Blog Posts in 2019

LIVING WITH INTERNAL REVENUE CODE SECTION 280E

William C. Hitchcock, JD, LLM, EA

During the past several years, the marijuana industry has faced many regulatory challenges, but none greater than that imposed upon them by the impact of Internal Revenue Code Section 280E. This provision of the Internal Revenue Code is one of several "disallowance" provisions found in the same code section. In pertinent part, IRC Section ...

Publicly Traded Canadian Cannabis Companies and the US Risk

Charles Feldmann

Canadian publicly traded cannabis companies investing into a US federally illegal enterprise. Not smart as a foreigner. What are the risks? More than half of U.S. states have legalized some form of medical cannabis. Eleven states and counting have enacted laws authorizing recreational adult-use. Federal appropriations bills have cut funding for ...

AMERICAN BAR ASSOCIATION CALLS ON CONGRESS - HOW MUCH CLOUT DOES THE ABA CARRY FOR CANNABIS REFORM?

Charles Feldmann

The American Bar Association (“ABA”)’s Criminal Justice Section has issued a report to the House of Delegates urging Congress to enact legislation to “exempt from the Controlled Substances Act any production, distribution, possession, or use of marijuana carried out in compliance with state laws,” to remove marijuana ...

AMERICAN BAR ASSOCIATION CALLS ON CONGRESS - HOW MUCH CLOUT DOES THE ABA CARRY FOR CANNABIS REFORM?

Charles Feldmann

The American Bar Association (“ABA”)’s Criminal Justice Section has issued a report to the House of Delegates urging Congress to enact legislation to “exempt from the Controlled Substances Act any production, distribution, possession, or use of marijuana carried out in compliance with state laws,” to remove marijuana ...

CBD is on a Roll, but the FDA is Hitting the Brakes

Charles Feldmann

As the U.S. market for CBD continues to skyrocket and companies competing in the cannabis space become more developed, they are being held back by the slow federal regulatory response at the Food and Drug Administration. On Monday, July 22, the U.S. Food and Drug Administration sent a letter to Curaleaf Holdings CEO Joseph Lusardi warning that the ...

Why Legal Marijuana Does Not End The Illegal Market

Charles Feldmann

Areas that have approved the sale of cannabis still deal with a “gray market” where legal and illegal marijuana markets coexist. It is a scenario that frustrates legal cannabis businesses and law enforcement alike. The surge in cannabis policy reform across the country and world may have caused many to anticipate a heavy blow to illegal ...

GUAM ENDS PRACTICE OF SEIZING CBD PRODUCTS ENTERING THE TERRITORY

Charles Feldmann

Amidst unclear rules and regulations surrounding CBD imports, Guam has ended its extrajudicial seizure of CBD products entering the country. Governor Lou Leon Guerrero announced on Friday that the products that have been intercepted and held by the territory’s Customs and Quarantine Agency will be released. The Agency began seizing ...

What's Next for Cannabis Banking?

Charles Feldmann

The California Legislature passed Senate Bill 51 last week, allowing California state-chartered banks and credit unions to provide banking services for the states’ cannabis businesses. This legislation covers 40.02 million California residents, but will it be a powerful enough move to help sway the Senate Banking Committee and Chairman ...

Unions Blowing Smoke with "Green Lung" Myth

David Nagel and Jered Harris

Updated February 10, 2020 What is ‘green lung’? Is cultivating marijuana to blame, or something else? In case you didn’t catch the Colorado Senate Finance Committee hearing on April 18 th regarding Publicly Traded Marijuana Companies HB19-1090, the term ‘green lung’ was introduced by Randy Tiffey, of the United Food ...

From Prison to Profit

Charles Feldmann

Read Charles' new publication in The Edition here.

Social use cannabis is now permanent in Denver, opening the door for new business.

Charles Feldmann

The Denver City Council voted 10-1 in favor of lifting the 2020 sunset date on social use cannabis businesses. While it is legal to buy and consume cannabis is Colorado, there are only two businesses in Denver that will allow you to vape or consume edibles on the premises. The reason? While Colorado voters previously passed a bill to allow social ...

On Global Cannabis: Why the 50 Stars Will Triumph Over a Single Maple Leaf

Charles Feldmann

Last October, I was in Canada speaking at a convention for international lawyers just days after the country’s bold move of legalizing marijuana. Mexico is also on the path to federal legalization, and more and more countries are joining in the global end to prohibition. I wondered: Has the United States lost its opportunity to be the top dog ...