The cannabis plant contains hundreds of different chemical compounds known as cannabinoids. The most familiar is tetrahydrocannabinol (THC), which is the most potent psychotropic chemical compound in cannabis that is responsible for the “getting high” aspect of consuming cannabis. A close second in notoriety, which has garnered huge commercial and consumer support in recent years, is cannabidiol (CBD), known for its calming and anxiety-relieving effects, among other wellness-related effects. There is immense depth to the science of cannabinoids. However, this blog offers an introduction to so ..read more

Does anyone else feel immense frustration when considering the inequitable treatment that cannabis businesses receive under Section 280E of the Internal Revenue Code (26 U.S.C. s. 280E)? It grinds my gears that our clients, that operate legally in their respective states of operation, aren’t afforded the same financial protections as businesses in other industries. Fortunately, some state lawmakers are taking legislative action to grant cannabis businesses equivalent tax deductions under state tax law. If you are unfamiliar with the 280E issue plaguing our national cannabis industry, I encour ..read more

  In just about one month from its release date to the public, Maryland’s proposed adult-use cannabis regulations, HBO556,  have received rumblings of discontent and concern from interested industry participants. Following the first hearing on the matter conducted by the Economic Matters Committee last Friday, February 17th, the Bill still has a long way to go before being finalized – with anticipation of several additional readings and proposals before reaching finalization. Below are some key highlights to know about the first reading of the initial proposal of the Bill and its re ..read more

More frequently over recent years, federal courts have wrestled with the constitutionality of a state’s requirement under its cannabis regulations that ownership of a cannabis company be majority owned (or some other prescribed percentage ownership) by a resident of such state, better known as a state’s “residency requirement.” The obvious repercussion of this regulatory requirement is the investor pool that cannabis companies can draw from is limited, especially as compared to cannabis businesses operating in states without a residency requirement. Not to mention the disappointment of entrep ..read more

Recent economic conditions in mature and established cannabis markets have led major players to bow out due to oversaturation in search of more opportunistic emerging markets. Curaleaf Holdings, a multistate operator, recently pivoted its business strategy by shutting down all California, Colorado, and Oregon operations. With all three of these states experiencing declining wholesale cannabis prices due to cultivation oversupply, Curaleaf has decided to exit these states and reduce its payroll by about 10% overall. Curaleaf is not the only big cannabis company to experience job cutbacks in rec ..read more

  The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market. This week we spotlight Joseph Campanelli, President, and CEO of Needham Bank. Joe’s 30 years in the financial services industry – including leading Hartford National into interstate banking, building Sovereign Banks – New England and its entry into commercial baking multi-state acquisitions, and leading the turnaround of Flagstar Bank, raising over $1 billion in capital, position him as a key market ..read more

Last month, tens of thousands of folks working in the cannabis industry congregated in sunny Las Vegas for MJBizCon 2022. Me and my canna-crew, comprised of the unparalleled attorneys in Burns & Levinson’s Cannabis Business and Law Advisory Group, were thrilled to share the city with other cannabis professionals and entrepreneurs. While the B&L team has been attending MJBizCon since its inception, it was my first time there. What can I say? It was a great privilege to chat with passionate professionals, learn from industry pioneers, and be in a place where cannabis is lauded for its e ..read more

The CannaBusiness Advisory Spotlight Series features expert perspectives from Burns & Levinson clients and contacts who are blazing new trails in the cannabis market. This week we spotlight Tony Repanich of Shield Compliance, a compliance platform for banks and credit unions. As President and Chief Executive Officer, Tony leads operations and is the company’s principal product architect. Having served as a senior executive at a Washington State-based community bank for 25 years, Tony has in-depth knowledge of the banking industry and the regulatory and compliance requi ..read more

On October 17th Burns and Levinson hosted its Sixth Annual Cannabis Industry Conference. Our very own Scott Moskol sat down with the following experts to discuss the current state of the national cannabis market and diagnose the events of the last couple of years that led the market to where it currently resides. David Bunzel / Managing Director – Investment baking, M&A, Public & Private Markets / Young America Capital Kyle Patrick Judge / Vice President – Management Liability, Cannabis & Transaction Risk / HUB International Tiffany Liff / Managing Director / Entourage Effect Capit ..read more

The cannabis plant contains hundreds of different chemical compounds known as cannabinoids. The most familiar is tetrahydrocannabinol (THC), which is the most potent psychotropic chemical compound in cannabis that is responsible for the “getting high” aspect of consuming cannabis. A close second in notoriety, which has garnered huge commercial and consumer support in recent years, is cannabidiol (CBD), known for its calming and anxiety-relieving effects, among other wellness-related effects. There is immense depth to the science of cannabinoids. However, this blog offers an introduction to so ..read more