News & Analysis as of November 17, 2024

Internal Revenue Service

+ Follow

Medical Marijuana refers to the use of marijuana to treat or alleviate symptoms of certain illnesses. A growing number of states permit individuals to use marijuana on the recommendation of a physician. Despite state laws to the contrary, Federal law still prohibits the use or possession of marijuana. The conflict between state and federal law on this issue has created interesting enforcement issues and significant legal hurdles for medical marijuana providers. less -

The DEA’s Rule to Reschedule Cannabis to Schedule III: Process and Timeline

Foley Hoag LLP - Cannabis and the Law on 5/14/2024

On April 30, 2024, the Associated Press (AP) reported the Drug Enforcement Administration (DEA) will propose a rule to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA). More...more

Historic Shift in U.S. Drug Policy: DEA Proposes to Reclassify Marijuana

Lowenstein Sandler LLP on 5/6/2024

The U.S. Drug Enforcement Administration (DEA) is on the brink of reclassifying marijuana, marking a watershed moment in American drug policy. For decades, marijuana has been classified as a Schedule I drug, alongside...more

DEA Reschedules Marijuana

Bricker Graydon LLP on 5/1/2024

After a recommendation from the US Department of Health and Human Services, and after more than 50 years, the DEA decided to reschedule marijuana from Schedule I to Schedule III under The Controlled Substances Act (CSA)....more

Psychoactive Sanctuary: Religious Attempts to Circumvent the CSA

Frantz Ward LLP on 5/23/2023

Some scholars say early spiritual practices regularly involved sacraments that elicited psychedelic experiences. See, e.g., Brian C. Muraresku, The Immortality Key: The Secret History of the Religion with No Name (2020)....more

The Week in Weed: September 2020 #3

Seyfarth Shaw LLP on 9/18/2020

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana....more

The Week in Weed: March 2020

Seyfarth Shaw LLP on 3/6/2020

To cap or not to cap, that was the question facing the state of Florida this week. Lawmakers wrestled with the issue of capping THC content in medical marijuana for those patients under the age of 21. The Senate Rules...more

Tale of Two Cities: Cannabis and Commercial Real Estate

Seyfarth Shaw LLP on 2/18/2020

Recently, I had the opportunity to moderate panels on cannabis and commercial real estate at programs held in Los Angeles and Chicago. I won’t say it was the best of times or the worst of times, but I will say “it was the...more

Growing Pains with Medical Marijuana Taxation - Cannabis Industry News Alert

Bradley Arant Boult Cummings LLP on 1/9/2020

More and more states across the South are adopting medical marijuana regimes. With this growth comes growing pains. One such pain for marijuana businesses is the tension between following state laws on a product that is still...more

Tax Court Strikes a Blow to Medical Marijuana Industry, Although Dissents Offer Some Hope

Lowndes on 10/29/2019

As more and more states are allowing legal use of marijuana, medical marijuana businesses are faced with large tax bills because of marijuana’s continued classification as a Schedule I controlled substance under federal law. ...more

Marijuana And Group Health Plans: Is Coverage Possible?

Laner Muchin, Ltd. on 7/1/2019

As Illinois prepares to become the 11th state that has legalized marijuana in some form, group health plan sponsors, especially self-insured plan sponsors, may be considering whether they can or should include medical...more

Cannabis, Business Expenses, And The Code

Farrell Fritz, P.C. on 6/25/2018

Last week’s post may have left some readers feeling lightheaded or anxious. It is highly unlikely that this week’s post will leave these individuals in a greatly altered state, though it may alleviate their condition to some...more

Tax Court Decision Another Blow to Medical Marijuana Industry

Lowndes on 6/18/2018

The recent Tax Court decision, Alterman v. Commissioner, struck yet another tax blow against the growing medical marijuana industry. ...more

The High Tax Compliance Burden For Cannabis Businesses

Fox Rothschild LLP on 6/14/2018

Yesterday, the Tax Court issued its opinion in Alterman v. Commissioner, T.C. Memo 2018-83. This case involved the operation of a medical marijuana dispensary which was reported on Schedule C. The opinion includes a long...more

IRS Audits Of Cannabis Companies And The Importance Of Substantiation

Fox Rothschild LLP on 10/24/2017

Today, the Tax Court issued its opinion in Feinberg v. Commissioner, a case involving an ongoing and hard fought battle between the IRS and a medical marijuana dispensary, Total Health Concepts, LLC. The IRS examined THC’s...more

Cannabis Industry FAQ

Troutman Pepper on 7/18/2017

Can marijuana businesses receive federal copyright protection? Yes. The requirements for registration with the U.S. Copyright Office are that the work is original, creative and fixed in some form of expression. These...more

Food and Beverage Law Update: March 2017

Holland & Knight LLP on 3/15/2017

Legalized Drug Use Impacts the Food and Beverage Industry - In the November 2016 general election, voters in Arkansas, Florida and North Dakota amended their state constitutions to authorize the use of marijuana for...more

There Was a Panel on What?? Notes on the ABA Antitrust Spring Meeting Panel on Marijuana Law

BakerHostetler on 4/15/2016

Attendees at this year’s Spring Meeting may have been surprised by an unexpected panel: an overview of the status of the law related to the legalization of marijuana and antitrust issues facing the nascent industry. However,...more

No Tax Deduction for Medical Marijuana Company

Lowndes on 10/30/2015

As more and more states are allowing for medical marijuana or other legal uses of marijuana, it is important to recognize that the federal government’s treatment of marijuana as a controlled substance can have more than...more

A Real Bummer for The Marijuana Industry

Foster Garvey PC on 10/26/2015

As a general rule, in accordance with IRC § 162(a), taxpayers are allowed to deduct, for federal income tax purposes, all of the ordinary and necessary expenses they paid or incurred during the taxable year in carrying on a...more

15 For ’15: Employment And Labor Resolutions For The New Year

Constangy, Brooks, Smith & Prophete, LLP on 1/8/2015

While the year is still young, here are 15 New Year’s resolutions that employers may want to make: 1. Make sure your “independent contractors” are really independent contractors. ”Independent contractors” are under...more

BankinBits First Quarter Recap

Stinson LLP on 4/18/2014

The BankinBits blog, which discusses recent developments in the banking industry, has within the first quarter of 2014 addressed a diverse range of topics including banking services for the marijuana industry, the shuttering...more

21 Results

View per page

Page: of 1

Medical Marijuana › Marijuana › Internal Revenue Service

"My best business intelligence, in one easy email…"