colorado Department of Revenue on Thursday released updated average market rates for marijuana being sold or transferred from retail cultivation centers to recreational pot shops or facilities that make retail products like hash oil and edibles. Those sales and transfers are subject to a 15-percent excise tax. Continue reading “Colorado Sees Average Price of Wholesale Marijuana Rise in Second Half of 2018”
Tilray has signed a global partnership with a division of Swiss drug giant Novartis to develop and distribute its medical marijuana in legal jurisdictions around the world.
The Canadian pot firm said Tuesday it’s reached an agreement with Sandoz to boost the availability of medical cannabis products globally, building on an existing alliance with Sandoz Canada. The two companies will work together to commercialize Tilray’s non-smokable medical marijuana offerings, co-brand certain products, develop new products and educate pharmacists and physicians about pot. Continue reading “Canadian Pot Firm Tilray Goes Global With Novartis Marijuana Deal”
America is in pain. In fact, according to the National Institutes of Health, among all U.S. adults, nearly 40 million (17.6%) report suffering from severe pain, while about 25.3 million (11.2%) complained of experiencing daily pain throughout the previous three months. Continue reading “Pain, Pain, Go Away: Cannabis and the Medical Consumer”
New Zealand’s government on Tuesday passed a law that will make medical marijuana widely available for thousands of patients over time.
The legislation will also allow terminally ill patients to begin smoking illegal pot immediately without facing the possibility of prosecution.
The measures come ahead of a planned national referendum on recreational marijuana use. The government has pledged to hold the referendum some time over the next two years, but has not yet set a date or finalized the wording. Continue reading “New Zealand Law to Make Medical Marijuana Widely Available”
The cannabis industry just announced a groundbreaking $1.7 billion megadeal with big tobacco that has the sector on the upswing this week.
Marlboro maker Altria Group (NYSE: MO), one of the largest tobacco companies in the world, announced a $1.7 billion investment in Cronos Group (NASDAQ: CRON), one of Canada’s largest cannabis companies. Continue reading “Marlboro Maker Invests $1.7 Billion in Cannabis Megadeal”
Iowa is now home to five medical marijuana dispensaries. They were approved under a law passed last March, permitting the sale of specific cannabis-derived products to those suffering from qualifying conditions including untreatable pain, side effects of cancer, seizures, ALS, and others. Continue reading “Medical Cannabis Dispensaries Have Arrived In Iowa”