Hemp and CBD: A New Definition of Industrial Hemp and Expansion of Farmland
While the legislative process continues to mold and direct cannabis regulation (you can read more about the Cannabis bills in Sacramento here), it is also worthwhile to take stock of which hemp and CBD regulatory measures are headed towards Newsom’s desk and which measures are being left behind. SB-527 – Expanding the Availability of Cannabis […]
California Flexes on Illicit Cannabis Activities, Will it Make an Impact?
As California struggles with the woes of the illicit cannabis market – we’ve all come to realize – with regulation – comes great responsibility! To address the ongoing threat to the legitimacy of the regulated cannabis market, both the public and private sectors are on the attack. California Targets Unlicensed Operators and Weedmaps It has […]
Two Cannabis Bills Sitting on Newsom’s Desk You Should Know About
This past Friday the 13th marked the last night of session for the California Legislature. As expected, it was a busy time for elected officials, advocacy groups, and other interested parties in the cannabis industry as they tried to either push bills through to the Governor’s desk or get them amended or killed. While there were […]
Back in Session: Sacramento Legislators Look to Push Cannabis Bills Forward
After taking a few weeks off to visit their constituents back in their districts, California legislators are back in Sacramento to tackle the last few weeks of the legislative session. All bills must be passed by both houses by September 13 in order to have a chance of getting signed by Governor Newsom this year. […]
LA Update: T-minus 2 Weeks Until Phase 3 Retail – Application Details & Expansion of the Social Equity Program
A lot is moving forward in the LA Cannabis world for all verticals and Phase 3 is dangerously close and it looks like it’s going to be quite the competition. Phase 3 Procedures and Application Guidelines In preparation for the highly anticipated Phase 3, the Los Angeles Department of Cannabis Regulation (DCR) is hosting technical […]
Can You Save On Income Tax? (And Other Taxes Too!)
Written by Abraham Finberg CPA and Simon Menkes CPA As most people in the industry already know, due to Internal Revenue Code (IRC) 280E, cannabis businesses may only reduce their income with cost of goods sold (the cost of the product) to lower gross profit and save on taxes. Most tax planning involves legally increasing […]
METRC: The Transition to CCTT
As you may know, California has contracted with Metrc (Marijuana Enforcement Tracking Reporting Compliance) as the state’s track-and-trace system for purposes of tracking commercial cannabis activity from “seed-to-sale”. Since contracting with Metrc in 2017, the State and its operators have been struggling to understand and comply with Metrc regulations. In reality, the slow rollout of […]
Elizabeth Warren and Her Stance on Cannabis
As American citizens, it is our civic duty to educate ourselves and participate in our democracy. With 20+ Democratic presidential candidates, Manzuri Law knows firsthand just how difficult choosing a candidate is. We will be updating you as the race to 2020 continues in hopes of helping cannabis stakeholders and consumers alike make an informed […]
Navigating the BCC’s “Change of Ownership” Rules
In The Art of Selling a Cannabis Business, we covered how to address some of the hurdles involved in selling a cannabis business. Arguably the single most important hurdle is complying with “change of ownership” rules. Indeed, navigating the convoluted “change of ownership” rules under the Bureau of Cannabis Control (BCC) can make or break a deal. […]
Another Era of Licensing – CBD and Hemp Applications are Now Available
The U.S. imports about $800 million worth of hemp to be used for its fiber, seed, and oil. Other countries are already using industrial hemp to make a variety of products, including insulation, energy-efficient construction materials, durable fabrics, plaster, plastic, and flooring. Among the biggest foreign growers are Canada and China. With California eager to be […]