News & Analysis as of

Marijuana Related Businesses Reporting Requirements

Husch Blackwell LLP

Cannabis Law Now Podcast: Cannabis Companies and the Corporate Transparency Act

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The Corporate Transparency Act (CTA) seeks to increase corporate transparency and combat financial crimes in the U.S. such as money laundering and terrorist financing. Enacted in January 2021 as part of the National Defense...more

Troutman Pepper

Key Regulatory Changes in Colorado’s Marijuana Industry – What Businesses Need to Know

Troutman Pepper on

Just before the close of the Colorado legislature’s 2024 session, lawmakers approved a bill aimed at streamlining several deficiencies in the state’s regulation of marijuana businesses. While not all the bill’s intended fixes...more

Troutman Pepper

Preparing for IRS Cash Transaction Reporting in the Cannabis Industry

Troutman Pepper on

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

Fox Rothschild LLP

IRS Issues New Guidance for Cannabis Companies That Receive Over $10K in Cash

Fox Rothschild LLP on

The IRS’s Office of Chief Counsel recently published a memorandum providing information for cannabis companies struggling to comply with the completion of Form 8300, which must be filed every time a company receives a cash...more

Seyfarth Shaw LLP

The Corporate Transparency Act is Here

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It’s already February, the holidays are over, and compliance with the Corporate Transparency Act (“CTA”) is on everyone’s mind....more

Troutman Pepper

The Corporate Transparency Act and Its Connection to Cannabis

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I. Introduction - Effective on January 1, 2024, the Corporate Transparency Act (CTA) will require all nonexempt entities to report certain identifying information of its beneficial owners (as defined below) and company...more

ArentFox Schiff

Form 8300: When To File and What To Do With Cannabis Business Cash

ArentFox Schiff on

Cannabis businesses that regularly transact in cash need to strongly consider creating an internal policy to ensure that the Form is regularly completed and filed. The cannabis business is busier than ever and with all of...more

Foley Hoag LLP - Cannabis and the Law

What Cannabis, Hemp, and CBD Companies Need to Know about the PACT Act

Vape product sellers face a new legal landscape after Congress recently expanded the Prevent All Cigarette Trafficking (“PACT”) Act to cover vaping devices. The amendments to the PACT Act came in the waning days of 2020 as a...more

Stinson LLP

Missouri Financial Institutions Must Prepare for Impending Marijuana Banking Challenges

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In November 2018, Missouri voters passed Amendment 2, setting in motion state regulated medical marijuana. Over the last month, the Missouri Department of Health & Senior Services (DHSS) began approving license applications...more

Fisher Phillips

Your Comprehensive Guide to 2018 Proposed California Legislation

Fisher Phillips on

February 16 was the deadline to introduce new bills in the California Legislature. By that date, nearly 2,200 bills were introduced. While that may seem like a staggering amount of legislative proposals (especially for a...more

Blake, Cassels & Graydon LLP

Federal Government Proposes Excise Duties for Cannabis Producers

On November 10, 2017, the federal department of finance issued long-awaited legislative and regulatory proposals for the taxation of cannabis. Effectively, the proposed rules will place cannabis producers within the existing...more

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