CannaRev Solutions

Consulting for the cannabis and hemp industries | Make America Green Again! | #cannabisconsulting #medicalmarijuana #cannabis #LegalizeIt

[CannaRev Solutions @cannarev]

We are a consulting firm in Columbus, OH. We design, license and build medical and adult use #cannabis facilities. Schedule a free call to discuss your Ohio licensing plans https://t.co/eJM1wwYFe7
#medicalmarijuana #marijuana #cannabisindustry #cannabislaw #cannabisconsulting

[CannaRev Solutions @cannarev]

@HIGH_TIMES_Mag Pop a gummy and enjoy the walk!

[Dougie Kass @DougKass]

We have learned yesterday that the US Drug Enforcement Administration will shortly approve a rescheduling of cannabis to Schedule III --and that the biggest legal hurdle, an international treaty (the Single Convention on Narcotic Drugs (1961)), to which the US is a signatory -

[The Dank Informer @TheDankInformer]

Here's a continuation of the absurdity that is cannabis and hemp law in the United States.

As we've established in the previous quoted post, "THCa hemp" flower is the same as cannabis flower. We demonstrate that very fact with the examples below.

Consider the following paradox:

Below are the potency tests from the Certificate of Analysis of 2 cannabis flower products done by the same lab:

1. Product A is sold by a hemp company online as federal and state legal "THCa hemp" and is shipped to most, if not all US states.

2. Product B is sold by a state legal licensed cannabis operator in a state legal medical dispensary.
Given that the certificate of analysis for both products shows that they contain < 0.3% D9-THC and by the 2018 Farm Bill, they should both be classified as hemp, not cannabis.

Hemp companies selling Product A do not pay 280E taxes, accept credit cards for online orders, ship cannabis flower across state lines (interstate commerce). They do this by classifying their cannabis flower as "THCa hemp" which is legal under the 2018 Farm Bill.

On the contrary, state legal licensed cannabis companies selling Product B can only accept cash, cannot ship to other states, and pay punitive 280E taxes.

Now imagine this scenario:

You buy legal "THCa hemp" flower and you leave it in your parked car before going out of town.

Your car was parked in the open airport deck and it's a hot summer. The "hemp" flower undergoes decarboxylation (THCa + HEAT = THC) and the legal THCa slowly converts to illegal THC.

After some time, the "hemp" flower you bought now has more than 0.3% THC and is considered illegal.

You're back from vacation driving your car and get pulled over. The car is searched. They find the old forgotten "THCa hemp" flower you bought and you are arrested. The state lab tests the confiscated flower, and it indeed comes back as more than 0.3% THC. You can't fight the arrest and you got a record on file. It's all thanks to the 2018 Farm Bill and the CSA scheduling of cannabis.

In summary, current hemp and cannabis laws and the CSA scheduling of cannabis are contradictory and inconsistent.

Adhering to the law by obtaining a state license to cultivate and sell cannabis restricts the law abiding state legal cannabis companies and punishes them with punitive 280E taxes and lack to financial services, whereas hemp companies can sell the same cannabis flower product without the aforementioned burdens.

MSOs should not be paying 280E taxes, they should be able to accept credit card payments, and the whole 0.3% THC cap and scheduling of cannabis needs to get nuked in court.

#LegalizeIt #Cannabis #CannabisIndustry #FarmBill #Hemp #Marijuana #CannabisCommunity #SAFEBanking #SAFERBanking $MSOS

[The Dank Informer @TheDankInformer]

On the ER call this morning, Trulieve confirmed the 280E amended tax return refunds of $113M and the fact that they are currently treated as a trade secret in addition to possible litigation.

Information on the 280E tax amendment would be made public if and when a court case is filed and the information enters the public domain.

$TRUL $TCNNF $MSOS #Cannabis #CannabisIndustry

[Puff Daddy 🇨🇦 @Puff_Daddy_Jr]

Interesting to hear tentative settlement on Ohio Harvest Assets 🏬 Harvest Ohio have 3 x Retail Stores, Processing, and Cultivation assets. Sounds like final agreement should be announced soon. That will give Trulieve a boost in the Ohio Rec Market 📊 $TCNNF $TRUL @Trulieve

[The Dank Informer @TheDankInformer]

WHAT!

Trulieve actually received "$113 million in refunds to date" based on those amended tax returns they filed last year?

$TCNNF $TRUL $MSOS #Cannabis #CannabisIndustry

[The Dank Informer @TheDankInformer]

Here’s my take on why @Trulieve decided not to pay 280E taxes going forward and why every state legal cannabis business should probably follow in their footsteps. Maybe that was their reasoning, maybe not, either way the circumstances are ridiculous!

It has to do with the Hemp Farm Bill and how hemp is classified and not subject to 280E taxes.

If the IRS takes Trulieve to court the whole hemp industry will crumble or cannabis will be completely taken off the schedule. Republican states like KY have huge hemp farms and businesses. Trying to go after Trulieve for 280E will result in the descheduling of cannabis or the destruction of thousands of hemp jobs and farms when the courts see the ridiculousness that is THCa vs THC and the loopholes in the law.

