BottomBounce
4 일 전
Tilray Brands, Inc., a lifestyle consumer products company, engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. The company operates through four segments: Beverage Alcohol, Cannabis, Distribution, and Wellness. It also offers medical and adult-use cannabis products; purchases and resells pharmaceutical and wellness products; and produces, markets, sells, and distributes beverage alcohol products, and hemp-based food and other wellness products. The company offers its products under the Tilray, Aphria, Broken Coast, Symbios, Navcora, Charlotte's Web, Montauk Brewing, Shock Top, 10 Barrell, Breckenridge Brewery, SweetWater Brewing, Breckenridge Distillery, Blue Point Brewing, Broken Coast, Redecan, XMG, Manitoba Harvest, CC Pharma, Good Supply, Solei, Mollo, Chowie Wowie, Original Stash, Canaca, RIFF, Bake Sale, The Batch, HEXO, Alpine Beer Company, Green Flash, Hiball Energy, Redhook Brewery, Square Mile Cider, Widmer Brothers Brewing, Runner's High Brewing Company, Happy Flower, and Fresh Hemp Foods brands. It sells its products to retailers, wholesalers, patients, physicians, hospitals, pharmacies, researchers, and governments, as well as direct to consumers. The company was formerly known as Tilray, Inc. and changed its name to Tilray Brands, Inc. in January 2022. Tilray Brands, Inc. is headquartered in Leamington, Canada. $TLRY
doomed
6 일 전
Hawaii House Shelves Recreational Cannabis Bill in Stunning Reversal
Ben Stevens (Doomed)
FEBRUARY 13, 2025
Hawaii House Shelves Recreational Cannabis Bill in Stunning Reversal
Less than 48 hours after Hawaii lawmakers appeared poised to legalize recreational cannabis, the state’s House of Representatives unexpectedly slammed the brakes, shelving the measure until at least 2032.
The sudden procedural move on Thursday, led by Representative Chris Todd, stunned advocates and lawmakers alike, reigniting frustration over the state’s stalled cannabis reform efforts.
Last week, Business of Cannabis reported that House Bill 1246 (HB 1246), championed by Representative David Tarnas, cleared two key committees: the House Judiciary and Hawaiian Affairs Committee, chaired by Tarnas, and the House Agriculture and Food Systems Committee.
The bill proposed legalizing personal cannabis use for adults 21 and over starting in 2026 while also establishing a comprehensive regulatory framework under the Department of Commerce and Consumer Affairs.
It would also have seen the creation of a new state agency, the Hawaii Cannabis and Hemp Office, to oversee both medical and recreational cannabis, as well as hemp products. It would also impose a tax on cannabis sales, as seen throughout the US.
Despite gaining momentum earlier in the week, clearing two key committees with a 6-4 and 5-0 vote, respectively, Todd introduced a rare motion to recommit the bill to committee, effectively tabling it for the year. The motion passed via voice vote without public debate.
“On this particular bill, it became clear that we did not have enough support to pass the measure in this session,” Todd told Civil Beat following the vote.
The bill remains alive for the 2026 legislative session without needing to be reintroduced, and a separate Senate proposal, SB 1613, is still under consideration.
doomed
6 일 전
Good luck guys. You are in good hands with Grumpy Trumpy!
Business of Cannabis North America
Republican Senators Introduce Bill to Block Cannabis 280E Tax Relief Even if Cannabis Is Rescheduled
Ben Stevens (doomed)
FEBRUARY 13, 2025
As the cannabis rescheduling project hangs in the balance, two Republican senators are attempting to ensure that one of its core benefits would be made redundant, even if rescheduling is successful.
Aside from the potential of interstate trade and the official acknowledgement of cannabis’ medical uses, businesses across the US are primarily looking ahead to the tax benefits that will come with rescheduling.
Section 280E of the federal tax code currently prohibits businesses involved in trafficking Schedule I or II controlled substances from deducting ordinary business expenses, leading to significantly higher effective tax rates for cannabis businesses compared to other industries.
Figures from Whitney Economics suggest that the additional tax paid by US cannabis operators due to 280E is now over $2bn a year, including hundreds of millions of dollars for some of the largest companies.
However, a newly proposed bill from senators James Lankford and Pete Ricketts would indefinitely extend this tax burden.
