By HILARY BRICKEN, Co-Founder Harris Bricken We’re very likely returning to the 2013 Cole Memo principles now that William Barr has been confirmed as AG — and that’s a good thing. Back on January 4, 2018, the cannabis industry was in a slight tailspin due to then-Attorney General Jeff Session’s (renowned marijuana hater) rescinding of […]
Cole Memo
Trump Card: Is A Congressional Legislative Victory On The Horizon For States’ Rights And Pot?
Hopefully the Justice Department will leave state-legal marijuana businesses alone now. By HILARY BRICKEN When it comes to cannabis and this Presidential administration, it’s a bit like watching a soap opera, complete with all the drama and emotional crescendos you would expect. In this week’s episode, the rumor is that President Trump struck a deal […]
No Congressional Couch Lock: State Medical Marijuana Laws Protected Through September 30th
By HILARY BRICKEN The Rohrabacher-Blumenauer Amendment can still be used as a shield for medical marijuana providers…for now. State implementation of medical marijuana laws are safe from interference from the Department of Justice until September 30th of this year. In a highly anticipated move, Congress extended the protections of the well-known “Rohrabacher-Blumenauer Amendment” (the “Amendment”) […]
Update: Sessions Shines Some Light On DOJ Marijuana Enforcement
The fate of marijuana operators in every state hangs on the prosecutorial whims of the U.S. Attorney in their districts. By Hilary Bricken Recall on January 4, 2018, when U.S. Attorney General Jeff Sessions single-handedly demolished the federal government’s former cannabis enforcement framework? This past weekend, Sessions finally shined some very brief light on the […]
Reading The Pot Leaves: What The Sessions Memo Means For Marijuana In The U.S.
This has spurred bipartisan support (and backlash) from Congress for federal legislation to let the states have full reign over marijuana. By HILARY BRICKEN Last week was an exciting and somewhat scary week for the marijuana industry. It started with California kicking off its long-awaited, newly regulated medical and adult use markets on Monday. Then, […]
Neither Budge At Cory Gardner And Jeff Sessions Meeting About Cannabis Wednesday Morning
WASHINGTON — U.S. Sen. Cory Gardner said Wednesday that a morning meeting with U.S. Attorney General Jeff Sessions did little to settle their disagreement over marijuana policy — an impasse that makes it more likely that Congress will have to address the issue. Gardner told Denver7, The Denver Post’s newsgathering partner, that Sessions gave no indication that […]
Marijuana Madness: Jeff Sessions Rescinds State-Legal Pot Policies
By Hilary Bricken What will the Future DOJ marijuana enforcement look like? It’s finally happening — Attorney General Jeff Sessions will, today, rescind the 2013 Cole Memo regarding federal enforcement in states that legalized cannabis. The Cole Memo, which came on the heels of marijuana legalization in Colorado and Washington back in 2012, set forth […]
Cole Memo No More? Some Initial Thoughts
By Patrick Vo Earlier today, U.S. Attorney General Jeff Sessions officially rescinded the federal cannabis guidance outlined in the Cole Memo. For those who don’t know, the Cole Memo basically states that as long as states employ effective tracking and regulatory frameworks to limit diversion and promote public safety within their state-recognized cannabis markets, then […]
Jeff Sessions Waives Sword of Damocles
By Steve Schain With Jeff Sessions threatening to singlehandedly crush $7.2 billion legalized marijuana industry spanning 30 states, generating millions in taxes and providing 10 of thousands of jobs, much confusion abounds. While unclear if merely a “knee jerk reaction” to California program’s launch breadth of coverage, unless and until the United States Department of […]
Breaking News: US to end policy that let legal pot flourish
WASHINGTON — Attorney General Jeff Sessions is going after legalized marijuana. Sessions is rescinding a policy that had let legalized marijuana flourish without federal intervention across the country. That’s according to two people with direct knowledge of the decision. They were not allowed to publicly discuss it before an announcement expected Thursday and spoke on […]
DripDripDrip – What is AG Jeff Sessions Up To Now?
What is U.S. Attorney General Jeff Sessions working on today that affects the cannabis industry, and who is he working on it with? If the most recent meeting held just two weeks ago is any indication, he’s digging in deeper in his quest to stop legalization, and calling in bigger policy and researcher guns to […]
Banks Gaining Confidence, Opening Doors to Navigable Pathway for Cannabusinesses
Banking for the cannabis industry has been a challenge to say the least. That said, there exists a navigable pathway for existing cannabis markets and for new state markets to follow. In light of lingering concerns that Attorney General Jeff Sessions will crack down on marijuana, the industry continues to see increased support from banking institutions. […]
The Legal Implications Of Advertising Cannabis Across Different Media
Placing and accepting advertisements for cannabis products is complicated. There are different legal concerns at the federal and state levels, and different considerations for advertisements in print, broadcast, internet and other media. Federal Law No matter what laws apply at the state level, federal law cannot be ignored. Over forty years ago, the United States […]
Marijuana Banking Takes Massive Leap Forward
Last month witnessed a marijuana banking explosion. Spanning 29 states and generating $7.2 billion in 2016, the United States’ legalized marijuana industry’s greatest obstacle—banking—was significantly reduced by the Department of the Treasury’s (Treasury) Financial Crimes Enforcement Network’s (FinCEN) June 6, 2017, “marijuana banking update,” The Fourth Corner Credit Union v. Federal Reserve Bank of Kansas City, […]
FinCEN: Steady Upward Trend of More Commercial Banks Working With Cannabis Businesses
The cannabis banking conundrum is getting better.. but still has a long way to go. That is the finding of recently released information by the Financial Crime Enforcement Network (FinCEN) that charted cannabis banking activity from January, 2014 to March, 2017. The FinCEN report showed that depository institutions that provided banking services to marijuana-related businesses […]
California cannabis group of stakeholders working on banking solutions
With the passage of California Proposition 64, the California Marijuana Legalization Initiative, in November, 2016, came a plethora of questions surrounding the regulatory processes that must be established before the sale of adult-use cannabis begins on January 1, 2018. The primary question: How does the state bank the cannabis industry? It seems paradoxical to require […]
Four Marijuana-State Govs Ask Feds to Leave Them Alone
Four governors of states where voters have legalized marijuana for recreational use are asking the Trump administration to leave in place an Obama-era agreement that gave exemptions to the legal pot industry. In a letter to Attorney General Jeff Sessions and Treasury Secretary Steven Mnuchin, the governors asked the Justice Department to maintain a 2013 […]
Banking Overview for Cannabis Companies
At California Cannabis CPA, we are fortunate enough to have many growing Cannabis Companies come to us to handle their tax and financial needs. Unfortunately, a huge grey area that our clients face relate to banking and money. Hopefully this post will help answer those questions and provide the information you need to thrive in this […]
