Category: USA
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The CARES Act is Fake News for State and Local Governments
Local municipalities are losing money as COVID is cutting tax revenues and costs are increasing as residents require additional social support. Cities typically receive the bulk of revenue from sales taxes generated by local businesses and property taxes…
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COVID-19 Related Revenue Losses May Accelerate U.S. Cannabis Legalization
New York Governor Andrew Cuomo announced that recreational cannabis was not likely to be included in the budget as the state missed the March 31st deadline. New York is leading the country in COVID related costs associated with the high infection, death rate, and unemployment. These costs exacerbate the lost tax revenues, which is expected…
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Need Working Capital? State and Local Governments Provide Relief
Cannabis businesses with COVID-related losses, and no access to federal relief funds, may need financial help to get through the pandemic. State and local COVID-19 relief programs could be a good place to start. Many state and local governments are amping up alternative sources of low-cost loans and grants to help local businesses cover expenses…
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Massachusetts and Nevada COVID Restrictions Will Devastate Businesses
Substantially all of the states with legalized adult-use and medical cannabis industries are easing regulations to help cannabis businesses during the coronavirus pandemic. For example, nine states will temporarily allow retail operations to deliver marijuana products to customers waiting outside of the store, which the regulators are referring to as “curbside delivery.” So why are…
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Business Continuity Plans Can Help Your Business Survive Coronovirus
Coronovirus is causing chaos in the global economy. Some states in the US are trying to stop its spread by shutting schools and banning public events. Yesterday, Italy closed all non-essential shops and businesses. These measures impact businesses as employees deal with child care options and businesses respond on the fly. It is not too…
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DEA Sends Aggressive Message: Illegal Cannabis Operators Will Go To Prison
Source: DEA Domestic Cannabis Eradication / Suppression Program The US Drug Enforcement Agency may be stepping up efforts to send illegal cannabis operators to prison. The DEA announced this week that it worked with local law enforcement agencies to successfully prosecute two Aurora, Colorado residents for illegal cannabis cultivation. The pair will serve thirty (30)…
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NYSE Arca Wants to List a US Cannabis ETF
The NYSE Arca, Inc. filed a rule proposal with the Securities and Exchange Commission to list and trade AdvisorShares Pure US Cannabis ETF under ticker symbol MJUS. The managed fund will invest in US cannabis and hemp companies or derivatives of companies that provide similar economic characteristics. What needs to be done before Pure US…
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Law Enforcement Targets Interstate Cannabis Distribution
Law enforcement officials are announcing an increased number of cases involving multi-state cannabis distribution. In December, the Drug Enforcement Agency announced five (5) criminal cases that resulted in the seizure of cannabis, money, jewelry, and cars. This week, the Texas Department of Public Safety stopped a U-Haul van carrying 3,350 pounds of cannabis that was…
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The Unregulated CBD Industry is a Relic of the Past
The US Food and Drug Administration issued a statement yesterday warning the public about the dangers of using CBD including liver injury, drug interactions, and possible male reproductive toxicity. The FDA also stated that, due to the lack of information about CBD, it will use scientific methods to determine whether it is safe. The FDA’s…
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Cannabis Industry Faces First Test By Federal Regulators
The vaping epidemic created a crisis for the cannabis industry. Federal regulators can point to this epidemic as a reason to ban THC, CBD, and vaping products as a public health risk. At a minimum, the regulatory pendulum will swing and produce a significant number of new laws and regulations. So what is the industry’s…