Under the proposed legislation, any company involved in ‘trafficking marijuana’ would remain subject to 280E, unless cannabis is completely descheduled—a scenario that remains politically improbable in the near future.
Lankford, a long-time cannabis opponent, framed his bill as a safeguard against legitimizing the industry.
“Marijuana doesn’t make our families stronger, our streets safer, or our workplaces more productive,” he stated, adding.
The effort has been strongly backed by Smart Approaches to Marijuana (SAM), a prohibitionist advocacy group which has already proven a major hindrance to the rescheduling process.
SAM President Kevin Sabet hailed the bill as a way to prevent what he called $2.3 billion in ‘tax cuts’ for the cannabis industry, stating that ‘the federal government should not be in the business of giving tax relief to the federally addiction-for-profit marijuana industry.’
The bill has sparked sharp criticism from cannabis industry advocates, who argue that maintaining 280E restrictions will only benefit the illicit market by making legal cannabis less competitive.
doomed
6 일 전
Business of Cannabis North America
Trump’s DEA Revolving Door: 4th Administrator in as Many Months Rings Alarm Bells for Cannabis Industry
FEBRUARY 13, 2025
The fourth head of the Drug Enforcement Administration (DEA) in as many months has been given the green light by President Donald Trump, painting an even more worrying picture for the future of cannabis in the US.
Trump has now nominated anti-cannabis Terrance C. Cole as the next DEA administrator, less than a month after appointing long-time cannabis sceptic Derek S. Maltz as ‘acting administrator.’
While it’s not yet clear why Maltz was shunned so quickly, his replacement, a 30-year law enforcement veteran and former DEA official, has caused even more panic in the country’s cannabis community.
Cole has historically taken an even more hardline stance than his all-too-temporary predecessor, publishing numerous public posts claiming, among other things, that cannabis is ‘four times more dangerous’ than 30 years ago, that it leads to higher suicide risk, while advocating a #justsayno stance.
Before taking office, Cole must still be confirmed by the Senate, which could prove to be a contentious process given his hardline stance on cannabis and drug enforcement. If confirmed, he will inherit the rescheduling review, along with growing scrutiny over the DEA’s role in delaying administrative hearings on the proposal.
While this places the rescheduling process on even more dangerous territory, one analyst told Business of Cannabis that it could signal much more serious consequences for cannabis policy in the country.
Deborah Tharp, cannabis legal researcher and consultant, says that this gives legitimacy to the theory that the administration is attempting to push through Project 2025 regardless of public opinion, including a war on state-legal cannabis.
“Trump has hardcore prohibitionists in all the right places now. Time to start praying for miracles.”
However, she stipulates that his choices reveal a lack of cohesive policy, no surprise given the president’s tendency to change his position on key topics on a dime.
This has already been demonstrated in his picks for the head of the DEA. Matt Gaetz, Trump’s first selection for administrator, announced in November that he was withdrawing himself from the process as he dealt with a House of Ethics Committee investigation into sexual misconduct.
His next choice, Florida County Sheriff Chad Chronister, abruptly withdrew his nomination for the post just weeks later.
Chronister’s sudden exit was initially framed as a voluntary withdrawal, citing dedication to his constituents; however, Trump soon sought to correct this to his own narrative, stating: “He didn’t pull out. I pulled him out because I did not like what he said to my pastors and other supporters.”
With suspicions that the far-right think tank, The Heritage Foundation, is largely guiding this administration, Tharp fears the US is ‘going to get very, very regressive’ in the coming months and years.
doomed
1 주 전
Trump taps career DEA official to lead agency, oversee marijuana rescheduling
Doomed
February 12, 2025
President Donald Trump’s choice to lead the U.S. Drug Enforcement Administration is Terrance Cole, a career anti-cannabis DEA official currently serving as a top law enforcement official in Virginia.
The appointment of a longtime DEA insider – which Trump announced midday Tuesday in a social media post – is not likely to boost hopes that the agency will resume the Biden administration-initiated marijuana rescheduling process.
A previous Trump pick to head the DEA, Chad Chronister, a Florida sheriff, abruptly withdrew his nomination for the post.
Cole served more than two decades in the DEA, retiring in 2020 as the acting regional director overseeing operations in Canada, Central America and Mexico.
