Effective immediately, cannabis infused gummies manufactured and sole under Maine's Adult Use cannabis program will no longer be required to be individually stamped with the approved cannabis universal symbol. Learn more by reviewing this blog.
280E has had a significant impact on both adult use and medical cannabis and marijuana businesses. Challenges to the tax environment may provide pathways to significant changes in the tax treatment of these businesses. Cannabis companies should consider filing amended returns or protective claims for amended returns as soon as possible to preserve their right.
The Maine Legislature made some significant changes to Maine's Cannabis Legalization Act in 2023, which governs Maine's Adult Use Cannabis Program. Some of these changes include expanding delivery services, increase in maximum amount of THC in a edible cannabis product and more.
LD 1063 amends Maine's tax laws to allow Maine Adult Use cannabis businesses to deduct business expenses from their state taxable income. With this change, all Maine cannabis licensees are now treated equally from a state tax standpoint.
State and federal tax laws are often overlooked by cannabis companies. Tax planning and understanding your tax obligations are necessary to ensure your company remains in tax compliance.
Maine has had a robust medical cannabis program for sometime. However, there was a significant reduction in the number of registered caregivers and assistants in 2022, despite an increase in patients.
On January 3, 2023, the Office of Cannabis Policy ("OCP") published a report, titled "State of Maine, Metrc User Group." The Report outlines various issues discussed by the working group and suggested resolutions.
The Office of Cannabis Policy confirms that it will no longer enforce Maine's residency requirement in the medical cannabis program.
The U.S. Court of Appeals for the First Circuit affirmed a lower courts decision that the Dormant Commerce Clause applies to the cannabis industry; as such, Maine's Residency Requirement for its Medical Cannabis Program violates the Commerce Clause of the U.S Constitution.
Maine Office of Cannabis Policy Cannabis Markets & Associated Outcomes - Survey Findings and Implication. Data suggests that Adult Use stores may help reduce the illicit cannabis marketplace.