Latest / NRBC Compliance Brief / Vol. 1, Ed. 80 — Sun Nov 1: Alcohol lobbyists urged AGs to keep hemp ban
Transcript
- This is the New Realm Compliance Brief, Volume 1, Edition 80, for Sunday, November 1. Our top story: Politico reported that lobbyists for Anheuser-Busch, Molson Coors, and Diageo encouraged state attorneys general to sign an August letter asking Congress not to delay, repeal, or weaken the federal hemp THC limits scheduled to take effect December eleventh. Thirty-five state and territory attorneys general signed the letter. On the other side of the debate, Representative Morgan Griffith of Virginia said he wants his hemp regulatory bill added to a reconciliation package before that date, and the National Restaurant Association asked Congress to delay the beverage provisions. In federal news, cannabis businesses are still waiting on tax guidance after April's rescheduling order. The order was expected to lift the section two eighty E bar on ordinary business deductions for medical sales, but the Treasury Department and the I R S listed that guidance among more than one hundred priorities stretching through September of twenty twenty-seven. Advisers quoted in the reporting suggest companies document their cost allocation methods now, ahead of the December fifteenth estimated payment date for C corporations. Also federal: the D E A posted a daily updated list of nearly seven thousand state-licensed marijuana businesses that applied on time for federal registration, including about forty-two hundred dispensaries, seven hundred distributors, and two thousand manufacturers. Timely applicants may keep operating under their state licenses while reviews are pending. Around the states: Massachusetts votes Tuesday on Question Eight, which would end the state's recreational marijuana industry. Spending on the measure has reached nearly six and a half million dollars. And in Alabama, officials said two more medical cannabis dispensaries open this week, bringing the statewide total to five. On the radar: November twelfth, the federal recriminalization of synthetic cannabinoids takes effect. November twenty-ninth is the D E A's supplier sourcing deadline. And December eleventh brings the federal hemp THC limit of four tenths of a milligram per container. Full details and source links are in today's email. This update is for general information only — it is not legal advice.