Cannabis lawsuit could be a game changer

BVWireIssue #237-1
June 8, 2022

industry analysis
economic forecast, industry analysis, cannabis

A coalition of influential marijuana companies and stakeholders are planning to sue the federal government over alleged unconstitutional policies that affect their operations, according to a report in Marijuana Moment. Two lawsuits will be filed in federal district court. One will challenge the Controlled Substance Act (CSA) and will argue that prior court rulings on the federal government’s authority over intrastate commerce should not apply to marijuana companies. The second lawsuit will focus on the tax law’s Section 208E, which impedes cannabis businesses from deducting federal taxes. Our thanks to Ron Seigneur (Seigneur Gustafson LLP), who alerted us to this news. Seigneur is the co-author of The Cannabis Industry Accounting and Appraisal Guide, and he will co-present a BVR webinar on cannabis valuation in August.
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