Yesterday, October 9, the Missouri Department of Agriculture released proposed rules for the Missouri Industrial Hemp Program. These rules, required by Missouri Senate Bill 133, will amend existing regulations and transition Missouri’s hemp program from a research program authorized under the 2014 Farm Bill to a full industrial program authorized under the 2018 Farm Bill.
Yesterday, in a historic vote, the U.S. House of Representatives overwhelmingly passed the Secure and Fair Enforcement (“SAFE”) Banking Act (House bill HR 1595), which would essentially provide state-legal marijuana businesses with full access to banks and other financial services, as well as allow consumers to use credit and debit cards when buying legal marijuana.
Kennyhertz Perry, LLC Attorney Jon Dedon was recently featured on 41 Action News regarding the medical marijuana industry in Missouri. It’s currently illegal to transport marijuana seeds into the state, and growers need to acquire seeds in order to start their potential businesses. You can watch the story in the link below: https://www.kshb.com/news/local-news/unofficial-immaculate-conception-policy-turns-blind-eye-on-transporting-marijuana-seeds-into-mo About Kennyhertz
It is a popular misconception that the 2018 Farm Bill legalized the interstate transportation of hemp. The 2018 Farm Bill legalized the interstate transportation of hemp only for hemp produced in compliance with a state’s industrial hemp program that has been approved by the USDA. Because the USDA hasn’t approved any such programs (or issued
The FDA could begin enforcement actions against companies that manufacture, market, or sell CBD products as soon as this fall. Previously, the FDA indicated that it was “expediting” its efforts to develop a comprehensive approach to CBD, which it hoped to release by fall. Last week, the head of the FDA’s division on CBD policy
Kansas Department of Revenue issues notice requiring any seller providing goods or certain services in Kansas to register, collect and remit state sales tax beginning October 1, 2019
On August 1, 2019, Kansas issued Notice 19-04 that requires any remote seller, regardless of physical presence, to register, collect and remit sales taxes on any sales of tangible personal property and/or certain services in Kansas. This notice interpreted K.S.A. 79-3702(h)(1)(F) “to the fullest extent permitted by the law.” As provided in the Notice, “Kansas
IRS Intends to Notify More Than 10,000 Taxpayers with Unreported Cryptocurrency Transactions by the End of August
As detailed in this IRS news release today, the IRS has begun sending letters to taxpayers with virtual currency transactions that may have resulted in tax liabilities. This notice provides: “Taxpayers should take these letters very seriously by reviewing their tax filings and when appropriate, amend past returns and pay back taxes, interest and penalties,”
The Federal Reserve Board, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission announced yesterday that they adopted a final rule to exclude community banks from the Volcker Rule, consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act.
“Kennyhertz Perry attorney Jon Dedon recently appeared on the State Your Line podcast to discuss medical marijuana in Missouri. The discussion ranged from how to set up Missouri marijuana dispensaries and cultivation facilities, to how to apply for medical marijuana identification cards, to how employers should deal with employees who are licensed to use marijuana
As detailed in a recent Forbes article, an experienced IRS Special Agent and cyber-crime coordinator for IRS Criminal Investigation reiterated that taxpayers should not fail to report or use cryptocurrencies to evade their taxes liabilities. As previously disclosed in IRS Criminal Investigation’s 2018 Annual Report (as well as in other publications and statements at other
Many Missourians planning on applying for medical marijuana dispensary, extraction, and/or cultivation licenses looked forward to June 4, 2019 with anticipation. On that date, the Missouri Department of Health and Senior Services was required by Article XIV of the Missouri Constitution to “make available to the public license application forms and application instructions for medical
Private Industry Notification (PIN) 20190530-001 was being distributed to make private sector partners aware of business email compromise/business email spoofing (BEC/BES) scams where cyber criminals are targeting the West Texas Oil and Natural Gas industry through email phishing, malware attacks, and unauthorized access for financial gain. The alert was released as TLP: Green and the