Now that the dust is starting to settle on the recent news that the U.S. Department of Health and Human Services (HHS) has recommended to the U.S. Drug Enforcement Agency (DEA) that marijuana be moved from Schedule I to Schedule III under federal law, it is important to understand the implications of rescheduling marijuana and
“I’m tellin’ ya, don’t believe the hype.”
– The Reytons, On the Back Burner
Advocates of the SAFE Banking Act – who by now must be feeling a little like Charlie Brown trying to kick the football – were dealt another setback last week. The beleaguered proposal finds itself simmering in committee just in time
For at least the past decade, federal bankruptcy courts have routinely prohibited cannabis businesses from seeking protection under federal bankruptcy law, regardless of whether a cannabis business is legally operating under state law. The reason is that cannabis remains illegal under the federal Controlled Substances Act (CSA), which, in addition to criminalizing the direct growing
If you give me an opportunity to quote George Harrison, I’m going to do it. In “Taxman,” he wrote:
Should five percent appear too small
Be thankful I don’t take it all
‘Cause I’m the taxman
Yeah, I’m the taxman
I suspect “The Quiet One” would be appalled to know the taxes facing
Bob Seger’s “Against the Wind” is an anthem to love and growing old. Among its many great lines is “wish I didn’t know now what I didn’t know then.” Can you tell I recently turned 40?
But I write today not about what I wish I didn’t know, but about what I wish I did
I’m not proud of it, but I’m the resident cynic amongst the editorial staff here at Budding Trends when it comes to federal marijuana reform. And after all, someone has to temper the frivolous whims of others. But we’re coming off the holiday season where I told two growing children that if they did not
As the midterm elections come to an end, we revisit the future of the SAFE Banking Act and the hurdles we expect to see in the coming Congressional term. If passed, the SAFE Banking Act would remove uncertainties surrounding federally regulated financial institutions, allowing financial institutions to bank the legal cannabis industry with less legal
Yesterday, President Joe Biden made two historic announcements which he described as steps to “end” the federal government’s “failed approach” to marijuana. First, he is issuing mass pardons for federal convictions of simple marijuana possession and has encouraged governors to do the same for state-level marijuana offenses. Second, President Biden ordered Secretary of Health and
When people learn that you are a cannabis attorney, there are a range of reactions. Nervous laughter bordering on incredulity may be most common. Another common reaction is the sentiment that investing in cannabis is a license to print money. Spoiler alert: This is not the case.
Consider this a public service announcement – one
With apologies to Ben Franklin and others, nothing is more certain if you operate a cannabis company than your need for access to banking services and insurance (FWIW, the death and taxes part is probably also the case). This is true (1) as a practical matter and (2) often a legal requirement.