420 with CNW Archives - Page 51 of 305

TuesdayDec 12, 2023 4:20 pm

420 with CNW — Rescheduling Cannabis Would Free Some Marijuana Companies from Section 280E

Earlier this year, the Department of Health and Human Services recommended that cannabis be moved to Schedule III of the Controlled Substances Act. This recommendation is currently being reviewed by the U.S. Drug Enforcement Agency (DEA). In the event that marijuana is reclassified, cannabis companies will no longer be affected by Section 280E of the IRS code. Section 280E specifically forbids any business linked to the trafficking of substances classified under Schedule I or II from deducting business expenses from their federal tax returns. Surprisingly, however, the cost of goods sold, whether it’s drugs or other products, is still an…

TuesdayDec 12, 2023 4:20 am

420 with CNW — Federal Study Finds That Prohibitionist States See More Hospital Admissions for Cannabis Use Disorder

Despite concerns voiced by critics regarding the potential surge in problematic cannabis use following legalization, recently released federal data from the Substance Abuse and Mental Health Services Administration (SAMHSA) reveals a different narrative. The SAMHSA analysis, which covered 2021 and was released last week, showed that the states with the greatest rates of treatment admissions for cannabis were those where sales of the drug were still illegal. The data showed that admissions to substance-use treatment services at state-licensed facilities for people aged 12 year of age and older totaled approximately 1.5 million countrywide. According to the Treatment Episode Data Set…

MondayDec 11, 2023 4:20 pm

420 with CNW — NY Regulators Can Issue Cannabis Business Licenses After Supreme Court Suspends Injunction

The New York State Supreme Court has formerly removed an injunction that had prevented state marijuana regulators from considering a flood of new store licenses, paving the way for a massive expansion of the state’s marijuana market. The court’s ruling comes only days after the state’s marijuana control board, CCB, reached agreements to settle two cases that had stalled regulators’ licensing procedures since August. In one of those resolved claims, a collective of war veterans sued the CCB, claiming that Ney York’s license prioritizing policy, which focused on social-equity entities affected by criminalization, unlawfully barred veterans with disabilities from candidacy.…

MondayDec 11, 2023 4:20 am

420 with CNW — Marijuana Stakeholders Discuss Legalization Prospects During National Academies Conference

The National Academies of Sciences, Engineering and Medicine (NASEM) recently hosted a two-day session with marijuana stakeholders, regulators, advocates, and legalization opponents to share thoughts on the country’s cannabis legalization landscape. It was NASEM’s second iteration of the Public Health Consequences of Changes in the Cannabis Policy Landscape’ series, following the first conference in September. The first conference featured representatives from federal agencies such as the Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), the National Center for Complementary and Integrative Health (NCCIH), and the National Cancer Institute (NCI). The event created an opportunity for officials…

FridayDec 08, 2023 4:20 pm

420 with CNW — Survey Shows at Least 10% of Senior Americans Have Used Marijuana Recently

Recent research findings indicate a growing trend of cannabis use among older Americans. A University of Michigan study, which used data from the National Poll on Healthy Aging, revealed that 12.1% of individuals aged 50 to 80 years of age in the United States reported using marijuana within the past year. According to the researchers, among those who acknowledged marijuana use, 34.2% reported using it at least four days a week. The study also revealed that during the first year of the COVID-19 pandemic, more than one in ten adults in that same age range turned to marijuana, with many…

FridayDec 08, 2023 4:20 am

420 with CNW — Policy Analyst Says Marijuana Legalization ‘Inevitable’

A policy analyst from TD Cowen says that cannabis legalization in the United States is “inevitable” and believes that it is just a question of weathering a bumpy legislative landscape for the next several years. Originally, many analysts thought federal cannabis legalization was finally on track after the Democrats secured the House, Senate and White House, especially as President Joe Biden had based part of his campaign on cannabis reform. However, while the Biden administration has taken some cannabis-related action, including issuing a mass pardon for people with certain cannabis-related convictions, the administration has barely made any moves to legalize…

ThursdayDec 07, 2023 4:20 pm

420 with CNW — Study Finds Drop in Young Adults’ Use of Tobacco, Alcohol Post-Cannabis Legalization

New research has found that the legalization of cannabis may be linked to a drop in the use of cigarettes and alcohol by young adults. For their study, the researchers surveyed 311 individuals aged 18 to 20 years of age who were living in Los Angeles prior to and after the state legalized the recreational use of cannabis in 2016. The participants were divided into two groups: prelegalization and postlegalization, with the latter group having 139 participants. The researchers found that despite increased normalization of marijuana use and increased access to the drug, legalization did not cause the frequency of…

ThursdayDec 07, 2023 4:20 am

420 with CNW — Marijuana Industry Stakeholders Upbeat Regarding Prospects of Ending Section 280E Pains

During a recent panel discussion at MJBizCon, industry insiders expressed hope for a positive shift in the status of marijuana under the Biden administration. The anticipation is that marijuana could be rescheduled, potentially reducing the burdensome taxes imposed on marijuana businesses by Section 280E of the federal tax code. However, amid this optimism, the panel acknowledged the existing challenges in the industry and the necessity of taking calculated risks to unlock future benefits. An illustrative example is Virgil Grant, an industry veteran who, despite enduring a six-year federal prison sentence for operating a legally sanctioned medical cannabis business in California,…

WednesdayDec 06, 2023 4:20 pm

420 with CNW — Immigrants Still Face Legal Consequences for Marijuana Use Despite State-Level Legalization

In Minnesota, individuals aged 21 years and older are permitted to legally possess and use marijuana. However, despite being legal at the state level, marijuana remains prohibited under federal law. This legal nuance is particularly pertinent for immigrants who haven’t obtain U.S. citizenship, according to Julia Decker, the policy director at the Immigrant Law Center of Minnesota. Decker emphasizes the federal control over cannabis, noting that engaging in any related activities or possessing marijuana could result in immigration consequences, potentially leading to deportation. This distinction holds regardless of one’s legal status, even if an individual possesses a green card or…

WednesdayDec 06, 2023 4:20 am

420 with CNW — Colorado Researchers Search for Reliable Cannabis Breathalyzer

Researchers at the University of Colorado Boulder are on the hunt for a reliable cannabis breathalyzer. Dozens of states now allow access to medical or recreational cannabis, but law enforcement institutions in the United States have largely been against cannabis reform efforts. On top of complicating law-enforcement efforts, these institutions say legalization will increase driving under the influence rates across the country. While data from several states shows no correlation between cannabis reform and higher traffic incident rates, the lack of a proper cannabis drug test is a major issue. The breathalyzer has a long history of accurately testing alcohol…

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