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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. …
On October 5, 2021, the Cannabis Control Board (“CCB”) held its first public board meeting where the nominations to serve on the CCB as well as the Chief Equity Officer of the Office of Cannabis Management (“OCM”) where approved and changes to New York’s medical cannabis program were implemented. The CCB approved Jessica Garcia, Reuben …
The Firm is proud to announce that Matthew D. Wagoner and Mark J. Wagner, Jr., have been named in the 2021 Upstate New York Super Lawyers and Rising Star Lists. Matt was listed as a 2021 Upstate New York Super Lawyer for his work in business litigation and Mark was listed as a 2021 Upstate New York Rising …
New York continues with its efforts to push the cannabis industry forward with new nominations to the Cannabis Control Board (the “CCB”). The CCB is tasked with overseeing the legal marijuana and hemp markets in New York and implementing the Marijuana Regulation and Taxation Act (“MRTA”). On September 8th, Assembly Speaker Carl Heastie appointed attorney …
Just over a week after being sworn in as New York’s Governor, Kathy Hochul made two nominations for the State’s top cannabis officials. The Governor has made clear during her short time in office that moving the cannabis industry forward will be a focus of her administration. The New York State Senate’s confirmation of these …
Matthew has joined the Firm as an Associate Attorney. He recently graduated magna cum laude from Albany Law School. While in law school, he served as a research assistant to Professor Patrick M. Connors, the author of New York Practice. Matthew also participated in the Domenick L. Gabrielli Appellate Advocacy Competition and was selected to …
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