Cannabis News
Attention, Canna Companies! CTA Filing Deadline this Month
Published
1 month agoon
By
admin
For anyone that has not yet met their Corporate Transparency Act (CTA) filing requirements, now is the time! The deadline for entities created or registered before January 1, 2024, is less than a month away, on December 31, 2024.
In July, we published a blog post covering questions on the CTA. The full text of that post is included below.
____________________________
On January 1, 2024, the federal Corporate Transparency Act (CTA) took effect. The CTA requires a host of both domestic and foreign entities to disclose their beneficial ownership to the Treasury’s Financial Crimes Enforcement Network (FinCEN). Compliance with the CTA is required for all businesses, including those in the cannabis industry. In this post, I’ll overview some (but not all) key requirements of the CTA, and some of the implications for the cannabis industry.
What is the CTA?
The purpose of the CTA is to combat illegal activities like money laundering by disclosure of information concerning “beneficial owners” to FinCEN. Beneficial ownership essentially means the individuals who own or control a company (more on that below). FinCEN and other domestic governmental authorities can use this beneficial ownership information in certain contexts for law enforcement purposes. Detailed FAQs on the CTA are available here.
Who must report?
Corporations, limited liability companies, and other business entities are considered reporting companies for purposes of the CTA. Certain sole proprietors may not count as reporting companies, and CTA exempts 23 classes of entities, such as governmental bodies, banks, and certain large operating companies.
Figuring out whether a business qualifies for an exemption can in some cases be complicated, and businesses can flow in and out of exemptions over time. So it’s a good idea for businesses to confer with counsel to determine whether they are compliant.
When must reporting happen?
Reporting is done by submitting an initial beneficial ownership report (BOIR) with FinCEN via an electronic portal called the Beneficial Ownership Secure System, located at FinCEN.gov, free of charge. There are some key reporting deadlines, which change based on when a company was formed (for domestic companies) or registered in the US (for foreign companies) as follows:
- Entities created or registered before January 1, 2024, must submit their initial BOIR by January 1, 2025.
- Entities registered in 2024 are required to file within 90 calendar days of their registration becoming effective.
- For registrations from January 1, 2025, onwards, the deadline is 30 calendar days post-registration notice.
CTA also has requirements to periodically update beneficial ownership information after changes occur. Failure to comply with CTA can lead to monetary penalties and even criminal liability.
What must be reported?
Reporting companies must disclose individuals with substantial control or those owning at least 25% of the entity. Substantial control includes abilities like appointing or removing directors, making significant business decisions, or other forms of major influence. For example, question D8 on FinCEN’s FAQs addresses how management companies could be considered beneficial owners of a reporting company. Sound familiar?
Disclosure itself is not dissimilar to state-level cannabis regulatory disclosures. Beneficial owners must provide their legal name, date of birth, address, and an identifying number (e.g., SSN).
How will this affect the cannabis industry?
In case you were wondering, CTA applies to cannabis businesses. There is no exemption for reporting by state-legal cannabis companies.
A lot of cannabis companies will probably get squeamish at the thought of making detailed beneficial ownership disclosures. That’s especially the case where CTA by its terms allows FinCEN to share beneficial ownership information with other federal agencies engaged in law enforcement activities, or federal agencies that supervise financial institutions.
So, expect to see owners of cannabis businesses engage in all kinds of corporate changes to obscure beneficial ownership or reduce equity and control rights to get out of disclosures. In some cases, this will not work and people will face penalties.
Also expect to see a lot of cannabis companies (and non-cannabis companies for that matter) make a good-faith effort to comply with CTA initially but fail to update information as required by law. This is just going to happen, the way CTA is set up. Whether or not people are actually penalized for late disclosures or updates absent some kind of misfeasance remains to be seen.
