In today’s HK Cannabis Law Newsletter, we present information regarding: a Massachusetts case that has the potential to reshape the current approval process for dispensaries in the state; New Mexico joining the ranks of states that have decriminalized cannabis; the Internal Revenue Service (“IRS”) releasing documents lending insight as to how it uses section 280E in auditing cannabis businesses; President Biden appoints his new head of the Drug Enforcement Agency; and a look at who stands to benefit the most from New York’s new recreational cannabis industry.
Vice President Kamala Harris’s first comments on cannabis reform reflect it is not yet a priority for this administration, stating that she and President Biden have not had the time to consider what actions they may take to reform federal cannabis law.
A Massachusetts-based dispensary has challenged the neighborhood impact fees the city of Haverhill, MA imposed; a case that many are watching because a favorable decision for the dispensary would dramatically alter the state’s current system of local approval;
New Mexico Governor signed the state’s first cannabis decriminalization bill into law, with accompanying legislation to expunge certain cannabis based offenses.
The Internal Revenue Service (“IRS”) produced hundreds of documents regarding how it relies on 280E to tax and/or audit cannabis companies; the result of a successful Freedom of Information Act request;
Former Attorney General for New Jersey, Anne Milgram, is Biden’s new pick to head the DEA and the decision is cause for optimism within the industry; and
An assessment of who will benefit the most in New York’s new recreational cannabis market, which is hailed as progressive legislation because of its limits on multistate operators … but it just may not live up to expectations.