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One overarching concern among all participants at the Conference was that of legal compliance. Every business at the convention has to worry about IRS concerns related to claiming business expenses, the paucity of banks willing to deal with the cannabis industry and accept cannabis-related funds, and the inability to work with credit cards. READ MORE
Thompson Coburn advises clients on state laws governing the business of cannabis to facilitate compliance with those state laws. Federal laws concerning cannabis currently conflict with state laws in states that have legalized cannabis or possession of cannabis. Although federal enforcement policy may at times defer to these states’ laws and not enforce conflicting federal laws, interested businesses and individuals should be aware that compliance with state law in no way assures compliance with federal law, and there is a risk that conflicting federal laws may be enforced in the future. In addition to this Cannabis-specific note, readers should review Thompson Coburn’s Conditions of Use / Disclaimers page containing other important information.
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