Send us a textIn this episode of Cannabis Legalization News, hosts delve into the latest happenings in the cannabis industry and policy. The show highlights the intricacies of the ongoing government shutdown and its impact on hemp policy, touches on daylight savings time adjustments, and examines GOP Senator Rand Paul's stance on hemp versus THC policy. The heated debate around IRC 280E tax and its ramifications for cannabis dispensaries is dissected in detail, along with discussions about the fight for cannabis legalization and the loopholes being exploited in the hemp industry. Special guest CPA Justin sheds light on the petition against 280E in the tax court, potential tax refunds, and strategies for businesses to navigate the complex cannabis tax landscape. They also touch upon upcoming events like MJ BizCon and provide updates on their own dispensary opening in Pekin, Illinois. Overall, this episode is a comprehensive guide to the current cannabis policy climate.00:00 Welcome and Introduction00:43 Government Shutdown and Hemp Policy01:06 Daylight Savings and Rand Paul Controversy02:23 Hemp vs. Cotton: The Industrial Debate03:11 Legal Loopholes and Hemp Industry06:27 Tax Policy and IRC 280E10:50 Federal and State Legal Complexities14:47 Cannabis Business Challenges16:52 Upcoming Guest and Industry Drama32:27 Government Shutdown and Cannabis32:29 Hemp vs. Cannabis: Personal Experiences34:16 Legal and Tax Implications of Cannabis36:07 Court Cases and Tax Strategies36:38 Federal Rescheduling and Industry Impact39:47 Class Action Lawsuits and Government Accountability45:46 MJ Biz Conference and Industry Networking49:05 Cannabis Regulation and Compliance Challenges59:01 Closing Remarks and Future OutlookSign up for our newsletter: https://bit.ly/3VEn9vu Support the showGet our newsletter: https://bit.ly/3VEn9vu

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related