With the passing of the 2018 Farm Bill, industrial hemp was legalized in the United States, which means we’ll see a boom in the hemp-derived CBD products market in 2019. According to a report by Brightfield Group, the CBD market is expected to reach $591 million in 2018 (80% growth over 2017), and could grow […]
Farm Bill
The 2018 Farm Bill – What it Means for Hemp Farmers’ Tax Bill
CPA Covers The Income Tax Implications for Hemp Farms after the new 2018 Farm Bill The Agriculture Improvement Act of 2018 (the 2018 Farm Bill) has officially been signed into law. One of the major components of this legislation of industrial hemp. This blog post will mainly focus on what the tax implications of this legalization and […]
Even farmers are shifting from tobacco to hemp and CBD
Will Brownlow, who has been farming in southeast Kentucky for close to three decades, says he first planted 10 acres of hemp in 2016 for the “novelty factor.” This year, he planted 40, and next year he plans to cover 60 to 80 acres (25 to 32 hectares) of the 340 acres he farms in […]
Will Hemp-Derived CBD Be Fully Legal with Passage of the 2018 Farm Bill? Not Quite…
By Ian Stewart, Wilson Elser Public interest in the potential health benefits of CBD (cannabidiol) is responsible for a whole new market segment of health and wellness foods and supplements that features CBD as an ingredient. CBD is one of more than 100 cannabinoids in the cannabis plant, but unlike THC (tetrahydrocannabinol), CBD is not […]
McConnell Says Industrial Hemp Will Be In Farm Bill
Farm bill negotiators in Congress have struggled to resolve differences over work requirements for food stamp recipients, but the Senate’s top Republican guarantees the final version will include legalization of hemp. Senate Majority Leader Mitch McConnell said Friday that completing work on a new farm bill looms as one of his top priorities when Congress […]
Hemp-Derived CBD Will Dominate the Cannabis Industry within 4 Years
In 2016, hemp-derived CBD sales accounted for less than 5% of the cannabis market, but.rapid growth has driven CBD sales to nearly $600 million in 2018, and the Hemp-Derived CBD 2018 Market Overview and Analysis report from Brightfield Group predicts CBD sales will reach $22 billion (40 times its current market size) by 2022, surpassing […]
Elixinol Celebrates OTC Listing of Australian-Based Parent Company Elixinol Global
PRESS RELEASE Elixinol leads company’s growth with global hemp CBD demand DENVER— (September 18, 2018) — Elixinol Global Limited, known as EXL, (ASX: EXL, OTCQX: ELLXF) a global company in the industrial hemp, dietary supplements and emerging medical cannabis sectors, has commenced trading on the “OTCQX Best Market” in the United States under the symbol “ELLXF,” […]
CBD is Not A Controlled Substance – The “Source Rule” Applies
An Urgent Request from Bob Hoban – Hoban Law Group As you may know, the Hoban Law Group (HLG) appeared before the Ninth Circuit Court of Appeals (in February, 2018) in San Francisco – Hemp Industry Association, et al. vs. DEA (“HIA Suit”) –concerning the issue of CBD extraction from hemp, and the legality of industrial hemp, […]
Industrial Hemp: Legalized Marijuana’s More Lucrative Sibling
Derived from the identical plants, much easier to cultivate, and profoundly more profitable, industrial hemp lacks legalized marijuana’s glamour and intrigue. Derived from the identical plants, much easier to cultivate, and profoundly more profitable, industrial hemp lacks legalized marijuana’s glamour and intrigue. However, industrial hemp’s staggering growth and application has eclipsed that of marijuana and […]
Look, But Don’t Touch: Big Box Stores And ‘Hemp CBD’
Media recently reported on Target’s short-lived effort at selling cannabis-based CBD products online. By the end of the day on which the reporting was made, the major retailer had already removed the product from its website. The Phoenix New Times quoted Target spokesperson Kate Decker as saying, “We started carrying Charlotte’s Web hemp extract items last week on Target.com. After […]
