Political Jockeying May Delay Sales of Adult-Use Cannabis in NYS
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Tag: JD Supra
“Caging the Green Swan”—A Global Take on ESG Risk Management
Intensifying demands from regulators, investors, and the public for attention to environmental, social, and governance considerations presents a key challenge for risk managers, particularly those in the financial sector. This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. …Read the full story
Key Aspects Of Connecticut’s Recently Passed Adult-Use Cannabis Law
Connecticut became the 19th state to legalize cannabis for adult use when Governor Ned Lamont signed SB 1202 into law on June 22, 2021. This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. …Read the full story
El Salvador Christens Bitcoin as Legal Tender
On June 8, 2021, El Salvador’s Legislative Assembly voted to establish Bitcoin as unrestricted legal tender, making El Salvador the first sovereign nation to formally adopt the cryptocurrency. The Bitcoin law, which will come into effect 90 days from its publication in the Official Gazette, holds that the state is obligated to promote financial inclusion […]
Cannabis Litigation Update
First, the United States District Court for the Central District of California relied on the illegality doctrine to find that certain federal causes of action could not be asserted by an individual engaged in cannabis cultivation. She alleged in her lawsuit that the partner lied about his experience, background, and capabilities, and she sought lost […]
Employee Disability and Cannabis Oil Protections Set to Take Effect in Virginia
Key Takeaway: Virginia, once known as a jurisdiction with very few state employment laws, is quickly changing that reputation with the passage of numerous new laws since the Democrats took control of the state legislature in 2019. HB 1848 amends the Virginia Human Rights Act by prohibiting discrimination against those who are qualified to perform […]
Rhode Island Takes Major Step Towards Cannabis Legalization
Joseph Shekarchi still says legalization won’t be decided until after the budget process ends , the Senate Judiciary Committee, by a 6-2 vote, sent a cannabis legalization bill to the full Senate. The Senate bill reserves one-third of retail licenses for communities disproportionately hurt by previous marijuana enforcement, but otherwise green-lights a legalization initiative that […]
Reading the “Green Book” Tea Leaves: President Biden’s Tax Proposals and What It Means for …
This article does not attempt to provide a comprehensive summary of this year’s Green Book but rather highlights some of the key aspects that could affect international private clients. Prior to the 2017 Tax Cuts and Jobs Act, the corporate tax rate was 35%, and the top individual income tax rate was 39.6%. But for […]
Connecticut to Become 18th State to Legalize Recreational Cannabis
On June 17, 2021, the Connecticut General Assembly voted to approve the Responsible & Equitable Regulation of Adult-Use Cannabis Act . In addition to legalizing the recreational use and sale of cannabis, the Act contains a number of social equity initiatives and criminal justice reforms for the benefit of individuals and communities in the state […]
Securities and markets regulatory news, June 2021 #2
The European Commission has published a staff working document containing a toolkit of indicators for monitoring progress on the Capital Markets Union . ESMA refers to the Delegated Regulation adopted by the European Commission on 2 June 2021, specifying the conditions under which the commercial terms are to be considered to be FRANDT, and acknowledges […]
Continued Labor Movement Momentum in Cannabis
It spans two states, covering workers in Colorado and Florida, which UFCW trumpeted as the “first-ever national agreement” unionizing cannabis workers. As we previously wrote, the cannabis industry had less union participation than other industries, and seemed poised to see an increase in its unionization rate. This website uses cookies to improve user experience, track […]
Frank Springfield Featured in Bitcoin Panel Discussion on E-Crypto News
In an E-Crypto News panel discussion, What Are The Long-Term Prospects For Bitcoin? author Christopher Hamman brought together a panel of 13 business professionals, including Frank Springfield, to discuss Bitcoin’s long term prospects. “We have seen the amount of interest in cryptocurrencies skyrocket over the past year. However, I am confident that cryptocurrencies are not going […]
Green Finance: Regulatory Regime and Key Trends in the EMEA Region
A renewed sustainable finance strategy is expected to be adopted by the EU Commission in June this year. The UK government has moved away from a voluntary approach and has announced in a roadmap published in November last year its intention to make TCFD-aligned disclosures mandatory across the economy by 2025, with a significant portion […]
New York Legalizes Adult-Use Cannabis and Makes Significant Changes to Medical Cannabis …
It also established a general framework for the licensing and taxation of adult-use cannabis businesses and tasked two new regulatory bodies — the Office of Cannabis Management — with developing and implementing a comprehensive regulatory regime for the licensure, cultivation, production, distribution, sale, and taxation of all cannabis-related business in the state — i.e., adult-use […]
Biden’s Green Book Includes Retroactive Capital Gains Tax Increase
Of particular interest to investors is the administration’s proposal to raise the tax on long-term capital gains from its current maximum rate of 23.8 percent to a new rate of 40.8 percent for certain higher-income taxpayers: those with adjusted gross income exceeding $1 million if married filing jointly and exceeding $500,000 if married filing separately […]
Will Cannabis Ever Be Legalized At The Federal Level?
No state would be required to legalize cannabis under the MORE Act – if cannabis is illegal in a state, that more restrictive law would trump the federal law. Sixteen states and the District of Columbia have legalized recreational marijuana, and 36 states have legalized medical marijuana. This website uses cookies to improve user experience, […]
Ready, Set, Wait… New York Legalizes Adult-Use Cannabis, but Not Likely to Issue Licenses Until …
In fact, a corporation may apply for a license if a minority of its directors are non-US citizens if each of its principal officers are US citizens or permanent residents. Cities, towns, and villages may prohibit retail sales and on-site consumption of adult-use cannabis by enacting local ordinances no later than December 31, 2021, but may not […]
Chronic Regulation: The Next Episode in Nevada’s Booming Cannabis Industry
The first license, a retail cannabis consumption lounge license, allows existing dispensaries to add space for a lounge that is attached or adjacent to their adult-use cannabis retail store. While the CCB has yet to provide official guidance on many of the new regulations and procedures of this law—including new employee training requirements and mandatory […]
Here’s the Latest on Cannabis Legalization Efforts in Connecticut
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New York State Legalizes the Recreational Use of Marijuana
The new legislation, known as the Marijuana Regulation and Taxation Act , allows those who are at least 21-years of age to use, smoke, ingest or consume cannabis products. The Act prohibits one company from handling all parts of a recreational transaction, although a single party may be both a grower and wholesale distributor. However, […]