Virginia: Marijuana Arrests Decline Year-Over-Year

The total number of marijuana-related marijuana arrests declined more than eight percent from 2018 to 2019, according to annual data compiled by the Virginia State Police. State law enforcement officials recorded 26,470 arrests for marijuana violations in 2019, down from 28,866 in 2018. Marijuana-related arrests comprised 57 percent of all drug-related arrests recorded in 2019.... Continue Reading →

How To Make Sure You Don’t Pay More Than What You Owe To The IRS

I have not yet anyone who does not mind paying more to the IRS than they are legally obligated to.  In fact it is a basic right known enumerated in the Taxpayer Bill of Rights that taxpayers pay no more than the correct amount of tax owed. But if a taxpayer fails to file an income... Continue Reading →

Attention Cannabis Businesses Dealing With Cash – Beware Of IRS Required Filings That If Not Followed Could Lead To Penalties And Jail-time

While there is no law making it illegal to transact business with cash, the IRS has an interest in requiring parties to report cash transactions to deter those who evade taxes, profit from the drug trade and engage in terrorist financing and other criminal activities. The government can often trace money from these illegal activities... Continue Reading →

The Five Ways That IRS Selects Tax Returns For Examination

I have yet to meet anyone who looks forward to having their tax return be selected for an audit by IRS so you should know the five main ways that the IRS selects returns for examination. Potential participants in abusive tax avoidancetransactions — Some returns are selected based on information obtained by the IRS through efforts to identify promoters and... Continue Reading →

Cookies, MedMen, and Other Pot Shops Looted During Protests Against Police Brutality

Photo via @LAweedbus Cannabis dispensaries across the legal weed landscape were broken into, looted, and left empty over the weekend, after protests against police brutality and institutional racism turned into riots due to widespread aggressive policing tactics.  According to a slew of videos uploaded to social media, Los Angeles cannabis dispensaries Cookies, MedMen, LA Kush,... Continue Reading →

Proof Of Marijuana Use Discovered At Ancient Biblical Site In Israel

An ancient biblical tribe in Israel likely used marijuana to produce hallucinogenic effects as part of cultic rituals, according to a new study that identified cannabis resin on an alter in a shrine built around 750 BCE. Two alters that appeared near the entrance of the “Holy of Holies” in the Judahite shrine were excavated... Continue Reading →

U.S. Attorney’s Office Files Charges In Rhode Island Against Two Borrowers Alleging Fraud In Seeking Paycheck Protection Loans

This is the first in the nation to be charged with fraudulently seeking CARES Act SBA Paycheck Protection Loans The U.S. Attorney’s Office for the District Of Rhode Island announced on May 5, 2020 in a press release that two businessmen have been charged with allegedly filing bank loan applications fraudulently seeking more than a... Continue Reading →

Clever Leaves To List On NASDAQ

International cannabis company Clever Leaves will be listed on the NASDAQ (NASDAQ:NDAQ) as a result of its agreement with the Schultze Special Purpose Acquisition Corp. (NASDAQ: SAMA). According to a company statement, SAMA and Clever Leaves will combine and become a publicly-traded company on NASDAQ. Kyle Detwiler, CEO of Clever Leaves said, “The SAMA team... Continue Reading →

Valens GroWorks Arranges $40 Million Credit Line

Valens GroWorks Corp. (VLNCF) has entered into a syndicated credit facility with the Canadian Imperial Bank of Commerce as Co-Lead Arranger and Administrative Agent, and ATB Financial as Co-Lead Arranger. The Lenders will provide The Valens Company up to C$40 million of secured debt financing. “Although we are already well-capitalized, the Credit Facility increases our... Continue Reading →

Powered by WordPress.com.

Up ↑

Create your website at WordPress.com
Get started
%d bloggers like this: