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DOJ whistleblower: Bill Barr improperly targeted marijuana companies with investigations because he 'did not like' their business
LawandCrime.com
OUR TAKEAWAY
A DOJ whistleblower alleges that Attorney General Bill Barr improperly targeted cannabis M&A transactions due to his personal dislike for the industry. We are optimistic that this federal whistleblower complaint could stimulate cannabis M&A, given how politically difficult it would be for the DOJ to intervene in light of this recent political interference.
Cannabis case challenges non-deductibility of expenses
AcountingToday.com
OUR TAKEAWAY
Harborside in California, founded by industry veteran Steve DeAngelo, is continuing its challenge of the federal tax code 280E, which the company's legal team says is unconstitutional and runs afoul of the 16th Amendment.
Justice Department blocks 'essential' marijuana workers from bankruptcy protection
WallStreetJournal.com
OUR TAKEAWAY
"People working in the marijuana industry will face challenges if they file for bankruptcy until Congress addresses the conflict with federal drug laws," said Judge Reomero of the U.S. Bankruptcy Court, "Unfortunately, the courts find themselves in a game of whack-a-mole."
OUR TAKEAWAY
OUR TAKEAWAY