Industry

Federally illegal, but still a taxable business in the Internal Revenue Service’s purview. Hmmm. It sounds a lot like similarly conflicting language that the U.S. Supreme Court invalidated last century. Only a mere 77 years ago, it ruled that the “separate but equal” persona of segregated schools in Brown v. Board of Education was anything…

Billionaire Boys Club in New York City has nothing to do with either cannabis or tax revenue. It’s actually a boutique clothing store co-founded by music mogul Pharrell Williams. But outside of Albany, it could very well be where New York’s governor and legislators celebrate an enormous financial boon for the state: over $1.25 billion…

The Mississippi state legislature and the state’s governor have long struggled to collectively arrive at a working definition of “medical marijuana,” but recently there’s been tremendous progress on that front. In an overwhelming 104-14 vote on Wednesday, Mississippi’s House of Representatives passed an amended legalization bill. Pending Senate approval and Gov. Tate Reeves’ (R) signature,…

What’s more powerful than the political conflict between Democrats and Republicans? You guessed it: cannabis. On Tuesday, bipartisan Pennsylvania state senators revealed a plan to introduce a bill protecting banks and insurers who work with legal medical cannabis businesses from repercussions of state regulators. Senators John DiSanto (R) and Sharif Street (D)—chair and minority chair…

36 states currently allow medical cannabis. Soon, another may be joining them from one of the most conservative regions of the country. Next week, the South Carolina State Senate will consider a bill to legalize medical marijuana in the state. The proposed legislation—the South Carolina Compassionate Care Act—has received “special order” priority status which ensures…