Conclusion
CTA is complicated and has already been a headache for many businesses – so much so that at least one group of businesses brought a challenge to its constitutionality and won. Fortunately or unfortunately (depending on how you look at it) the court did not issue a nationwide injunction but only enjoined enforcement of CTA against the specific plaintiffs. It’s possible that in different litigation or future appeals, the law itself is enjoined on a nationwide level. But for the time being, it’s the law of the land.
Cannabis News
Spray CBD to Control Mosquitoes Instead of Pesticides?
Published
9 hours agoon
January 13, 2025By
admin
CBD For Pest Control?? New Study Shows CBD Is Effective In Killing Larvae Of Yellow Fever Mosquitoes
Dengue. Chikungunya. Zika virus. Yellow fever. West Nile disease.
If you know what these words mean, you know how much fear these words can incite. All of these words are the names of mosquito-borne diseases that are so dangerous they could be fatal, without early treatment and diagnosis. They can all be transmitted by the yellow fever mosquito, also known as the Aedes aegypti.
Yellow fever mosquitoes can live in any tropical or subtropical, as well as some temperate climates near human residences. There are many ways humans can inhibit the proliferation of these mosquitoes, particularly targeting a reduction or total elimination of eggs and larvae in human dwellings. However, it’s just as important to wear insect repellent too.
Unfortunately, we are yet to find a way to completely eliminate yellow fever mosquitoes. But this may be something that cannabis can help with too. Yes, you read that right: weed!
Cannabidiol (CBD) was recently featured in a publication called Insects documenting a study where hemp-derived CBD was found to be effective in killing yellow fever mosquito larvae. One of these two species studied was resistant to insecticides, yet, the researchers found that using pulverized and air-dried hemp leaves could be used to create a potent methanol concentration. The methanol was eventually removed in order to make it easier to analyze, and it was then fed to the mosquito larvae with its food. Then, it was discovered that the solution could kill these insects in 48 hours.
Erick Martinez Rodriguez, the study’s lead author and an entomology graduate student, told Ohio State News: “Mosquitoes are one of the deadliest animals in the world, mainly because as adults they serve as vectors of disease.”
“If you compare the amount of hemp extract needed to kill 50% of the population to other synthetic conventional insecticides, it is on the high side, but when you compare it side-by-side to other natural extracts we have tested in our lab, only a relatively low amount is required to produce high mortality values in larvae,” Rodriguez disclosed in the interview.
It’s also good to note that hemp is a sustainable crop, so compared to other plant-based insecticides, it could be a good choice and produced economically, adds Rodriguez.
“CBD is a compound that appears to be safe for people and our companion animals to ingest,” explains Peter Piermarini, the study’s co-author and an entomology professor at Ohio State University. “It’ll be interesting to learn more about how CBD interacts with various proteins in mammals and insects to understand why it’s safe for people but not insects,” he added.
Other Studies
This isn’t the first time that cannabis has been studied for its potential applications as an insecticide. According to a recent scientific review from researchers at the Universidade do Sul de Santa Catarina together with investigators at the Universidade Estadual de Sao Paolo in Brazil analyzed the impacts of cannabis on the eggs, larvae, pupae, and even adult vector insects including 4 mosquito species and one type of flea using existing studies.
The researchers said the results revealed the potential insecticidal effects of cannabis in the form of nanoemulsions, extracts, and essential oils. “Different cannabis formulations showed an insecticidal effect on the developmental stages of five species of medically important insects,” read the report. “The larval phase was the most studied; it was approached in all the articles reviews and taking into account all the Cannabis formulation formats,” the authors said.
The findings further cement the fact that cannabis should be explored much further as a natural, safe insecticide especially for targeting dangerous insects that can cause life-threatening disease to humans.
“However, we ought to clarify that despite the reported Cannabis insecticidal action on this insect vectors’ stage of development, there are still few studies that have approached the effect of this plant on the vectors’ larval stage that would allow an effective conclusion considering each formulation,” they wrote.
