Cannabis & Craft Beer Blog

The rescheduling of certain cannabis products to Schedule III represents a meaningful shift in federal cannabis policy and offers long-awaited tax relief for portions of the industry. However, the benefits are limited in scope, leaving recreational operators subject to the continued constraints of Section 280E. Additionally, critical questions—such as the ability to obtain retroactive relief—remain unresolved. Until regulatory and IRS guidance provides greater clarity, cannabis businesses and their advisors should carefully evaluate their tax positions and compliance strategies in light of this evolving landscape.

New rules regulating the Ohio Medical Marijuana Control Program became effective on September 8^th.  These recently finalized rules can be found in Ohio Administrative Code (“OAC”) Sections 3796:3, 4, 6, 7, 8 (http://codes.ohio.gov/oac/). 

In the previous part of this two-part series, we discussed five special considerations that should be contemplated by emerging medical marijuana companies and their investors. In this post, we will cover the remaining five risk factors that should be disclosed in the company’s private offering materials, which consist of the following:

In this first post of a two-part series, we will examine five of the ten important risk factors that should be considered by medical marijuana companies and their investors.

The old real estate adage “location, location, location” takes on new meaning in the context of the medical marijuana industry. 

In the recently enacted Medical Marijuana Control Program, the Ohio legislature provided municipalities with the authority to limit or prohibit, effectively “zone-out”, local medical marijuana operations.

On Tuesday August 1^st, Senator Corey Booker (D-NJ) introduced the Marijuana Justice Act – legislation that would decriminalize marijuana at the federal level. The bill would remove marijuana from Schedule I of the Controlled Substances Act, and therefore eliminate the need to rely on the “Cole Memo” to resolve the tension between states that have legalized marijuana – either in medicinal or recreational forms – and the federal government, which still treats possession and distribution of marijuana in any form as a felony.

The State of Ohio Board of Pharmacy just released its draft dispensary districts. As you’ve probably heard, medical cannabis is roughly a year away from becoming reality in Ohio, and this step provides some initial insight into where a patient might be able to obtain medical cannabis with a physician’s prescription.