Cannabis Newsletter - November 22, 2019

In today’s newsletter, House Committee approves MORE Act, losses and layoffs in the industry, a useful video on 280(e), and more.

  • The House Judiciary Committee Approves MORE Act 24-10.

  • In a recent case before the U.S. Tax Court, the Court rejected a challenge to Section 280E disallowing business-related expenses connected to the trafficking of Schedule I controlled substances based on the Eighth Amendment.

  • Tilray reports large third-quarter losses related in large part to lower cannabis prices.

  • Leafly announces a certified labs program with the hope of combating inconsistency in cannabis testing.

  • More layoffs for California cannabis businesses, but optimism remains as the potential of a federal banking bill by year’s end has heightened lender interest.

  • This short video regarding the effects and history of 280e was informational.

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