Meanwhile, researchers have also looked into the potential use of cannabis as a pesticide. Cornell University investigators from the School of Integrative Plant Science (Cornell AgriTech’s College of Agriculture and Life Sciences or CALS) discovered that a high concentration of cannabinoids from hemp leaves may have deterred insects chewing it, compared to other leaves that had less cannabinoids.
According to Larry Smart, a CALS professor and plant breeder, there’s a great lack of studies looking into why cannabis plants evolved to contain over 100 unique cannabinoids. “It has been speculated that they are defensive compounds, because they primarily accumulate in the female flowers to protect seeds, which is a fairly common concept in plants,” Smart explained. “But no one has put together a comprehensive set of experimental results to show a direct relationship between the accumulation of these cannabinoids and their harmful effects on insects,” he said.
When Cornell University began their hemp breeding program in 2017, that’s when the researchers observed a strange phenomenon: hemp from Ukraine, which didn’t produce cannabinoids, were far more vulnerable to being eaten by Japanese beetles. However, other hemp varieties that did produce cannabinoids didn’t have the same results. “In the absence of cannabinoids, we saw heavy insect damage, and in the presence of cannabinoids, we saw much less damage,” Smart said.
Conclusion
While we do need more studies on the subject, it’s clear that this is an angle worth exploring. Cannabis and hemp in general have shown to be effective in killing pests, especially the larvae of mosquitoes that transmit potentially fatal diseases. Aside from being effective, cannabis is also a much more cost-effective and environmentally-friendly solution.
PESTICIDES AND CANNABIS, READ ON…
Cannabis News
Thinking about Suicide, Smoke Some Weed
Published
2 days agoon
January 11, 2025By
admin
The conversation surrounding medical cannabis has gained significant momentum in recent years, especially as more jurisdictions legalize its use for therapeutic purposes. A recent study has added a compelling dimension to this dialogue, revealing that patients who utilize medical cannabis are less likely to experience suicidal thoughts. This finding is particularly pertinent given the rising rates of mental health issues and suicidality across various demographics. This article will explore the study’s methodology, findings, implications for mental health treatment, and the broader context of cannabis use in psychiatric care.
Overview of the Study
Research Design
The study was conducted by a team of researchers interested in understanding the mental health outcomes associated with medical cannabis use. They focused on a cohort of patients who had been prescribed cannabis-based medicinal products (CBMPs) for various medical conditions, including chronic pain, anxiety disorders, and post-traumatic stress disorder (PTSD). The researchers employed a longitudinal design, allowing them to track changes in mental health status over time.
Participants
The study involved a diverse group of participants, including adults from various age groups, genders, and backgrounds. All participants had a documented history of mental health issues and were seeking alternative treatments due to inadequate responses to conventional therapies. The sample size included 500 patients who provided informed consent to participate in the research.
Data Collection
Data were collected through self-reported questionnaires administered at multiple points: before starting medical cannabis treatment and at regular intervals thereafter (e.g., one month, three months, and six months post-initiation). The questionnaires assessed various aspects of mental health, including:
-
Suicidal Ideation: Participants rated the frequency and intensity of any suicidal thoughts they experienced.
-
Depression and Anxiety Symptoms: Standardized scales were used to measure levels of depression and anxiety.
-
Quality of Life: Participants reported on their overall quality of life and well-being.
Reduction in Suicidal Thoughts
One of the most significant findings from the study was that patients who began using medical cannabis reported a marked reduction in suicidal ideation. Specifically:
-
Post-Treatment Outcomes: Within three months of initiating cannabis treatment, this figure dropped to around 10%. By six months, only about 5% reported ongoing suicidal thoughts.
This substantial decline suggests that medical cannabis may have a protective effect against suicidality for certain patients.
Improvement in Mental Health Symptoms
In addition to reduced suicidal thoughts, many participants reported improvements in other mental health symptoms:
-
Anxiety Reduction: Around 70% of participants noted decreased anxiety levels after starting medical cannabis treatment.
