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Aug 28, 2019

NCUA Issues Banking Guidelines for Hemp Businesses

While the SAFE Banking Act remains in limbo, the hemp industry received some long overdue good news regarding banking cannabis businesses from the National Credit Union Administration (“NCUA”) with the release of interim guidelines that allow credit unions to provide banking services, including loans, to legally operating hemp businesses. » Read More

Mar 01, 2019

Once Again, the Tenth Circuit Says “Yes” to Cost of Goods Sold and “No” to Business Expense Deductions for Cannabis Businesses

The recent Tenth Circuit decision of Feinberg v. Commissioner of Internal Revenue reminds cannabis businesses that as long as marijuana remains a Schedule I controlled substance under federal law, they will not be permitted to take deductions for business expenses.  However, these businesses may still reduce their gross income by their cost of goods sold (COGS). » Read More

Aug 29, 2018

Check Your Local Listings: Local Laws Are Just as Important as State and Federal When Starting a Marijuana Business

In my last post, I discussed how there can be federal barriers preventing certain businesses from entering the cannabis industry, despite state legalization.  Here, we discuss the importance of considering local laws.

Just like other businesses, one of the biggest, and most important, challenges a cannabis business may face is identifying a suitable location to operate. » Read More

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