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Cannabis Law Newsletter – May 15, 2023

In today’s HK Cannabis Law Newsletter, we present articles regarding the amount of federal excise taxes paid by cannabis companies in 2022, a controversial bill proposed in California’s state assembly, the DCC’s recent efforts to crack down on the illicit market, and more!

  • State licensed cannabis businesses paid almost $2 billion in federal excise taxes due to their inability to take advantage of standard business deductions or other tax breaks available to non-cannabis businesses.

  • A controversial bill introduced in the California State Assembly would dictate contract terms in cannabis contracts and require regulators to intervene in payment disputes, in an effort to “pop” the unpaid debt bubble in the cannabis supply chain.

  • California’s illicit cannabis market is behind a “mind-blowing” amount of water theft in the state.

  • The Department of Cannabis Control has been cracking down on black market retail establishments in an effort to illicit sales.

  • The 2023 Cannabis Cup will be judged by Southern California consumers who purchase kits from local retailers.

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