-
Depression Alleviation: Approximately 65% reported an improvement in depressive symptoms. These findings align with previous research suggesting that cannabinoids may help alleviate symptoms associated with mood disorders.
Demographic Insights
The study also explored how demographic factors influenced outcomes:
-
Age Variations: Younger adults (ages 18-30) showed more significant reductions in suicidal ideation compared to older adults. This may suggest that younger individuals are more responsive to the therapeutic effects of cannabis.
-
Gender Differences: Female participants reported higher initial levels of suicidal thoughts but experienced similar reductions as their male counterparts following treatment.
Contextualizing the Findings
The Debate on Cannabis and Mental Health
The relationship between cannabis use and mental health has been complex and often contentious. Historically, many studies have highlighted potential risks associated with recreational cannabis use, including increased rates of anxiety, depression, and psychosis. However, this new research emphasizes the potential benefits of medicinal cannabis for patients with severe mental health issues.
Recreational vs. Medicinal Use
It is essential to differentiate between recreational and medicinal cannabis use:
-
Recreational Use Risks: Research has indicated that recreational users may be at higher risk for developing mental health issues. For instance, a study published in *JAMA Psychiatry* found that frequent recreational cannabis users were more likely to report suicidal thoughts compared to non-users.
-
Medicinal Use Benefits: In contrast, medicinal cannabis is often prescribed specifically for its therapeutic properties. The cannabinoids found in medical products—such as THC (tetrahydrocannabinol) and CBD (cannabidiol)—have been shown to have anxiolytic (anxiety-reducing), antidepressant, and neuroprotective effects.
Mechanisms Behind the Effects
While this study provides compelling evidence regarding the benefits of medical cannabis for reducing suicidal thoughts, it also raises questions about the underlying mechanisms at play:
-
Endocannabinoid System: The endocannabinoid system (ECS) plays a crucial role in regulating mood, stress responses, and emotional processing. Cannabinoids interact with ECS receptors (CB1 and CB2), potentially modulating neurotransmitter release related to mood regulation.
-
Pain Management: Chronic pain is often linked with depression and suicidal ideation. By alleviating pain symptoms through medical cannabis use, patients may experience an overall improvement in their quality of life and mental health status.
Implications for Treatment
The findings from this study have several important implications for clinical practice regarding mental health treatment:
Integrating Medical Cannabis into Treatment Plans
Given the promising results regarding reduced suicidality among patients using medical cannabis:
-
Personalized Treatment Approaches: As with any treatment modality, it is crucial for healthcare providers to tailor approaches based on individual patient needs. Medical history, current medications, and personal preferences should all be considered when recommending cannabis as a treatment option.
Need for Further Research
While these findings are encouraging, they also underscore the necessity for further research:
Addressing Concerns About Cannabis Use
Despite the positive findings regarding medical cannabis use in reducing suicidality, it is essential to address potential concerns:
While medicinal use can offer benefits, there is still a risk associated with misuse or dependency on cannabis products:
Stigma Surrounding Cannabis Use
Despite growing acceptance of medical cannabis, stigma remains a barrier for many individuals seeking treatment:
-
Concealment of Use: Many patients feel compelled to hide their cannabis use due to fear of judgment, leading to a lack of open dialogue with healthcare providers, which can hinder effective treatment.
-
Misconceptions and Misinformation: Stigma is often fueled by misconceptions about cannabis, including its association with addiction and recreational use, which can deter patients from seeking necessary medical care.
-
mpact on Mental Health: The stigma associated with cannabis use can contribute to negative mental health outcomes, such as anxiety and depression, as individuals grapple with societal perceptions and internalized shame.
Healthcare providers should foster open conversations about medical cannabis with their patients. Addressing concerns directly can help reduce stigma and encourage individuals to seek appropriate care.
