News & Analysis as of

Marijuana Related Businesses Controlled Substances

Clark Hill PLC

Leveraging and Protecting Cannabis Brands Following CSA Rescheduling

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This is an exciting time for cannabis entrepreneurs as the US government is poised to reclassify cannabis as a Schedule III drug in a move that recognizes cannabis’ medical and therapeutic uses and may open the door for new...more

Seyfarth Shaw LLP

Reefer Madness – TTAB Dismisses Opposition Because Cannabis Company Lacked Bona Fide Intent To Use Its Mark

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As the prospect of federal rescheduling of cannabis looms, some in the industry are seemingly attempting to preserve their spot in line at the United States Patent and Trademark Office. A recent Trademark Trial and Appeal...more

Troutman Pepper

Cannabis Rescheduling: Closing of the Comment Period and What Lies Ahead

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The proposed rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA) marks a pivotal moment in the evolution of U.S. cannabis policy but may bring few practical changes to...more

Troutman Pepper

The Impact of Cannabis Rescheduling on State Laws and Regulations: Insights From CANNRA

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In May, the U.S. Department of Justice (DOJ) issued a notice of proposed rulemaking to transfer cannabis from Schedule I to Schedule III of the Controlled Substances Act (CSA), a change that could significantly affect current...more

Rivkin Radler LLP

Tax Considerations and the Reclassification of Marijuana – We’re Not There Yet

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Having been swept along for nine days “by the force of the hostile winds on the fishy sea,” Odysseus and his crew came to a strange land. After securing their ships, Odysseus sent some of his “companions ahead, telling them...more

International Cannabis Bar Association...

[Event] Cannabis Law Institute 2024 - July 25th - 26th, Chicago, IL

The International Cannabis Bar Association (INCBA) is thrilled to announce the highly anticipated Cannabis Law Institute 2024 (CLI 2024), the marquee conference dedicated to advancing legal excellence in the rapidly evolving...more

Bradley Arant Boult Cummings LLP

It Ain’t Over ‘til It’s Over: IRS reminds Taxpayers That Section 280E Applies to Marijuana Companies Until Rescheduling Becomes...

While marijuana advocates celebrate the potential rescheduling of marijuana from Schedule I to Schedule III, the taxman has made clear that marijuana remains a Schedule I substance subject to Section 280E of the Internal...more

Benesch

Cannabis Industry Quarterly Update: Q2 2024

Benesch on

Biden administration formally proposes moving marijuana to Schedule 3 - Attorney General Merrick Garland has proposed reclassifying marijuana to Schedule III of the Controlled Substances Act, following President Biden's...more

Troutman Pepper

Bridging Federal and State Cannabis Laws: Understanding the Impact of Proposed Changes and North Carolina’s Legislative Actions

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Among the two most widely reported federal changes to cannabis regulation are the Department of Justice’s (DOJ) proposed regulation for the federal rescheduling of marijuana (the Proposed Rescheduling) and amendments to the...more

Pillsbury Winthrop Shaw Pittman LLP

Implications of the U.S. DOJ’s Proposed Rescheduling of Marijuana

A shift to Schedule III would bring the cannabis industry one step closer to true legitimacy. A Schedule III reassignment would allow marijuana companies to take ordinary business deductions, notably increasing the...more

Mayer Brown

Bill & Ted’s Excellent Legislation: 2024 Cannabis Tax Developments

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In 1989’s Bill & Ted’s Excellent Adventure, Keanu Reeves plays a stoner who gets caught up in historical shenanigans. By 2014, Mr. Reeves progressed past his teenage high jinks to become a James Bond-like action hero in his...more

Bradley Arant Boult Cummings LLP

White Smoke: Habemus Proposed Rule Making on Marijuana Rescheduling!

The long-awaited, and recently leaked, news that DEA would begin the process of rescheduling marijuana from Schedule I to Schedule III became a reality yesterday when DEA issued a formal notice of proposed rulemaking. As we...more

Foley Hoag LLP

It’s Official: Biden Administration Publishes Proposed Rule to Reschedule Cannabis

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May 16, 2024, could be the most historic day in the history of state-legal cannabis. The Biden administration has published a Proposed Rule to Reschedule cannabis from Schedule I to Schedule III, which has far-reaching...more

Sheppard Mullin Richter & Hampton LLP

Bridging the Gap: Cannabis Rescheduling to Align Policy with Research

In a much-anticipated move, sources recently reported that the Drug Enforcement Administration (“DEA”) will recommend rescheduling cannabis from a Schedule I substance to a Schedule III substance under the federal Controlled...more

Epstein Becker & Green

Federal Update on Cannabis Scheduling: Are State Legalized Cannabis Dispensaries to Become Pharmacies?

A major update in cannabis law was announced by the Drug Enforcement Administration (DEA) and Attorney General (AG) this past Tuesday, April 30, 2024 regarding their intent to ease restrictions on cannabis. The DEA plans to...more

Akerman LLP

DEA Breaks Silence on Reclassification of Marijuana, Proposing Move to Schedule III

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After months of anticipation following the U.S. Department of Health and Human Services' recommendation to reschedule marijuana from a Schedule I to a Schedule III controlled substance, we finally have insight into the...more

Harris Beach PLLC

DEA Seems Set to Reclassify Cannabis, Help Legal Marijuana Businesses

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In a boon to the cannabis industry, the federal government is reclassifying cannabis and easing federal restrictions on the drug, according to news reports. The Drug Enforcement Administration will approve a recommendation...more

Seyfarth Shaw LLP

Budtender Bankruptcy Blindside

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In a recent legal development that underscores the intricate interplay between federal bankruptcy law and the cannabis industry, a court case has emerged involving a bankruptcy filing by an employee of a cannabis company....more

Troutman Pepper

Preparing for IRS Cash Transaction Reporting in the Cannabis Industry

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The various forms of information reporting required by the Internal Revenue Code form the backbone of both voluntary compliance with tax laws and the starting point for audits by the Internal Revenue Service (IRS). One form...more

Benesch

Is There a Shortcut to Cannabis Rescheduling?

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In the next 2 months or so, the Drug Enforcement Agency (DEA) is likely to announce that it will reschedule cannabis under the Controlled Substances Act (CSA) from a Schedule I highly dangerous and addictive drug with no...more

Benesch

Cannabis Predictions for 2024

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It’s 2024, and while nothing ever stays the same in the world of cannabis, in a lot of ways, 2024 feels just like 2023, and 2022....more

Troutman Pepper

How Cannabis Cos. Are Adapting in Shifting Bankruptcy Arena

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Although the possession and sale of cannabis remain federally illegal under the Controlled Substances Act, the U.S. Department of Justice has largely exercised a general policy of nonprosecution for state-regulated cannabis...more

Benesch

2024: Another Big Year for Cannabis in Ohio and Beyond

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2023 was a big year for cannabis and Ohio continues to be center stage for cannabis as the state looks to shape the future of its adult-use recreational cannabis program. With Issue 2 passing in November, Ohio became the...more

Troutman Pepper

Federal Courts and Cannabis Disputes: A New Perspective from Bartch v. Barch

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On February 1, 2024, Senior United States District Judge R. Brooke Jackson of the United States District Court for the District of Colorado denied Mackie A. Barch (Mackie) and Trellis Holdings Maryland, Inc. (Trellis and...more

Burns & Levinson LLP

An Introduction to Rescheduling Realities

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For many, the most exciting prospect in the cannabis industry for 2024 is the possibility of rescheduling cannabis from a Schedule I controlled substance to Schedule III under the Controlled Substances Act (as amended and in...more

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