IRS FORM 8300 Due to the federal government’s designation of cannabis as a Schedule I narcotic drug, licensed commercial cannabis businesses are burdened by a lack of access to banking services, thus they are forced to operate and conduct transactions using large amounts of cash. Any individual or business receiving more than $10,000 cash as …
Governor Newsom Approved the Following Bills On Tuesday, September 29th, Governor Newsom provided his final decision on several cannabis-related State Bills and Assembly Bills. Amongst the approved bills are: AB 1525 which provides that financial institutions do not commit a crime under California law for providing financial services to licensed commercial cannabis businesses, and therefore …
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Here is what you need to know about (1) AB 1470 that amends the definition of “final form” in relation to testing cannabis and cannabis products and (2) SB 67 which dives into the California Department of Food and Agriculture’s development of an appellation of origin program. Learn how they apply to your cannabis business. …
Read below for important updates on the status of the Los Angeles Cannabis Licensing and Regulatory program from the Department of Cannabis Regulation as presented on July 30, 2020. On July 30th, the Los Angeles Cannabis Regulation Commission held a telephonic meeting with Cat Packer, the Executive Director of the Department of Cannabis Regulation (“DCR”). …
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On July 1, 2020, the Los Angeles City Council unanimously voted to pass substantial overhauls to the city’s Social Equity Program for cannabis licensure found at Article 4, Chapter X of the Los Angeles Municipal Code. This week, KVK provides our breakdown of the most important changes to this legislation. FULL LA DCR ARTICLE | LA …
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