NewsRoom Articles - Page 280 of 606

TuesdayApr 20, 2021 4:20 am

420 with CNW — IRS Terminology Every Cannabis Entrepreneur Should Know

The Internal Revenue Service (“IRS”) is a United States government agency that is responsible for collecting taxes and enforcing tax laws contained in the Internal Revenue Code. Below are a few terminologies that the agency uses — and which every cannabis business needs to know. Tax Deficiency This is basically the difference between what the IRS has determined is owed to the federal government based off of its records and what a taxpayer reports on their return. The Audit Technique Guide/Participant Guide These guides are internally written and published by the IRS and are used to assist agents in auditing…

MondayApr 19, 2021 4:20 pm

420 with CNW — Medical Cannabis Bill Awaits Floor Vote in Alabama House

Patients suffering from a variety of serious ailments in Alabama are a step closer to accessing medical cannabis after a House Committee made several amendments to a bill that would legalize medical marijuana in the state. The legislation, which has already passed the Senate, would allow qualifying patients to purchase and possess up to 70 daily doses of medical cannabis. Additionally, the bill would establish an Alabama Medical Cannabis Commission and task it with implementing industry legislations and issuing licenses. Senator Tim Melson, who sponsored the bill, stated that giving patients access to medical cannabis could reduce the number of…

MondayApr 19, 2021 12:33 pm

Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ) Announces LOI Aimed at U.S. Expansion

Pure Extracts plans affiliate partnership to install cannabis and hemp extraction system in existing Michigan facility Company CEO notes excitement about launching into first US initiative with experienced and entrenched partners Agreement outlines planned renovation of existing 2,600-square-foot facility located in central Michigan Pure Extracts Technologies (CSE: PULL) (OTC: PRXTF) (XFRA: A2QJAJ), a plant-based extraction company focused on cannabis, hemp and functional mushrooms, has inked a letter of intent (“LOI”) to form a joint venture that paves the way for the company’s entrance into the United States. Based on the LOI, PULL will partner with the affiliate of a publicly traded multi-state…

MondayApr 19, 2021 4:20 am

420 with CNW — New York Company Says Device Can Identify Drivers Impaired by Cannabis

As more states across the United States decriminalize or legalize recreational and medicinal cannabis, concerns about cannabis impairment have been floated, with some of the opinion that the plant’s legalization will bring about increased dangerous driving. Various studies have been conducted on marijuana and driving while impaired. So far, it has been determined that knowing whether a driver’s ability has been impaired by cannabis is a distinctly different task than determining whether an individual has been driving with too much alcohol in their bloodstream. This is mainly because THC, which is the main active chemical in cannabis, can stay in…

FridayApr 16, 2021 4:20 pm

420 with CNW — Ailing MTA Employee Mulls $5 Million Suit Against New York for Denying Him Medical Cannabis

Although more than 30 states have legalized some form of cannabis, the drug still remains illegal at the federal level. So while people in states with legal cannabis markets can consume cannabis legally, they are still liable to federal repercussions in certain situations. This is especially true for individuals who are employed by federal organizations, which base their policies on federal regulations and consequently penalize employees who use cannabis. An ailing Metropolitan Transportation Authority (“MTA”) worker found this out the hard way after the NYC Transit Authority suspended him and forced him to attend drug rehab classes for using medical…

FridayApr 16, 2021 12:20 pm

Largely Untapped Market for Hallucinogenic Draws Attention of Researchers at XPhyto Therapeutics Corp. (CSE: XPHY) (OTCQB: XPHYF) (FSE: 4XT)

XPhyto Therapeutics Corp., a life sciences technology accelerator, is looking for ways to turn promising psychedelics into therapeutic pharmaceutical drugs, and recently added mescaline to its study profile Mescaline is illegal under U.S. federal law, but some state-centric efforts to legalize or decriminalize the hallucinogenic have launched in a manner similar to the populace effort that produced a wave of cannabis product legalization Mescaline has historically defied predictable outcomes by researchers, but advocates cite it as a means of successfully treating some mental health and substance abuse disorders A number of psychedelics production stocks saw huge gains during the past…

FridayApr 16, 2021 4:20 am

420 with CNW — States Eyeing Marijuana Legalization in 2021

The past decade has been great for both recreational and medical cannabis, with more than 30 states legalizing some form of cannabis. The 2020 ballot saw five more states pass cannabis reform legislation, and 2021 is poised to be a good year for cannabis as well. Quite recently New York, New Mexico and Virginia passed legislation allowing recreational cannabis. Although it may seem like the wave of cannabis reform sweeping through the nation has reached its peak, the year is far from over. Lawmakers in several more states are still working on developing cannabis regulations and ending prohibition within their…

ThursdayApr 15, 2021 4:20 pm

420 with CNW — New Poll Finds Nearly Half of All Texans Empathize with Pandemic Marijuana Users

A survey conducted recently in the state of Texas has found that one in every five residents in the state have a more relaxed attitute toward the use of recreational cannabis. This comes at a time when several marijuana reform bills have been introduced during this legislative session in the state. The body that carried out the poll, Recovery.org, surveyed 3,000 residents in the state, with results revealing that 20% of those surveyed were more relaxed about using marijuana recreationally after experiencing a year of lockdown, as a result of the COVID-19 pandemic. Recovery.org stated that many individuals were able…

ThursdayApr 15, 2021 10:57 am

Green Hygienics Holdings Inc. (GRYN) Expanding Potential for Big Tobacco to enter CBD Cigarette Market

While more research is needed, a recent study provides some evidence that using CBD to transition from tobacco addiction holds significant promise Supply chain issues are the main barrier to entry to the CBD cigarette industry for big tobacco GRYN already owns the largest single industrial hemp for CBD farm in North America Big tobacco companies are already making strategic moves into the fast-growing hemp industry, as they are exploring hemp-based alternatives to tobacco. To make this move, they require a very large supply of quality industrial hemp from which they can derive the targeted CBD products, more specifically quality…

ThursdayApr 15, 2021 4:20 am

420 with CNW — Nevada Legislative Committee Approves Bill Allowing Marijuana Consumption Lounges

Last week, a legislation to permit on-site cannabis consumption lounges was approved in an Assembly committee in Nevada. Backed by Speaker Pro Tempore Steve Yeager, the bill would establish two new categories for marijuana business licenses in Nevada. One of the categories would cater for independent marijuana consumption lounges and the other for retail marijuana consumption lounges. Under the social use legislation, existing retailers will be allowed to apply for retail consumption lounge licenses as well as sell products to individuals aged 21 or older, which could be ingested on-site. However, independent lounges will be required to have cannabis products…