With the passage of Amendment 2, the medical cannabis (marijuana) industry will boom in Missouri. Also, with the new Missouri hemp statute and passage of the 2018 Farm Bill, Missouri might retake its former position as the largest grower of hemp in the country. These brand-new industries require the retention of strategic advisors with knowledge and experience in a variety of practice areas. The added complexity of cannabis/marijuana remaining illegal at the federal level under the Controlled Substances Act makes this even more essential.
CECB is not new to the medical cannabis landscape. The head of the Medical Marijuana and Hemp Law Group, Chip Sheppard, played an integral role in bringing medical cannabis to Missouri as a Board Member of New Approach Missouri, the group behind the passage of Amendment 2. Mr. Sheppard assisted in the significant revisions of Amendment 2, and continues to be integrally involved in the development of this new industry as a Board member of the Missouri Medical Marijuana Trade Association a/k/a MoCannTrade, and member of its Governmental Affairs Committee, which is charged with proposing regulatory oversight to the Missouri Department of Health on behalf of its members.
As a Springfield, Missouri based firm CECB can offer cost effective guidance to those directly or indirectly involved in the growth, manufacture/extraction, dispensing, testing and transportation of marijuana, as well those providing ancillary services. There are a number of unique aspects of this industry (disallowance of certain tax deductions under 26 U.S.C. §280E, banking challenges, and federal illegality to name a few) that make use of advice and/or documents applicable to a typical non-marijuana business relationship or transaction inadvisable.
With the amount of work and detail that will be necessary in the creation and submission of competitive cannabis license applications, followed by continued compliance with newly created cannabis regulations, and navigation of the other novel legal issues created by this new industry , it is essential that anyone interested in cannabis/marijuana obtain knowledgeable legal guidance and consulting.
CECB can provide assistance in a variety of areas, including:
- Drafting and submission of competitive cannabis license applications;
- Planning and zoning;
- Real Estate;
- Selection of Proper Locations;
- Entity choice and formation;
- Licensing and Applications;
- Tax including 280E issues;
- Tax planning;
- Regulatory compliance;
- Security planning;
- Intellectual Property Protection;
- Labor and Employment;
- Litigation/dispute resolution;
- Environmental compliance;
- Negotiation and preparation of contracts between cannabis businesses and vendors, property owners, and ancillary businesses;
- Business Model Development;
- FDA Compliance;
- Product Warnings, Labeling, & Packaging;
- Succession planning.