Connect with us

Marijuana Moment

New Jersey Lawmakers Send Governor Bill To Let Marijuana Businesses Claim State Tax Deductions As Partial 280E Workaround

Published

on


New Jersey lawmakers sent the governor legislation on Monday that would allow licensed marijuana businesses to deduct certain expenses on their state tax returns, a partial remedy as the industry continues to be blocked from making federal deductions under Internal Revenue Service (IRS) code known as 280E.

The measure was approved by the Senate in a vote of 32-3 following no debate or discussion on the floor. The legislation previously cleared the Assembly in October and advanced through the Senate Budget and Appropriations Committee last month in a meeting at which senators took up companion measures from their chamber and from the Assembly, making them identical.

The legislation was approved later on Monday in its final form by the Assembly in a 59-8 vote and now heads to Gov. Phil Murphy (D) to potentially be signed into law.

The version from Assemblymember Annette Quijano (D) was previously amended in committee in that body, with members agreeing to remove an earlier provision that would’ve made it so only cannabis licensees with gross receipts less than $15 million would be eligible for state tax deductions.

The companion measure from Sen. Troy Singleton (D) was substituted by the Assembly bill on the Senate floor

Read full article on Marijuana Moment



Source link

Continue Reading

Marijuana Moment

Florida Marijuana Legalization Measure Has Enough Support To Pass In Internal Polling, CEO Of Company Funding Campaign Says

Published

on

By


The CEO of a top marijuana company is pushing back against recent surveys showing insufficient support to pass a Florida legalization ballot initiative this November, claiming internal polling shows the measure ahead by a comfortable margin.

After the state Supreme Court cleared the proposal for ballot placement, rejecting a constitutional challenge from Florida Attorney General Ashley Moody (R), two polls came out indicating that the Smart & Safe Florida campaign didn’t have the required 60 percent support for passage.

But in an interview with Cheddar on Thursday, Tulieve CEO Kim Rivers dismissed the surveys, saying “don’t believe everything you’re hearing” when it comes to the two most recent polls “in particular.”

“We would not put our stock in those polls,” she said, adding that there are more “legitimate polls” from the past year that show the legalization measure “well over” the 60 percent threshold for passage.

Tulieve isn’t running the campaign, but it has been the main financial backer of the initiative, contributing nearly $50 million.

“Our internal numbers remain incredibly strong and closer to 70 [percent], actually than 60 [percent],” she said. “So [there’s] strong bipartisan support across the state.”

Rivers also said during Thursday’s interview that one recent

Read full article on Marijuana Moment



Source link

Continue Reading

Marijuana Moment

Alabama Senator Calls State Medical Cannabis Commission A ‘Money Pit’ Amid Ongoing Litigation

Published

on

By


“I don’t know what the problems are, but we need to get that resolved over there or we are going to have to do something legislatively to correct this.”

By Ralph Chapoco, Alabama Reflector

The head of the Senate’s General Fund budget committee last week vented frustration at the Alabama Medical Cannabis Commission’s legal woes.

Speaking at Thursday’s Contract Review Committee meeting, Sen. Greg Albritton (R-Atmore), the chair of the Senate’s Finance and Taxation General Fund Committee, said the ongoing litigation over the commission’s licensing process had turned it into a “money pit.”

“Right now, we are putting money into it,” he said. “Right now, we are having more and more and more suits coming in. I don’t know what the problems are, but we need to get that resolved over there or we are going to have to do something legislatively to correct this.”

Brittany Peters, a spokeswoman for the AMCC, said in a statement Monday that the commission’s “longstanding position” was seeing the state medical cannabis program “become fully operational as soon as possible.”

“With the priority of serving patients in the state who would benefit from medical cannabis, the commission is committed to defending against the lawsuits

Read full article on Marijuana Moment



Source link

Continue Reading

Marijuana Moment

Biden & Trump voters’ cannabis views (Newsletter: April 24, 2024)

Published

on

By


SC medical marijuana; Feds removing MDMA from drug testing; CA psychedelics; Ventura on cannabis politics; DEA psilocybin; Legalization & immigrants

Subscribe to receive Marijuana Moment’s newsletter in your inbox every weekday morning. It’s the best way to make sure you know which cannabis stories are shaping the day.

Your support makes Marijuana Moment possible…

Before you dig into today’s cannabis news, I wanted you to know you can keep this resource free and published daily by subscribing to Marijuana Moment on Patreon. We’re a small independent publication diving deep into the cannabis world and rely on readers like you to keep going.

Join us at https://www.patreon.com/marijuanamoment

/ TOP THINGS TO KNOW

Reps. Morgan McGarvey (D-KY), Morgan Luttrell (R-TX) and seven other bipartisan members of Congress sent a letter pressing the Department of Veterans Affairs to form a strategic plan to implement MDMA-assisted psychedelic therapy in preparation for federal approval as soon as this summer.

The Substance Abuse and Mental Health Services Administration’s Drug Testing Advisory Board is weighing proposals to remove MDMA from federal workplace drug testing programs while adding fentanyl.

The South Carolina House Medical Cannabis Ad Hoc Committee held a hearing on a Senate-passed bill to legalize patient access—but only took testimony from

Read full article on Marijuana Moment



Source link

Continue Reading
Advertisement

Trending

Copyright © 2021 The Art of MaryJane Media