Trump has said he supports marijuana rescheduling, but Cole’s resume does not suggest he may embrace cannabis reform.
Cole worked under Virginia’s anti-marijuana governor
after exiting the DEA, Cole joined Virginia Gov. Glenn Youngkin’s administration, where he served as the state secretary of public safety and homeland security.
Youngkin, who has repeatedly opposed adult-use marijuana sales in Virginia, praised Cole’s appointment.
“He will put the safety and security of Americans first as head of the DEA,” Youngkin said in a statement.
“It’s a great day to be an American and a bad day to be a drug dealer.”
If confirmed by the Senate, Cole would assume control of the paused marijuana rescheduling process.
Marijuana rescheduling process remains up in air.
Rescheduling has been on hold since January after pro-legalization “designated participants” in hearings before a DEA administrative law judge accused the DEA of bias.
Critics have accused the DEA of slow-walking the process and refusing to hear evidence from states, including Colorado, in support of the change.
Considering those designated participants’ appeal and resuming the process – or abandoning it – is solely up to the discretion of the DEA administrator.
The acting administrator, Derek Maltz, also a longtime DEA insider, has not moved to resume the rescheduling process.
Nor did he indicate any plans one way or the other.
Capitol Hill observers believe federal agencies such as the DEA as well as Republican lawmakers will pursue whatever marijuana policy the White House demands.
However, a Trump edict issued on Inauguration Day froze all changes to federal law pending review – and approval – by a department or agency chief appointed by the president.
BottomBounce
1 주 전
Tilray Brands, Inc., a lifestyle consumer products company, engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. The company operates through four segments: Beverage Alcohol, Cannabis, Distribution, and Wellness. It also offers medical and adult-use cannabis products; purchases and resells pharmaceutical and wellness products; and produces, markets, sells, and distributes beverage alcohol products, and hemp-based food and other wellness products. The company offers its products under the Tilray, Aphria, Broken Coast, Symbios, Navcora, Charlotte's Web, Montauk Brewing, Shock Top, 10 Barrell, Breckenridge Brewery, SweetWater Brewing, Breckenridge Distillery, Blue Point Brewing, Broken Coast, Redecan, XMG, Manitoba Harvest, CC Pharma, Good Supply, Solei, Mollo, Chowie Wowie, Original Stash, Canaca, RIFF, Bake Sale, The Batch, HEXO, Alpine Beer Company, Green Flash, Hiball Energy, Redhook Brewery, Square Mile Cider, Widmer Brothers Brewing, Runner's High Brewing Company, Happy Flower, and Fresh Hemp Foods brands. It sells its products to retailers, wholesalers, patients, physicians, hospitals, pharmacies, researchers, and governments, as well as direct to consumers. The company was formerly known as Tilray, Inc. and changed its name to Tilray Brands, Inc. in January 2022. Tilray Brands, Inc. is headquartered in Leamington, Canada. $TLRY
doomed
1 주 전
Home / Finance
GOP senators’ bill would keep 280E for cannabis operators permanently intact
Doomed
February, 11 2025
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Two Republican U.S. senators have introduced a bill that would continue to ban federal tax deductions for the cannabis industry – regardless of whether marijuana is rescheduled.
According to Law360, James Lankford of Oklahoma and Pete Ricketts of Nebraska introduced the “No Deductions for Marijuana Businesses Act,” which would essentially kill any substantive tax breaks operators hoped to receive if marijuana status were downgraded from Schedule 1 to Schedule 3 of the Controlled Substance Act.
Under Internal Revenue Code Section 280E, cannabis operators are prohibited from deducting typical business expenses, such as payroll and marketing, on federal tax returns.
So, in that respect, the senators’ proposal would not change the federal government’s ongoing policy stance regarding 280E, a provision that has wiped more than $1 billion from the balance sheet of marijuana companies nationwide.
Some tax experts expressed doubts the bill would advance, given the widespread popularity of marijuana reform, Law360 reported.
In January, the U.S. Drug Enforcement Administration’s the chief administrative law judge canceled the marijuana rescheduling process indefinitely amid accusations the agency is deliberately corrupting the hearing.
In August 2023, federal health regulators under former President Joe Biden recommended rescheduling marijuana.
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