March 2023

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 some of the popular, lesser-known cannabinoids that you will see promoted and sold at dispensaries.

Each cannabinoid offers a unique (and often complementary) effect, but the majority do not possess sufficient potency to be noticed when consumed. Research conducted with respect to the effects of these lesser-known cannabinoids has skyrocketed over the last decade, alongside the rise in popularity and legalization of cannabis nationwide. Despite the continuing need for further research, current data indicates that a number of the more potent and active cannabinoids have incredible health and wellness capabilities. As our understanding of various cannabinoids and their interplay amongst each other continues to grow, manufacturers are designing and marketing products that highlight certain … Keep reading

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 encourage you to take a few minutes and google it. You will find a library worth of materials on this hot topic. But to preserve optimism and sanity, this short article will focus on the solutions, not the problem.

In most cases, a state’s business tax laws mirror the analogous laws enacted at the federal level. However, New Jersey lawmakers have passed a bill permitting cannabis businesses to deduct certain expenses on their state tax returns that they are prohibited from deducting on their federal tax returns. This process is referred to as “decoupling” a state’s tax laws from the federal equivalent. Under the new law, New Jersey cannabis businesses subject to … Keep reading