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Featured Articles

Entity structure considerations for MSOs

Entity structure considerations for MSOs

Multi-state operators may need to weave a complex web when it comes to corporate structure. Operators entering new jurisdictions must consider many factors, the most significant being tax exposure, licensing restrictions, and potential exit scenarios as they determine...

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Featured Articles

Mississippi Becomes the 37th State to Legalize Marijuana

Mississippi Becomes the 37th State to Legalize Marijuana

Governor Tate Reeves (R) of Mississippi signed legislation to legalize medical cannabis into law. Mississippi is now the 37th state in the country to adopt an effective medical cannabis law. “With this victory, tens of thousands of Mississippians with debilitating health conditions will finally be able to safely and legally access something that can alleviate their pain and improve their quality of life. Mississippi now serves as the latest example that medical cannabis legalization is possible in any state in the country. We are hopeful that this move will add to the growing momentum towards cannabis policy reform in the South,” said Toi Hutchinson, president, and CEO of the Marijuana Policy Project. The Mississippi Medical Cannabis Act will allow registered patients with qualifying conditions to safely access and use medical cannabis with a doctor’s recommendation. You can find a summary of the new law here. “Despite tremendous support, Mississippians faced an uphill battle for a medical cannabis program. With this new law, justice has finally prevailed. Patients in Mississippi who are seriously ill will no longer be subject to arrest and criminal penalties for using medical cannabis and instead will be met with compassion.

AZ Marijuana, 02/07/2022 02:02:00

Open article: https://azmarijuana.com/arizona-medical-marijuana-news/mississippi-becomes-the-37th-state-to-legalize-marijuana/

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What’s the Future of Marijuana Legalization in Oklahoma?

What’s the Future of Marijuana Legalization in Oklahoma?

There are currently three ballot initiatives and dozens of marijuana-related bills pending in Oklahoma. Oklahomans for Responsible Cannabis Action (ORCA), the same group responsible for drafting the successful 2018 medical initiative, is seeking to place two initiatives on the ballot this fall. SQ 818, known as the Oklahoma Medical Marijuana Enforcement and Anti-Corruption Act, seeks to expand and revise the state’s medical cannabis program. The measure establishes a new state agency, the Oklahoma State Cannabis Commission (OSCC), to replace the Oklahoma Medical Marijuana Authority and oversee all responsibilities specific to marijuana and hemp. It replaces existing excise taxes on medical cannabis products with a 7 percent retail tax, with revenue supporting marijuana research, rural impact and urban waste remediation, agriculture development, mental health response programs, substance misuse treatment, and more. SQ 819, known as the Oklahoma Marijuana Regulation and Right to Use Act, legalizes the possession of up to eight ounces of marijuana for those aged 21 and older. Adults may either purchase cannabis from state-licensed retailers or home cultivate up to 12 plants of cannabis. (Those who grow at home may legally possess the total yield of their plants).

NORML, 02/06/2022 19:00:00

Open article: https://norml.org/blog/2022/02/07/whats-the-future-of-marijuana-legalization-in-oklahoma/

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Senate Majority Leader Provides Timeline for Introducing Long-Awaited Marijuana Descheduling Plan

Senate Majority Leader Provides Timeline for Introducing Long-Awaited Marijuana Descheduling Plan

US Senate Majority Leader Chuck Schumer announced at a press conference on Friday that he intends to formally introduce the Cannabis Administration and Opportunity Act (CAOA) in April. The forthcoming legislation, which was released in draft form last July, repeals federal marijuana prohibition by removing cannabis from the US Controlled Substances Act. Speaking at the event, Sen. Schumer said: “In the coming weeks, we’re ramping up our outreach and we expect to introduce final legislation. Our goal is to do it in April. Then we begin the nationwide push, spearheaded by New York, to get the federal law done. As the majority leader, I can set priorities. This is a priority for me.” NORML’s Political Director Morgan Fox responded: “We are enthusiastic that the Senator is moving forward on his promise to prioritize cannabis policy reform in the 117th Congress. It is our hope that the official introduction of CAOA jumpstarts hearings and debates in the Upper Chamber — debates that are long overdue.” In past months, Senate leadership has received criticism for both the slow rollout of the CAOA and for failing to support efforts to enact more incremental federal legislation, such as The SAFE Banking Act, which has

