by Omar Figueroa and Lauren Mendelsohn May 16, 2024 On May 16, 2024, the Biden Administration announced that the United States Department of Justice is taking the next step in the reclassification of cannabis from a Schedule I controlled substance to a Schedule III controlled substance — which would […]
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by Omar Figueroa & Lauren Mendelsohn May 2, 2024 We recently wrote that the Drug Enforcement Administration will move to reclassify marijuana as a Schedule III controlled substance. A recent update by the Congressional Research Service makes clear that rescheduling is predicted to result in significant federal tax relief […]
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by Omar Figueroa & Lauren Mendelsohn May 1, 2024 Yesterday, we wrote that the Drug Enforcement Administration is anticipated to support the reclassification of marijuana from a Schedule I to a Schedule III controlled substance. Today, the Congressional Research Service issued an updated report on the Legal Consequences of Rescheduling […]
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April 17, 2024 By Lauren Mendelsohn Yesterday, the Sonoma County Board of Supervisors voted unanimously to amend the County’s Cannabis Business Tax Ordinance to revise the tax rates imposed on different types of commercial cannabis operators. (Technically this was the first reading of the ordinance, so it will need […]
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by Omar Figueroa and Lauren Mendelsohn August 30, 2023 The U.S. Department of Health and Human Services (HHS) is suggesting that cannabis should be reclassified from Schedule I to Schedule III under federal law. This significant shift reflects the view that cannabis no longer has a high potential for abuse […]
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By Omar Figueroa and Lauren Mendelsohn March 20, 2023 Starting in 2023, the State of California is providing several tax incentives for owners of certain types of cannabis businesses. Below we will be discussing the High-Road Cannabis Tax Credit, the Cannabis Equity Tax Credit, and Vendor Compensation for qualifying equity […]
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By Lauren Mendelsohn, Esq. February 3, 2023 On January 30, 2023 the California Office of Administrative Law (OAL) approved emergency regulations related to cannabis taxes that were proposed by the California Department of Tax and Fee Administration (CDTFA). The approved rulemaking package consists of amendments to Section 3700 (Cannabis Excise […]
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By Lauren Mendelsohn November 3, 2022 Significant changes to California’s cannabis excise tax are coming soon, thanks to Assembly Bill 195 (2021-2022), a cannabis “trailer bill” which was adopted by the State legislature over the summer and signed into law by Governor Gavin Newsom on June 30, 2022. We […]
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By Lauren Mendelsohn August 15, 2022 Last week, Senate Bill 519 — which would have removed criminal penalties from certain activities associated with LSD, psilocybin, psilocyn, DMT, mescaline, ibogaine, and MDMA — was amended and gutted of all meaningful parts in a hearing before the Assembly Appropriations Committee last week. […]
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Cultivation Tax Immediately Terminated; Excise Tax Modified; and Tax Relief Provided to Certain Licensees By Lauren Mendelsohn July 1, 2022 Yesterday, California Governor Gavin Newsom signed Assembly Bill 195, a budget “trailer bill” containing various items related to cannabis, into law. Among other things, the bill makes significant changes […]
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