Marijuana Moment: IRS resists call for cannabis biz tax guidance (Newsletter: April 3, 2020)

[Tokeativity]

ID medical marijuana effort suspended; Senators push for cannabiz loan access; Congresswoman: Shutting rec stores hurts veterans; IL sales grow

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/ TOP THINGS TO KNOW

The Internal Revenue Service is pushing back against an internal Treasury Department inspector general’s report that recommends the agency do a better job advising marijuana businesses about their obligations under the 280E tax provision that blocks deductions that are available to other industries.

An Idaho effort to put a medical marijuana initiative on the ballot is the latest in a series of drug policy reform campaigns across the country to suspend in-person signature gathering amid the coronavirus outbreak.

A group of 11 senators, led by Sen. Jacky Rosen (D-NV), is pushing Appropriations Committee leaders to adopt report language allowing marijuana companies to access Small Business Administration loans and disaster assistance programs.

Rep. Katherine Clark (D-MA) is calling attention to how Massachusetts’s move to shutter recreational marijuana stores during the coronavirus outbreak hurts military veterans—who are barred from getting medical cannabis recommendations from their Department of Veterans Affairs doctors.

Illinois stores sold nearly $36 million worth of recreational marijuana products in March despite the coronavirus pandemic.

/ FEDERAL

Food and Drug Administration Commissioner Stephen Hahn tweeted, “We continue to pursue those that place public health at risk. With @FTC, we issued a warning letter to Neuro XPF, which sells cannabidiol (CBD) products with the misleading claim these products can mitigate, prevent, treat, diagnose, or cure #COVID19.”

The Drug Enforcement Administration’s New Jersey office tweeted, “This week is National Drug and Alcohol Facts Week #NDAFW. Fact: Traces of marijuana stay in your body for several days after use and can cause someone to fail a drug test weeks later. #Shatterthe Myths”

Rep. Matt Gaetz (R-FL) tweeted, “The Federal Government’s current position on Cannabis is wrong.”

/ STATES

The New York attorney general’s office sent a cease and desist letter ordering Finest Herbalist to stop claiming that its CBD products can protect people against coronavirus.

Maine regulators issued guidance on social distancing requirements for marijuana businesses and said they may accept expired driver’s licenses or identification cards amid the coronavirus outbreak.

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/ LOCAL

Santa Clara County, California regulators said that only medical cannabis businesses can conduct in-store sales amid the coronavirus outbreak, while recreational marijuana sales must be done via delivery.

/ INTERNATIONAL

Canadian regulators recommended that medical cannabis businesses be considered essential during the coronavirus outbreak. Meanwhile, Ontario’s premier said officials are considering closing marijuana stores.

German regulators extended the deadline to apply to distribute medical cannabis.

A UK lawmaker is pressing the government to divert research money to fund medical cannabis prescriptions during the coronavirus pandemic.

/ SCIENCE & HEALTH

A review concluded that “music was widely considered integral for meaningful emotional and imagery experiences and self-exploration during psychedelic therapy.”

A study found “protective association between exclusive [supervised injection facility] use and exposure to violence among men.”

/ ADVOCACY, OPINION & ANALYSIS

The Drug Policy Alliance said President Trump’s announcement of a ramped-up militarized drug war is “an effort to distract Americans from his delayed response to the COVID-19 crisis—which at this point we know will likely cost hundreds of thousands of lives.”

Fox News commentator Geraldo Rivera tweeted, “In my 50 years as a newsman I have covered dozens of announcements like yesterday’s by @realDonaldTrump declaring another front in #DrugWar.I go back even before #Nixon declared #Elvis a special drug agent. My conclusion: drug wars easy to declare & always 100% end up Un-won.”

/ BUSINESS

Leafly launched a service to help marijuana businesses streamline their delivery services.

Cannabis social network LeafedIn has changed its name to LeafedOut following a trademark dispute settlement with LinkedIn.

/ CULTURE

Former NFL player Kyle Turley, whose CBD company received a federal letter warning it to stop claiming its products can prevent and treat coronavirus, tweeted, “OK OK, YOURE ALL RIGHT, ILL ADMIT IT! CHEAP CBD BRAND PRODUCTS WILL NOT PREVENT OR CURE COVID19!”

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