Business Licensing Difficulties, Lending Pitfalls, Taxation Hurdles, and More
Medical marijuana creates numerous opportunities for investors, business owners, healthcare providers and patients with qualifying conditions. It also creates a myriad of potential legal problems for those who fail to take into account the fact that marijuana remains a Schedule I controlled substance under federal law. It is essential that attorneys advising medical marijuana businesses, patients and healthcare providers have a firm understanding of state and federal laws, as well as business licensing procedures, taxation difficulties, financing pitfalls and more. Confidently navigate the many intricacies of medical marijuana law - register today!
- Advise prospective medical marijuana business owners on the in's and out's of licensing and compliance.
- Ensure dispensaries properly test and package medical marijuana edibles and other products.
- Appraise current banking difficulties for medical cannabis companies, and find alternative solutions for clients' financing problems.
- Employ creative tax strategies to offset the inability of medical marijuana businesses to deduct business expenses.
- Understand what conditions qualify patients for medical marijuana prescriptions.
- Distinguish between the ethical considerations of helping a business obtain a medical marijuana license and enforcing license rights.
All times are shown in Eastern time
- Obtaining Medical Marijuana Business Licenses: Overcoming Hurdles
11:00- 12:00, Jeffrey Gard
- Types of Authorized Businesses: Dispensaries, Cultivation Facilities, etc.
- Persons Prohibited from Owning and Operating Cannabis Businesses
- Necessary Background Checks for Owners and Employees
- Necessary Start-Up Funds
- Complying with Zoning Requirements
- Appeals for License Denials
- Overcoming Property Leasing Difficulties for Marijuana Businesses
- Handling License Renewals
- Essential Business Considerations for Medical Marijuana Dispensaries
12:15 - 1:15, Steven M. Schain
- Marketing Restrictions for Marijuana Dispensaries
- Verifying Patient Information and Dosage Amounts
- Security and Control Requirements for Dispensaries and Producers
- Product Preparation and Packaging Requirements
- Product Testing Requirements
- Complying with State Inspection Requirements
- Obtaining Trademarks
- Reporting Duties to the State Licensing Authority
- Negotiating Third Party Agreements with Cultivators, Managers, etc.
- Vending Machines
- Financing Difficulties for Lenders and Marijuana Businesses
1:45 - 2:45, Steven M. Schain
- Legal Implications for FDIC-Insured Banking Institutions
- Implications for Ancillary Business Service Providers
- Secured Real Estate Lenders and Lien Rights
- Due Diligence and Risk Assessment Mandates for Financial Institutions
- Obligation to Prepare Suspicious Activity Reports (SAR) and How They are Categorized
- Current and Proposed State and Federal Legislation
- Securing Alternate Sources of Financing: What are the Options?
- Medical Marijuana Business Taxation: Strategies to Overcome Current Difficulties
2:45 - 3:45, Brian F. Huebsch
- Internal Revenue Code Section 280E and Business Deductions
- Business Diversification Tactics: A Detailed Tax Analysis
- Inventory Capitalization Strategies to Reduce Tax Burdens
- State Medical Marijuana Taxes: Ensuring Correct Calculations
- Appropriate Bookkeeping Practices to Avoid Audits
- Patients, Caregivers and Physicians: Ensuring Legal Compliance
4:00 - 5:00, Jeffrey Gard
- Qualifying Conditions for Medical Marijuana Prescriptions
- Obtaining Patient Registry Cards: Exclusions, Fees and Other Key Considerations
- Authorized Caregivers: Determining Eligibility
- Requirements and Liabilities for Physicians
- Where Can Patients Consume Medical Marijuana?
- Employment-Related Concerns for Patients
5:00 - 6:00, Brian F. Huebsch
- Securing Licenses vs. Enforcing Rights of Licenses
- Duty to Pursue Justice
- Advising on Business Operations
- Conflicts with Federal Law
- Criminal Law Considerations
- Ownership of Cannabis Businesses
This course is designed for attorneys. Accountants, banking professionals, medical marijuana business investors, and paralegals may also benefit from attending.