420 with CNW Archives - Page 89 of 298

TuesdayJan 10, 2023 4:20 am

420 with CNW — GOP Congresswoman Files Measure to Amend IRS Code So Cannabis Businesses Can Obtain Tax Relief

Last week, a legislation that would allow legal and licensed operators in the cannabis industry to receive federal tax deductions that are offered to other businesses was introduced in Congress. The bill, which was introduced by Representative Nancy Mace, seeks to revise section 280E of the Internal Revenue Service code. Section 280E prohibits businesses involved in activities comprised of trafficking in substances classified under the Controlled Substances Act such as marijuana, from receiving tax credits or deducting expenses from their taxes. This is despite the fact that these entities are still required to pay taxes like other businesses. This section…

MondayJan 09, 2023 4:20 pm

420 with CNW — Six Marijuana Trends to Watch for in 2023

There is an air of optimism at the turn of every new year, and the marijuana industry isn’t left behind. Cannabis business moguls are optimistic that profitable trends shall emerge for the industry’s fiscal year 2023. Last year saw some lows for the industry, from limited capital lending and investment to inflation and other factors. The new year starts with great hopes for the industry, and the market can look for several trends as the year progresses. Some 2023 trends to look out for in the cannabis industry include the following: Key market consolidation The COVID-19 business boom created the…

MondayJan 09, 2023 4:20 am

420 with CNW — New York Launches First Legal Adult-Use Cannabis Dispensary

Last week, the state of New York launched its first legal dispensary for recreational cannabis. The dispensary, which is operated by Housing Works, is the first legal shop in what is expected to be one of the most profitable markets for marijuana in the country. Housing Works is a not-for-profit organization that is minority controlled and serves individuals who were formerly incarcerated as well as the homeless and individuals diagnosed with HIV and AIDS. New York legalized the recreational use of marijuana in March 2021. However, unauthorized sellers have been selling the drug for years. Consumers’ purchasing regulated and high-quality…

FridayJan 06, 2023 4:20 pm

420 with CNW — Connecticut Clears Some 43,000 Cannabis Records Before Recreational Sales Begin

Connecticut Governor Ned Lamont recently declared that the state has expunged roughly 43,000 convictions for marijuana-related offenses. The state government was given the authority to promote widespread cannabis clemency under legislation that Governor Lamont (D) signed in 2021, and it has since handled 42,964 cases. This number was reached approximately a week before the start of the state's initial legal adult-use marijuana sales. Lamont noted that the state was one step closer to winning the battle on drugs and allowing residents a fair shot to realize their ambitions. The governor's office has also noted that under a distinct reform bill that…

FridayJan 06, 2023 4:20 am

420 with CNW — NORML Analysis Reveals Significant Uptick in Cannabis Research in 2022

Researchers have been busy, publishing more than 4,300 scientific papers on marijuana, making 2022’s tally a new record for annual cannabis research published. It is said that cannabis and its components are the most understudied, yet they have attracted plenty of researchers’ attention in current times. With cannabis being a federally illicit substance, studying it would be most agreeable to most people, especially given that more states are legalizing marijuana in one form or another. Largely, a societal misconception has it that cannabis is not extensively studied hence a lot of myths carry the day as far as policy reforms…

ThursdayJan 05, 2023 4:20 pm

420 with CNW — Google Lifts Ban on Ads for Hemp, CBD Products in Some US Jurisdictions

Google plans to lift a ban on advertising certain CBD and hemp products in some parts of America in January 2023. In an announcement made last week, the global technology company confirmed that it would permit the advertising of cannabis products in Puerto Rico, Colorado and California by updating its list of dangerous medicines products, services and healthcare. The company stated that the FDA’s approval of hemp-sourced CBD products containing 0.3% or less THC level as well as pharmaceuticals containing CBD meant that the products could now be advertised in the aforementioned jurisdictions. Google added that while CBD would be…

ThursdayJan 05, 2023 4:20 am

420 with CNW — Schumer Promises to Fight for Federal Cannabis Decriminalization in 2023

After reformers encountered several defeats in December, Senate Majority Leader Chuck Schumer has pledged to continue working toward decriminalizing marijuana on a federal level next year. Schumer gave a speech in the Senate in which he praised the efforts of Reggie Babin, a senior staffer who has been leading the charge for marijuana policy reform legislation. He promised to carry on with Babin's work and legacy, mentioning a few things that Babin had wished to accomplish, such as aiding in the decriminalization of marijuana. Even though Schumer, Senator Cory Booker (D-NJ) and Senator Ron Wyden produced a comprehensive cannabis legalization…

WednesdayJan 04, 2023 4:20 pm

420 with CNW — SAFE Banking Act Sponsor Retires from Congress

Representative Ed Perlmutter, who sponsored the Secure and Fair Enforcement Banking (SAFE) legislation, has retired from Congress. The congressman recently filed the text of his banking measure as an amendment to a large-scale appropriations bill. Senate Majority Leader Chuck Schumer had worked with the congressman to draft the Safe PLUS package. However, opposition from Senate Minority Leader Mitch McConnell and other Republicans made it hard for the amendments to be included in the National Defense Authorization Act. Senator Cory Booker also assigned blame to McConnell, noting that his opposition to marijuana reform had influenced Republican members who would have otherwise…

WednesdayJan 04, 2023 4:20 am

420 with CNW — Minnesota Medical Association Backs Statewide Drug Decriminalization

The Minnesota Medical Board has endorsed decriminalization of illicit drugs, low quantity possession expungements and promotion of harm-reduction projects. Approved this month, the recommendation is to remove criminal sanctions for possessing a negligible amount of illicit drugs or drug paraphernalia for personal use. The board also asked for an administrative panel to be created to provide treatment advice and lawful penalties to petty offenders who are found in possession of drugs. This dual approach ensures the policy reduces harm, similar to the one at play in Portugal. The board said it is urgent to increase investment for harm reduction and…

TuesdayJan 03, 2023 4:20 pm

420 with CNW — Study Finds Marijuana Legalization Has Greater Impact on Arrests Than Decriminalization

Researchers from the University of California San Diego recently conducted a study on the impact of adult-use decriminalization and legalization of marijuana on possession arrests. They discovered that legalization was linked to a significant decrease in marijuana possession arrests among individuals in legal states that decriminalized the drug prior to legalizing it. This is in addition to observing that the reduction in arrests was considerably higher in states that had shifted to legalization from criminalization without decriminalizing marijuana. For their study, the researchers obtained data on marijuana possession arrests from the Uniform Crime Reporting program, with a primary focus on…