Conclusion
A recent study indicates that patients using medical cannabis experience a significant reduction in suicidal thoughts, underscoring its potential therapeutic benefits amid rising mental health issues. Understanding alternative treatment options is increasingly vital, and while further research is needed to explore the mechanisms and long-term effects, this study supports considering medical cannabis as a viable treatment for severe mental health conditions. By fostering open communication about treatment options and promoting responsible use practices, healthcare providers can better support patients. As societal attitudes toward cannabis evolve alongside scientific understanding, prioritizing comprehensive care for those facing mental health challenges is essential, recognizing medical cannabis’s potential to alleviate suffering and improve well-being.
CANNABIS FOR TEEN SUICIDE RATES, READ ON…
Cannabis News
Parenting in the New Cannabis Reality
Published
3 days agoon
January 10, 2025By
admin
Teenagers Whose Parents Are Not Against Cannabis Use Four Times More Likely to Take Drug Says New Study, but Is That a Bad Thing?
Introduction
The landscape of adolescent substance use is continually evolving, particularly with the increasing normalization and legalization of cannabis across various regions. A recent study conducted by researchers at Washington State University has shed light on a interesting trend: teenagers whose parents are not opposed to cannabis use are four times more likely to experiment with the drug. This article delves into the findings of the study, the implications for parents and society, and the broader context of adolescent substance use.
Research Overview
The study, published in the *Journal of Child and Family Studies*, involved a sample of 276 adolescents aged between 13 and 17 years. The researchers aimed to explore the relationship between parental attitudes towards cannabis and adolescent usage patterns. The participants were asked about their perceptions of cannabis, their parents’ views on drug use, and their own experiences with cannabis.
Parental Influence
One of the most striking findings was that teenagers who perceived their parents as accepting or neutral towards cannabis were significantly more likely to have tried the drug themselves. Specifically, those whose parents did not express strong opposition to cannabis use were four times more likely to report having used it. This correlation suggests that parental attitudes play a crucial role in shaping adolescent behavior regarding drug use, but controlling a narrative in their kids reality may be more important than pretending you can stop certain behaviors.
Relationship Dynamics
The study also examined the quality of relationships between parents and their children. Adolescents who reported close relationships with their parents especially those whose parents used cannabis were more likely to view the drug favorably. This finding raises important questions about how parental modeling and communication influence adolescent decision-making.
The Broader Context of Cannabis Use Among Teenagers
As cannabis becomes legalized in more states and countries, its perception as a harmful substance is shifting. Many young people view cannabis as less dangerous than other drugs, a belief that is often reinforced by media portrayals and social acceptance. This normalization can lead to increased experimentation among teenagers, particularly if they feel that their parents are indifferent or supportive of such behaviors.
According to the National Institute on Drug Abuse (NIDA), cannabis remains one of the most commonly used illicit drugs among adolescents in the United States. Recent surveys indicate that approximately 35% of high school seniors reported using cannabis in the past year. The increasing accessibility and changing legal status of cannabis contribute to these rising numbers.
Implications for Parents
Given the findings of this study, it is evident that open communication between parents and teenagers is vital. Parents should engage in discussions about drug use, including cannabis, to establish clear expectations and boundaries. By fostering an environment where teens feel comfortable discussing their thoughts and experiences, parents can help mitigate risks associated with substance use.
Parents must articulate their views on cannabis clearly. While some may feel inclined to adopt a permissive attitude due to changing societal norms, it is essential to consider the potential consequences for their children. Setting firm boundaries can help adolescents navigate peer pressure and make informed decisions about drug use.
Parents serve as role models for their children. If they engage in healthy behaviors and demonstrate responsible decision-making regarding substances, their children are more likely to adopt similar attitudes. Conversely, if parents openly use cannabis or express ambivalence towards its use, they may inadvertently encourage their children to experiment with it.