How so you ask?

Because the Hemp Farm Bill was so poorly written, it has allowed for mass adoption of cannabis under the “hemp” label.

Let’s not fool ourselves - hemp is cannabis. Just because the government has some arbitrary % cap on THC, doesn’t mean jack as you’re about to see.

Hemp farmers are not subject to 280E but have now entered the flower D9 THC market under the guise that it is THCa, not THC.

All cannabis flower is THCa! Your grand daddy’s weed had THCa, and your daddy’s weed had THCa. That is what got them high, but what exactly am I saying?

You can’t get high from THCa unless you heat it, that’s when it turns into THC. This is why weed was traditionally consumed by smoking. You can’t eat a bunch of flower and get high. You can however boil a bunch of nugs of weed with butter, thus by heating the THCa in them, you convert it to THC which bonds with the fat molecules in the butter and is later used to make edibles.

Anyone who has ever made edibles knows this!

THCa + HEAT =THC

So now we have hemp farmers and companies selling your daddy’s weed as “hemp” THCa, accepting credit cards, but not paying 280e taxes, while the same weed from a legal dispensary is also THCa but can only be bought with cash and the state licensed business has to pay federal 280E taxes.

So why aren’t MSOs selling THCa flower as a hemp labeled product like hemp businesses and avoid 280E?

Because D9 THC in the Hemp Farm Bill only really works for flower or edibles due to the % cap of THC which is by weight and concentrates are mostly THC so they can’t pass the % cap easily. It is either impossible or not feasible to make a THCa extract vape or shatter as THC is extracted using heat so any THCa is converted to THC, therefore violating the Herm Farm Bill cap. The risk exposure is also higher as the Hemp Farm Bill was supposed to get renewed and address some of these loopholes.

The government, through its incompetence, has basically put the industry in the most perplexing and contradicting situation.

TLDR: D9 THCa “hemp” is cannabis!
Equal treatment under the law needs to be adjudicated in the judiciary.

“280E for thee, but not for me!” - Hemp Farmers

#Cannabis #CannabisIndustry $MSOS #Hemp #marijuana #LegalizeIt #HempFarmBill #SAFEBanking #SAFERBanking

[MJBiz @MJBizDaily]

BREAKING: #Ohio becomes 24th state to legalize recreational #cannabis.

MJBiz reporter @ccasacchia with the story: https://t.co/7BZwdf4Cb6

(Photo by espiegle/stock.adobe.com)

[Forbes @Forbes]

Ohio Voters Approve Measure Legalizing Recreational Marijuana
https://t.co/O8KRJnyNXM

[Last Prisoner Project @lastprisonerprj]

BREAKING NEWS: Ohio has voted to pass #Issue2, making Ohio the 24th state to legalize cannabis.

But the fight for cannabis justice continues...

[High Times @HIGH_TIMES_Mag]

Ohio's a rec state! The 24th to legalize possession &amp; purchases of cannabis for adults 21+

• Possess 2.5 oz of flower, 15 g's of concentrates.
• Grow 6 weed plants
• 1 of the lowest tax rates (10%)
• Takes effect in 30 days
• There may be legislative changes by GOP haters

[@thc_dr ™ @thc_dr]

GM Everybody! I made my first podcast about Ohio Issue 2 Cannabis Legalization 🗳️
Check it out let me know your thoughts!
#marijuana #OhioIssue2 #Ohio #Cannabis

[OMCIA @OhioMCIA]

OMCIA applauds the group of senators who advanced the cannabis financing bill that would give legal protection to banks that take marijuana companies on as clients.

As part of OMCIA's advocacy efforts, we have written a number of letters to Senators offering our support.

[OMCIA @OhioMCIA]

See if you can become an Ohio medical marijuana patient. 🎉🎉🎉

Ohio has 26 qualifying conditions approved for the use of medical marijuana as a treatment.

Please find out more by visiting our website or by visiting https://t.co/MX9eLUkLVt

[OMCIA @OhioMCIA]

Planning on visiting a dispensary soon? Make sure you are prepared!

For more information, visit our website at the link in our bio!

[Lindsey Carmela Romano @lindseybartlett]

Why #cannabis is still illegal.

[OMCIA @OhioMCIA]

Real Ohio patients told us what qualifying conditions they use medical marijuana to treat.

Find the complete list of qualifying conditions at https://t.co/uDvNCJEIes

If you're a patient and want to tell us about your experience, please fill out the patient survey in our bio!

[Senator John Hickenlooper @SenatorHick]

Welcome to the club, Minnesota! As more and more states legalize adult-use cannabis, it’s time for Washington to pass our SAFE Banking Act and give legally operating cannabis stores the banking privileges afforded to every other business. Let’s get it done!

[David DeWitt @DC_DeWitt]

Lawmakers approved a measure to ask voters if Ohio should raise the threshold for approving constitutional amendments to 60%. But they set the August date through the resolution. They made no changes to state law which strictly limits such elections.

https://t.co/xKKLuJjhnt