Guam is a U.S. territory in the Pacific Ocean of just around 165,000 people but it has made huge head-waves by being becoming the second American jurisdiction to legalize the sales of recreational cannabis through a legislature (the first U.S. jurisdiction to do so was the Northern Mariana Islands – click here for our previous […]
Under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I controlled substance due to the historical belief that it has a high potential for abuse, no currently accepted medical use in treatment, and lack of accepted safety for use under medical supervision. This status has prompted banks to prevent […]
Fail To Pay In Enough Tax Withholding And Estimated Tax Payments For 2018? Relief May Be Available To You. The IRS announced additional expanded penalty relief to taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year. At first on January 16, 2019 the […]
Beware 2019 Could Be A Banner Year For IRS Audits Of Cannabis Businesses. We previously reported in our blog that the Trump Administration organized a committee of federal agencies from across the government to combat public support for marijuana and cast state legalization measures in a negative light while attempting to portray the drug as […]
Two bills currently being considered by the California State legislature that would authorize legal cannabis businesses to provide free cannabis or cannabis products to a medicinal cannabis patient and would allow temporary licenses to be re-validated if an annual license application has been submitted. These measures if enacted into law could help legal cannabis businesses […]
Are You Effected By The Alabama Tornadoes And Severe Storms? IRS Is Providing You With Tax Relief And Extending Upcoming Tax Deadlines. The IRS announced on March 7, 2019 that victims of the tornadoes and severe storms that took place March 3, 2019 in Alabama may qualify for tax relief. Individuals who reside or have […]
A bill was introduced in the California legislature that would give legal cannabis businesses a tax break to help them thrive and level the playing field with cannabis businesses that continue to operate in the grey and black markets. Assembly Bill 37 Was First Introduced December 3, 2018 The proposed legislation, which is sponsored by […]
Under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I controlled substance due to the historical belief that it has a high potential for abuse, no currently accepted medical use in treatment, and lack of accepted safety for use under medical supervision. The federal penalties for possession of any […]
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