Considerations for Out-of-State Hemp Businesses Concerning Florida’s New Hemp Legislation
Mr. Cannabis Law
by Dani Haskin
1w ago
The Florida Legislature recently approved Senate Bill 1698 to regulate hemp products in the state and sent it to Governor Ron DeSantis’ desk for signature. The bill amends and adds to Section 581.217, Florida Statutes–the statute governing the state hemp program. The bill imposes strict THC limits on hemp extract products while banning certain cannabinoids altogether.    Specifically, the bill provides that the amount of THC in hemp extract products cannot exceed 5 milligrams per serving or 50 milligrams per container; and it prohibits the sale of products containing delta-8 THC, and ..read more
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How Can Florida Hemp Businesses Remain Viable Under Restrictive New Hemp Legislation?
Mr. Cannabis Law
by Rodger Reiter
1w ago
Florida’s hemp industry could soon change drastically under new legislation which poses an enormous threat to businesses selling hemp products in the state. Despite significant pushback from industry stakeholders, the Florida Legislature recently approved a bill to regulate hemp-derived products and altogether eliminate delta-8 THC products–some of the most popular products sold by hemp retailers in recent years. Senate Bill 1698, which has been sent to Governor Ron DeSantis’ desk for signature, provides that the amount of THC in hemp-derived products cannot exceed 5 milligrams per serving or ..read more
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Ohio Regulators Release First Batch of Adult-Use Licensing Regulations
Mr. Cannabis Law
by Rodger Reiter
1M ago
Nearly three months after Ohio voters approved Issue 2 in November 2023, effectively legalizing adult-use cannabis in the state, cannabis regulators released a small set of proposed rules for Ohio’s adult-use market, focusing on requirements for certain applicants seeking to become licensed retailers. These proposed rules, which are the first in what is expected to be multiple batches of rules for Ohio’s new adult-use cannabis program, contain proposed fees for various business licenses, details on how the application process would work, and information on how medical cannabis businesses could ..read more
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What Rescheduling Marijuana Means for R&D Tax Credit
Mr. Cannabis Law
by Rodger Reiter
2M ago
We recently posted a blog on the FAQ’s around HHS’s letter to the DEA recommending rescheduling marijuana to Schedule III. In that blog, we explained that the biggest impact of rescheduling is that Section 280E would no longer apply to state-authorized marijuana companies. Most people think of Section 280E only in the context of deductions. However, removing the application of Section 280E also opens the door for state-authorized marijuana companies to use the R&D Tax Credit, which could provide a significant reduction in tax liability and foster innovation within marijuana industry. The R ..read more
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Minnesota Became the 23rd State to Legalize Adult-Use MJ Last May
Mr. Cannabis Law
by Rodger Reiter
2M ago
Marijuana is now legal for adults 21 and older to possess and use in Minnesota, as the state became the 23rd in the country to legalize marijuana for adult use in May of last year. In 2022, Minnesota legalized the sale and consumption of edibles containing small amounts of hemp-derived THC. Then, on May 30, 2023, Minnesota Governor Tim Walz signed an expansive cannabis legalization bill into law, allowing the adult use of cannabis for adults 21 and older beginning on August 1, 2023. The legislation allows Minnesotans 21 and older to possess and use certain amounts of cannabis and cannabis prod ..read more
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South Florida Business Journal 40 Under 40
Mr. Cannabis Law
by Dani Haskin
3M ago
South Florida Business Journal 40 Under 40 As many of our subscribers know, the Business Journal kicks off the month of December by highlighting some of our most-read stories and features of the year. The capper to this online series is our annual Photos of the Year Feature, which we always publish in our final print edition of the year. These images are snapped by the SFBJ’s award-winning Visual Journalist, Jock Fistic. And as you review the photos, you’ll note how we’ve included portraits of executives, new structures and venues, and of the SFBJ’s popular awards events. …. The post ..read more
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Arizona Awarding $5M in Grant Money for Psilocybin Clinical Trials
Mr. Cannabis Law
by Rodger Reiter
3M ago
An Arizona Psilocybin Research Advisory Council (the “Council”), which was established under the Arizona Department of Health Services (ADHS) as part of a large-scale budget bill that the governor signed in May, was set to meet for the first time on Tuesday, November 28th, to start the process of providing millions of dollars of grant funding to support research into the therapeutic potential of psilocybin mushrooms. In less than a month’s time, officials plan to open an application period for potential grant recipients. The state legislature has appropriated $5 million for psilocybin research ..read more
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Ohio Issue 2 Legalizing Adult-Use Marijuana Passes
Mr. Cannabis Law
by Rodger Reiter
3M ago
Ohio became the 24th state to legalize marijuana for adult use, on Tuesday, November 7th, when voters in the state approved Ohio Issue 2. The new law authorizes and regulates the cultivation, processing, sale, purchase, possession, home grow, and use of adult use cannabis by adults at least 21 years of age. It allows the sale and purchase of marijuana, which a new Division of Cannabis Control would regulate; allows adults who are 21 years of age and older to use and possess marijuana, including up to 2.5 ounces of marijuana and 15 grams of marijuana concentrate, and to grow up to six cannabis ..read more
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How Delta-8 Companies Can Mitigate Impact of 280E IRS Audit
Mr. Cannabis Law
by Rodger Reiter
3M ago
The Drug Enforcement Administration (DEA) has taken the position that Delta-8 tetrahydrocannabinol (THC) and other cannabinoids synthetically derived from cannabidiol (CBD) are categorized as Schedule I substances under the Controlled Substances Act (CSA). Arguably, the DEA is misinterpreting the 2018 Farm Bill, which authorized the production of hemp and removed hemp from the list of controlled substances. The 2018 Farm Bill defines hemp as “the plant Cannabis sativa L. and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts ..read more
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New York Law Journal – “The Highs and Lows of New York’s Cannabis Market”
Mr. Cannabis Law
by Dani Haskin
6M ago
New York Law Journal – “The Highs and Lows of New York’s Cannabis Market” The New York cannabis industry is at a fascinating and precarious point in its development. Hundreds of provisionally licensed cannabis dispensaries under the state’s CAURD program are now in jeopardy of opening. In the case of Caroline Fiore v. New York State Cannabis Control Board, Superior Court Judge Kevin Bryant issued a restraining order preventing these provisionally licensed dispensaries from opening…. The post New York Law Journal – “The Highs and Lows of New York’s Cannabis Market” appeared first on Mr ..read more
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