Monthly Archives: June 2022

OCM TO BEGIN ACCEPTING CONDITIONAL ADULT USE PROCESSOR APPLICATIONS

The Cannabis Control Board (the “Board”) held a public meeting earlier today during which it advanced several key components of the innovative Seeding Opportunity Initiative, which positions individuals with prior cannabis-related criminal offenses to make the first adult-use cannabis sales with products grown by New York farmers. Here are some key takeaways from the meeting:

New License Application Period for Conditional Adult Use Processor Licenses

During the meeting,… More

Massachusetts May “Decouple” From Section 280E

Key Takeaways:

  • Massachusetts is on the brink of becoming the next member of a growing number of states that are “decoupling” from Section 280E, the federal tax law that severely limits the extent to which cannabis-related businesses can deduct expenses for income tax purposes.
  • If pending legislation is enacted, such limitations would not apply for Massachusetts state income tax purposes, leading to potential tax relief for Massachusetts cannabis-related businesses.…
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OCM Community Outreach Continues: Conditional Adult Use Retail Licensing Workshop

The New York State Office of Cannabis Management hosted a “Get Ready, Get Set,” workshop to provide community members with vital information about the Marijuana Regulation and Taxation Act (MRTA) and the conditional adult use retail dispensary (CAURD) licenses at the Schenectady Public Library on June 8, 2022. Key takeaways from the meeting include:

  • CAURD eligibility requirements: people with a previous cannabis conviction in NYS or their eligible family members or non-profit organizations serving justice involved people.…
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