By Sam Reisman

Colorado's marijuana regulator used an "unlawful" method for calculating average market rates of cannabis that resulted in inflated excise taxes being assessed against state-licensed operators, a proposed class action filed Thursday in Denver state court alleges.

By Molly Moses

A careful reading of the law shows marijuana is not, as the IRS argues, a controlled substance under federal law, a New Mexico cannabis dispensary operator told the U.S. Tax Court in support of its business expense deductions claimed during 2017 through 2019.

By Sam Reisman

Virginia Gov. Abigail Spanberger's veto of legislation to tax and regulate the sale of adult-use cannabis will keep the commonwealth in a state of cannabis legal limbo for the foreseeable future.

By Dimitri Mastrocola

Candidates for general counsel roles at private equity-backed portfolio companies should prioritize proving their sector-specific experience, commercial judgment and ease with uncertainty — and attorneys hoping to be candidates in five to 10 years should start working on those skills now, says Dimitri Mastrocola at Major Lindsey.

By Jonathan Capriel

Investors have agreed to end a lawsuit against the former CEO of cannabis firm Devi Holdings Inc., claiming the executive and early investors hid over $13 million in unpaid taxes to induce $25.9 million in stock purchases that later became worthless, according to a Florida federal judge's order.

By Sam Reisman

Multistate cannabis operator TerrAscend erroneously received more than $8 million in tax refunds that should never have been issued because of a federal law that bars traffickers in controlled substances from taking business deductions, the U.S. government said in a new lawsuit.