NORML, 02/06/2022 19:00:00

Open article: https://norml.org/blog/2022/02/07/senate-majority-leaders-provides-timeline-for-introducing-long-awaited-marijuana-descheduling-plan/

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Top Financial Regulator Says Marijuana Sector Has Bright Future

Top Financial Regulator Says Marijuana Sector Has Bright Future

In an interview with PBC conference, Rodney Hood, a financial regulator and board member National Credit Union Administration (“NCUA”), said that the marijuana sector has a bright future once it is fully legalized and infrastructure is set in place. During the interview, Hood suggested ways to deal with federal regulations that have seen banking institutions backing out on working with marijuana businesses. Despite more states legalizing marijuana for recreational and medical use, the industry has not received backing from the financial services sector. This reluctance is due to the influence of federal prohibition on the sector. Aside from that, rural markets provide an opportunity for cannabis businesses. With urban centers usually considered as the prime target market, rural communities get overlooked. That could change if Congress passes reform legislation that protects banks that work with cannabis businesses from facing penalties as a result of financial regulations. The Secure and Fair Enforcement Banking Act, also referred to as SAFE Banking Act, is seen by many as a way to improve business efficiency in the cannabis industry with its intention of availing protected banking services.

CannabisNewsWire, 02/07/2022 04:20:00

Open article: https://www.cannabisnewswire.com/420-with-cnw-top-financial-regulator-says-marjuana-sector-has-bright-future/

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Michigan marijuana market evolves on different fronts

Michigan marijuana market evolves on different fronts

It has been a remarkably smooth and successful ride for Michigan’s cannabis industry, and regulators hope to keep it that way as the growing network of suppliers and sellers face an inevitable period of consolidation and stubborn competition from old-school street dealers who do not share their overhead and red-tape burdens. The state Marijuana Regulatory Authority (MRA) said average monthly revenue from medical and recreational sales grew more than 50 percent in 2021, reaching $168 million for just the month of December, including a record $135 million in recreational sales. July was the most lucrative month with sales of $171 million. Recreational sales increased 16 percent in the second half of 2021 while medical sales were down some 23 percent compared to the same period in 2020. The 10 percent state excise tax on recreational sales has proven to be a nice payoff for a state that has not had a lot of economic victories for the past few decades. But the excise tax is just one component of the overhead that adds to the price of store-bought weed supplies.

420 Intel – Marijuana Industry News, 02/06/2022 19:00:00

Open article: https://420intel.com/articles/2022/02/07/michigan-marijuana-market-evolves-different-fronts

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Cannabis-based epilepsy medicine Epidyolex approved for use on Scottish NHS

Cannabis-based epilepsy medicine Epidyolex approved for use on Scottish NHS

Scottish epilepsy patients as young as two could be given new cannabis-based medication today approved for use on the NHS. Health bosses have given the green light to Epidyolex, which can help treat the symptoms of a rare genetic disease affecting around one in 10,000 people. Tuberous sclerosis complex (TSC) causes tumors to grow in the body and around 80% of patients develop epilepsy from it, typically in their first year of life. Additionally, for the majority of people, their condition doesn’t respond to standard anti-seizure medication – making today’s Scottish Medical Consortium decision a potential game-changer. Scotland has become the second UK nation to approve the oral solution for use, following Wales. Medication ‘desperately needed’ for families Louise Fish, the chief executive of the Tuberous Sclerosis Association, says life could now be very different for those with the debilitating condition. “TSC is often difficult to manage condition… and up to 60% of people with TSC-related epilepsy do not respond to standard anti-seizure medication,” she said. “New treatment options are desperately needed, and we are delighted that this medicine will now be available on the NHS for eligible patients in Scotland.

420 Intel – Marijuana Industry News, 02/06/2022 19:00:00

Open article: https://420intel.com/articles/2022/02/07/cannabis-based-epilepsy-medicine-epidyolex-approved-use-scottish-nhs

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