Articles Posted in California marijuana business lawyers

It may not seem like the best time to purchase or invest in any business, but cannabis farms throughout California are still being scooped up. cannabis farm lawyer

While COVID-19 has left the economy in a state of uncertainty, The Los Angeles Times reported the demand for cannabis actually surged in the immediate wake of state closures, with some . Gov. Gavin Newsom deemed cannabis businesses essential, and sales rose again.

Some theorize the uptick in sales has to do with people largely being stuck at home with not much else to do. Mounting anxiety likely also plays a role. Continue reading

California’s cannabis industry is considered essential, but it’s struggling in the wake of the COVID-19 pandemic. It was already grappling with high taxes, soaring compliance costs and fierce competition from the black market. marijuana business lawyer

Now, as our L.A. cannabis business lawyers can explain, companies are slated to receive a number of state benefits, and perhaps even federal aid in order to ensure their survival.

Marijuana Business Daily reports the state is planning to offer a number of extensions, relief and deferrals that should allow many pot shops, manufacturers and growers to keep operations chugging along and also meeting payroll. Many are hoping that this could ultimately lead to substantial, longer-term regulation – especially where taxes are concerned. Continue reading

Minority L.A. marijuana business entrepreneurs have a chance to receive a big boost through $30 million worth of grant funding. The California Bureau of Cannabis Control and the Governor’s Business Office of Economic Development has announced they will be assisting bud businesses owned by those in communities that were unevenly impacted by the failed War on Drugs. More than $6 million of that is going directly to cannabis companies in L.A. L.A. marijuana business lawyer

The money will be earmarked to:

  • Extend technical assistance.

Los Angeles marijuana tax lawyersProsecutors for the U.S. attorney’s office in the Eastern District of California have launched a grand jury subpoena, calling for records from Californian marijuana based companies, including the parent company of Weedmaps.

Criminal prosecutors for the U.S. attorney ordered records from 30 cannabis companies, including Ghost Management Group LLC, owner of the subsidiary Weedmaps. Through its website, Weedmaps not only provides consumers with lists of nearby cannabis retailers, it also allows consumers to find retail deals, place delivery orders, and rate compare and cannabis stores.

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marijuana bankingCalifornia has been hailed with potential to rein as the world’s largest regulated marijuana market on the planet, but currently trails in per-capita sales when compared with other recreational markets across the United States. Much of this can be attributed to California’s rampant illicit cannabis market, and further compounded by the state’s stringent regulation requirements for lawful cannabis businesses.

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cannabis lawyerThree separate law suits have been filed, alleging that a Californian-based marijuana company and its key executive defrauded $1.2 million in loans from investors.

The suits allege that Case Mandel and his Cannadips business operations, used fictional projections — inflated by as much as 2,000 percent — to deliberately mislead lenders into investing in his cannabis companies, then Mandel supposedly held the funds without ever intending to repay them.

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medical marijuana attorneyAs of March 1, 2020, California has allowed qualified medical marijuana patients and primary caregivers to receive free cannabis, donated by retailers. This welcomed update arose after the passing of Senate Bill 34, which is also responsible for exempting donated cannabis items from cultivation, sales and use, and excise taxes.

The bill states licensed growers, distributors, manufacturers, retailers and micro-businesses may allocate any already available inventory of cannabis and related marijuana products, for donation. Products set aside for donation can only be given by licensed retailers either directly to a medical patient, or to their primary caregiver.

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marijuana businessArroyo Verde farm, owned by Barry Brand in Carpinteria, was considered a prime example of how a legal cannabis business could flourish under close regulation from Santa Barbara County. Then in January, a sheriff-led raid of the farm found evidence to suggest the farm was not only selling licensed products, but also selling products on the illicit market too.

This came as a surprise to some. Barry Brand had a reputation among county officials and industry investors as an honest businessman.

He was so well trusted by officials, that when a licensed cultivator property tour was given by the county to show reporters just how well cannabis regulations were going, Brand’s farm was chosen. Ironically, the tour intended, among other things, to demonstrate just how impossible it would be for a grower to siphon off crop to sell on the illicit market.

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For 22 years, medical marijuana was the only kind of legal cannabis sold in California, until the state went on to legalize recreational cannabis in 2018. Within the months immediately following that addition, a number of medical marijuana dispensaries shifted away from leaving pot out on counters for customers to view and smell, to exclusively stocking pre-packed cannabis in already sealed bags. Prices went through the roof, welcome deals for new customers dried up, and hiked taxes raised product prices even more.

Marijuana dispensaries

While other dispensaries carried on with business as they always had done. They kept buds out and available for close-up inspection before being weighed, and a complimentary joint was often handed out to welcome first time purchasers. But if you shop at a dispensary of this kind today, chances are it’s an unregulated, illegal shop. Continue reading

California’s cannabis industry is sitting on a not-so-well kept secret — that many of its licensed, above board, legal business operators have also traded unlawfully, at some point, and to one extent or another.marijuana business

As many industry insiders have echoed, anyone turning a profit in this new era, has to have at least one hand in unregulated dealings. Chris Coulombre, CEO of Pacific Expeditors in Sonoma, has said “I have to imagine that 60 percent of the market overall is probably playing in a parallel markets, but I don’t think they enjoy that. It’s truly a decision of necessity.”

Whispers of retailers selling counterfeit products are rife. Cultivators are known to sell unregulated product on the side. But how can we blame them? Suffering terribly at the hands of price undercutting from illegal competitors, these unregulated exchanges are all taking place in hopes of keeping doors open, and businesses afloat. Continue reading

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