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IRS talks cannabis taxes & enforcement (Newsletter: September 25, 2024)

CA hemp ban lawsuit; FL legalization ads; AK psychedelics; CO marijuana tourism drops; Pittsburgh cannabis discrimination law; CBD as insecticide

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Internal Revenue Service Senior Counsel Luke Ortner said the agency will continue to apply the 280E tax penalty on marijuana businesses for years prior to rescheduling—and that the agency could seize assets from cannabis companies that don’t pay what they owe.

Members of the hemp industry—including Cheech and Chong’s company—filed a lawsuit seeking to overturn new California rules banning cannabinoid products with any “detectable amount of total THC” that took effect this week.

Alaska Gov. Mike Dunleavy (R) allowed a bill to take effect without his signature to create a task force to study how to license and regulate psychedelic-assisted therapy in the event of federal approval of substances

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