• Marijuana CEOs Face Invalidation of Contracts Until Congress Acts

    Marijuana CEOs Face Invalidation of Contracts Until Congress Acts

    NEW YORK (MainStreet) — When Rent Rite Super Kegs West Limited filed for bankruptcy in Denver in 2012, the supplier of production materials and nutrients was denied protection by Federal Judge Howard Tallman because it was a marijuana-related business. “Federal law trumps state law,” said Bob Hoban, a cannabis attorney in Denver. “In any federal court,
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  • Feds Propose Taxing Marijuana, True Cash Crop

    Feds Propose Taxing Marijuana, True Cash Crop

    With all the upheaval in Washington, it isn’t likely that federal proposals to tax marijuana will pass anytime soon. Yet as Professor Paul Caron catalogs, economists are looking anew at the proposed Marijuana Tax Equity Act (H.R. 501). It would end the federal prohibition on marijuana and allow it to be taxed. Growers, sellers and users would not to fear violating federal
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  • Lawmakers block D.C.’s marijuana legalization

    Lawmakers block D.C.’s marijuana legalization

    A plan to regulate and tax marijuana in the District fell victim on Tuesday to federal budget negotiators, who inserted an amendment into a massive $1.1 trillion spending bill that effectively overturns a voter-approved initiative legalizing recreational use of the drug in the District. But the measure appeared to go much further, also rolling back
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