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On April 14, Governor Hochul announced the Cannabis Control Board’s approval of 52 Adult-use Cannabis Conditional Cultivator Licenses, the first such licenses granted in New York State. Congratulations to all of those who received licenses, including our very own Capital Region-based farmers: Phil Spinelli Farrier Service LLC, Aeterna Cannabis LLC, Claverack Farm LLC, Fat Nell …
On Wednesday, February 16, 2022, the New York State Assembly and Senate passed a bill that provides temporary and conditional marijuana cultivator and processor licenses to existing businesses. The licenses will allow for a timely establishment of New York’s adult-use cannabis market by ensuring dispensaries have a product to sell. Hemp growers who are in …
As COVID-19 hits its third wave of the pandemic due to the Omicron variant, it is critical for employers to remain compliant with their obligations under the New York COVID-19 Sick Leave Law (the “Law”). The Law is designed to protect employees who are subject to a mandatory or precautionary order of quarantine issued by …
The Firm’s Mark J. Wagner, Jr., was among a select group of experts chosen from New York State to participate in a Rensselaer County Regional Chamber of Commerce event, Cannabis: An Economic Buzz. The event took place remotely on Thursday, January 13, 2022, and received a tremendous response from local business owners and entrepreneurs. …
The Wagoner Firm successfully defended another Client against claims for breach of contract that sought a preliminary injunction arising out of a cancelled a contract for the purchase of an investment property. The Firm represented the seller of the property. The apartment building was occupied by tenants, and the contract allowed either party to terminate …
During the 2022 New York State of State, Governor Kathy Hochul announced the creation of a $200 million public-private fund earmarked to support social equity applicants seeking to enter New York State’s cannabis industry. The creation of the fund, through private investment, licensing fees, and tax revenue, is to further the state’s initiative to create …
Mark J. Wagner, Jr., will be among several experts participating in Cannabis: An Economic Buzz, a webinar presented by The Rensselaer County Regional Chamber of Commerce on Thursday, January 13, 2022, from 9:00 am to 10:30 am. Additional panel experts include Damian Fagon of the New York Cannabis Growers & Processors Association, Tyler Culberson of NAI …
Congratulations to Matt Baumgartner on the sale of the Albany and Schenectady Wolff’s Biergartens. We are thankful for the opportunity to assist him in these transactions. We wish him the best of luck in his future endeavors and much success to the new owners, Sam Leamy and Dan Henley. https://www.timesunion.com/tablehopping/article/Wolff-s-Biergarten-sale-finally-goes-through-16510377.php
Typically, businesses can claim tax deductions on ordinary and necessary business expenses on their taxable income, however Section 280E of the Internal Revenue Code (“Section 280E”) prohibits cannabis businesses enterprises (“CBEs”) from claiming these deductions and as a result subjects all of their income to taxation. Section 280E was enacted to penalize the trafficking of …
On November 3, 2021, New York’s Cannabis Control Board (the “CCB”) finalized and approved regulations for the Cannabinoid Hemp Program (the “Regulations”), which regulate all products sold in New York that contain cannabidiol, also known as “CBD”. The Regulations create the standards by which manufacturing, testing, packaging, and labeling of CBD products will be governed. …
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