The Role of Education
Educational institutions play a crucial role in addressing substance use among adolescents. Comprehensive drug education programs can provide students with accurate information about the risks associated with cannabis use and equip them with skills to resist peer pressure. Schools should collaborate with parents to ensure consistent messaging regarding substance use.
Community organizations can also contribute by offering resources and support for families navigating discussions about drug use. Workshops, seminars, and informational sessions can empower parents with knowledge and strategies to engage their children effectively.
The Impact of Legalization on Adolescent Use
The legalization of cannabis for recreational use has sparked debates about its impact on public health, particularly concerning youth. While proponents argue that legalization allows for regulation and education, opponents warn that it may lead to increased accessibility for minors.
Studies examining states that have legalized cannabis indicate mixed results regarding adolescent usage rates. Some research suggests that legalization does not significantly increase teen usage rates; however, other studies highlight a correlation between increased availability and higher rates of experimentation among youth.
Addressing Misconceptions About Cannabis Use
Perceptions vs. Reality
Many teenagers perceive cannabis as a relatively harmless substance compared to alcohol or tobacco. This misconception can lead them to underestimate the potential risks associated with its use, including impaired cognitive function, mental health issues, and addiction.
The Importance of Accurate Information
Parents should strive to provide accurate information about cannabis, including its effects on developing brains and potential long-term consequences. By addressing misconceptions directly, parents can help their children make informed choices about substance use.
Conclusion
The Washington State University study emphasizes the strong impact of parental attitudes on adolescent cannabis use. As societal norms shift, it’s essential for parents to have open discussions with their children about drug use while setting clear boundaries and modeling healthy behaviors. By creating an environment of communication and understanding, parents can reduce the risks associated with adolescent substance use. Additionally, schools and community organizations should collaborate to offer resources that help families navigate these challenges.As cannabis becomes more normalized, prioritizing education, communication, and responsible parenting is crucial for safeguarding future generations’ well-being
THE GUIDE TO PARENTING WITH LEGALIZATION, READ ON..
Soap Operas Reflect The Changing Status Of Cannabis
The 12 Best Glue crosses of all time
Dolly Parton Expands Her Food Empire
Spray CBD to Control Mosquitoes Instead of Pesticides?
How to Make THC Gummies with Cannabutter
How to Become a Budtender in Michigan
Best Cannabis Nutrients for Soil
Top 12 Delta 9 Strains to Try
Not Very Beat! Don’t Expect A Espresso or Piece Of Cake At A Cannabis Cafe In San Francisco
Thinking about Suicide, Smoke Some Weed
Distressed Cannabis Business Takeaways – Canna Law Blog™
United States: Alex Malyshev And Melinda Fellner Discuss The Intersection Of Tax And Cannabis In New Video Series – Part VI: Licensing (Video)
What you Need to Know
Drug Testing for Marijuana – The Joint Blog
NCIA Write About Their Equity Scholarship Program
It has been a wild news week – here’s how CBD and weed can help you relax
Cannabis, alcohol firm SNDL loses CA$372.4 million in 2022
A new April 20 cannabis contest includes a $40,000 purse
Your Go-To Source for Cannabis Logos and Designs
UArizona launches online cannabis compliance online course
Trending
-
Cannabis News2 years ago
Distressed Cannabis Business Takeaways – Canna Law Blog™
-
One-Hit Wonders2 years ago
United States: Alex Malyshev And Melinda Fellner Discuss The Intersection Of Tax And Cannabis In New Video Series – Part VI: Licensing (Video)
-
Cannabis 1012 years ago
What you Need to Know
-
drug testing1 year ago
Drug Testing for Marijuana – The Joint Blog
-
Education2 years ago
NCIA Write About Their Equity Scholarship Program
-
Cannabis2 years ago
It has been a wild news week – here’s how CBD and weed can help you relax
-
Marijuana Business Daily2 years ago
Cannabis, alcohol firm SNDL loses CA$372.4 million in 2022
-
California2 years ago
A new April 20 cannabis contest includes a $40,000 purse