New York marijuana regulators are reportedly investigating six companies that may have taken part in illegal shipments of cannabis across state lines in violation of both federal and state law, according to The New York Times. The targets of the investigation, according to unnamed sources, include California-based Stiiizy and Turn, …
Tag: Northwest
Lack of clarity from IRS leads to differing anti-280E tax strategies among cannabis pros
Cannabis companies have long loathed 280E tax code provision, but the on-again, off-again marijuana rescheduling process has led to creative strategies to deal with it. One such approach – championed by accountants such as Justin Botillier of Oregon-based CalyxCPA, who is giving an upcoming webinar on the topic – relies …
Grown Rogue nabs $7M credit line from FDIC-insured bank
Oregon-based craft cannabis producer Grown Rogue International (CSE: GRIN) (OTC: GRUSF) said it secured a $7 million credit facility from a “national, FDIC-insured commercial bank.” The four-year credit facility carries an interest rate of around 9.2% per annum, calculated as the secured overnight financing rate (SOFR) – which is currently …
Report: OK, OR and CA cannabis companies could be big winners under federal marijuana legalization
Oklahoma, Oregon and California are the best-positioned states to benefit from the interstate commerce that would result from federal marijuana descheduling, according to a white paper published this month by the University of Nevada Las Vegas. The analysis said those states having the cheapest large-scale production costs and the highest… …