Month: June 2024

Federal Laws

New Opportunities for Pre-Roll Segment

The pre-roll industry is set for a transformation with the potential rescheduling of cannabis to Schedule III. This change promises significant tax savings, attracting new consumers, and fostering innovative product development. By removing the 280E tax code, pre-roll manufacturers can reinvest in their businesses, enhance product quality, and ramp up marketing efforts. The shift will also make cannabis research more accessible, leading to new insights and products. However, the key to success in this evolving landscape will be maintaining product consistency and preparing for future interstate commerce.

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401(k) Plan Availability

Cannabis Industry Faces Crucial Deadline for 401(k) Plans

Recent news of imminent changes affecting the 401(k) offerings for the cannabis industry undoubtedly have many businesses on edge. A notable shift in custodial vendors’ coverage offerings has led to many cannabis companies receiving termination notifications of company 401(k) plans, with pressing schedules for removal of funds on June 30, 2024, and July 31, 2024.

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