With three bills proposing an end to federal cannabis prohibition, and creating a system of regulation, it’s clear that Congress is serious about enacting a comprehensive reform of cannabis policy.
All of these cannabis reform bills would put the U.S Department of Treasury’s Alcohol and Tobacco Tax and Trade Bureau (TTB) in charge of regulation. The proposals would grant TTB the authority to regulate the cannabis industry in a manner similar to how they have been regulating the alcohol and tobacco industries for decades.
Although the bills vary somewhat, each one would require most state legal cannabis businesses to obtain a federal license to continue to operate. Operating a cannabis business without a license could lead to your business being shut down, and in extreme cases criminal penalties up to five years.
In the most recent edition of the “State of the Plant”, the Verde Compliance team discusses the need for cannabis businesses to begin preparation for looming federal regulation. With your business on the line, preparing early and working with an experienced team, is the best road to success.
Click the link below for tips on how to prepare for federal cannabis regulation, and learn why experience matters:
State of the Plant Vol. 3 “Federal Cannabis Regulation – With Your Business on the Line, Experience Matters”
Verde Compliance Partners is a national consulting firm focused on guiding clients through federal cannabis permitting, taxation, and regulatory compliance. Our firm prepares and navigates cannabis growers and processors through the regulatory, legal, and administrative requirements necessary to comply with current and future federal regulations. With decades of experience in high level positions in the U.S. Tax and Trade Bureau (TTB), and it’s predecessor, the Bureau of Alcohol, Tobacco, and Firearms (BATF), Verde is uniquely qualified to prepare cannabis industry stakeholders for the implementation of federal regulation.