A New Jersey appellate court lifted a 2019 order preventing the state from issuing an additional 24 medical cannabis licenses. The decision could allow for expansion of the medical marijuana industry in the state, perhaps before the launch, potentially…
Author: Amy Hansen
California medical cannabis dispensary owes $4.2 million, US Tax Court rules
A subsidiary of California-based cannabis retailer Harborside must pay nearly $4.2 million in back taxes and penalties after losing a case in U.S. Tax Court. The Tax Court determined in a decision issued Wednesday that San Jose Wellness, the Harborside…
Marijuana foes deploy new ‘playbook’ to thwart state legalization, upend election results
Efforts to thwart voter-approved marijuana legalization in Mississippi, Montana and South Dakota are evidence of a “playbook” that reflects new legal strategies and greater willingness among local government officials to nullify election results, exper…
Report: Ex-Eaze CEO to be charged in cannabis payment-processing scheme
Federal prosecutors reportedly plan to charge a former CEO of California cannabis delivery platform Eaze in connection with a case accusing two businessmen of deceiving banks into processing $100 million worth of credit and debit payments for marijuana…
Biden’s DOJ lawyers take IRS side in marijuana firm’s 280E fight
The Biden administration has weighed in on a U.S. Supreme Court marijuana petition, arguing that state-legal cannabis businesses can be investigated by the Internal Revenue Service for potential violations of Section 280E of the tax code. It is believe…
JW Asset, ex-athlete launch $100M fund for marijuana minority businesses
New York fund manager JW Asset Management is teaming up with former NBA All-Star Chris Webber to launch a planned $100 million private equity fund that will invest in underrepresented marijuana entrepreneurs. A spokeswoman said $100 million is the fund…
Tuatara-backed SPAC raises $175 million to target cannabis acquisitions
Tuatara Capital Acquisition, a cannabis-focused special purpose acquisition company (SPAC), said it raised $175 million in an initial public stock offering with an option for its underwriters to purchase and sell an additional $26.3 million worth of se…
New Mexico adult-use marijuana bill advanced by state House panel
A New Mexico legislative committee Monday advanced a social equity and microbusiness-focused adult-use marijuana legalization bill while tabling a more industry-oriented measure. The early step indicates what direction the Legislature appears to be hea…
South Dakota AG abandons effort to defend adult-use marijuana initiative
The South Dakota Attorney General’s Office is dropping its defense of a voter-approved adult-use marijuana amendment after earlier asserting in court that the initiative was constitutional. The AG’s decision comes after a circuit court judg…
Marijuana company Dixie sued for alleged patent infringement
A Texas company is suing Denver-based marijuana infused products maker Dixie Brands for allegedly unlawfully using a patented technology as a store locator on its website. Geographic Location Innovations, based in a Houston suburb, filed suit against D…