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Find Cannabis Reports at the High Times Cannabis Cup in San Francisco, June 18-19

The High Times Cannabis Cup is returning to San Francisco on June 18th and 19th, and this year is set to be incredibly exciting. High Times hosts these competition and expositions all around the world, and each event sees thousands of patients and enthusiasts in attendance. Tickets are available now at CannabisCup.com.

The Cannabis Reports team loves to cover the Cannabis Cup for a number of reasons. Hundreds of brands, cultivators, and dispensaries take great care to set-up their booths, which creates an environment of exploration and discovery for the patients who show up. Check out our past coverage of the Cannabis Cup, most recently in San Bernardino, CA.

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The educational opportunities presented by High Times are also highly anticipated. The cannabis industry is evolving rapidly, and Cannabis Reports spends a lot of energy documenting these shifts so that patients and businesses alike can see the trends that will affect us all.

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Jay and Jacob of Cannabis Reports will be at the Cow Palace covering the event on both Saturday and Sunday. Please feel free to email [email protected] if you would like to participate in our process of interviewing businesses and attendees.

Who Else is Going to Be at the Cow Palace This Weekend?

High Times knows how to throw a fun event, which is clearly evident since they booked Big Gigantic to perform at the San Francisco Cannabis Cup.

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Everyone interested in cannabis is encouraged to attend such an enlightening and entertaining event. But don’t just take our word for it! Check out what others are saying about the upcoming Cannabis Cup.

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For the most up to date info on Cannabis Reports, follow us on Twitter, and like us on our Facebook page.

Landmark Cannabis Court Battle: Harborside Health Center Takes on IRS and Revenue Code 280E

Harborside Health Center is nationally recognized as a leading example of a responsible cannabis business. In May 2016, the Department of Justice dropped a four year attempt to seize Harborside property after the city of Oakland rallied behind founder Steve DeAngelo and his hyper-successful retail operation.

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Beginning today, June 6th, lead Harborside attorney Henry Wykowski returns to the SF Federal Building court room to fight one of the most detrimental aspects prohibiting the success of legal cannabis: Internal Revenue Code 280E.

U.S. Code § 280E: “No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of trafficking in controlled substances (within the meaning of schedule I and II of the Controlled Substances Act) which is prohibited by Federal law or the law of any State in which such trade or business is conducted.”

The cannabis industry has been well aware of IRC 280E, and this week’s court battle aims to highlight how this particular tax code should not be applicable to legal cannabis businesses. IRC 280E has resulted in a back tax bill of $2.4 million for Harborside Health Center.

“Section 280E was passed during the height on the War on Drugs, many years before California and twenty-four other states legalized the use of medical cannabis,” said Henry Wykowski, lead attorney for Harborside Health Center. “It was meant to apply to drug dealers, not state-sanctioned cannabis dispensaries. Ignoring the intent of Congress, the IRS has chosen to apply 280E to legitimate cannabis businesses.”

Many experts believe that Wykowski’s plan is to attack the federal definition of cannabis companies. Currently, cannabis retailers are considered as “Drug Trafficking Organizations,” despite being providers of a state-approved controlled substance.

Henry Wykoski, Lead Attorney for Harborside Health Center

Henry Wykoski, Lead Attorney for Harborside Health Center

The Internal Revenue Service’s imposition of IRC 280E on cannabis businesses prohibits legal entities from writing off normal business expenses on their tax deductions. Cannabis Reports has previously detailed the ramifications of IRC 280E in a whitepaper discussion.

Ultimately, tax law is up to the discretion of Congress, and is not subject to enforcement exemptions. With IRC 280E, the intention of Congress is very clear: no tax exemptions for businesses working with Schedule I or II substances.

Steve DeAngelo, Harborside Health Center

At this point, it seems that Congress must re-legislate a cannabis exception to 280E, or the DEA must re-schedule cannabis to Schedule III so that 280E no longer applies.

Congress has certainly approved scheduling exceptions in the past, most notably with tobacco and alcohol, which kill a combined 558,000 people a year according to the Center for Disease Control and National Institute of Health .[1][2]

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Cannabis has never been ruled as a direct cause of death in the history of modern medicine, yet remains listed as a Schedule I drug with no “proven” medical efficacy and a high risk for addiction.

For the most up to date info on Cannabis Reports, follow us on Twitter, and like us on our Facebook page.

[1] Center for Disease Control and Prevention. Feb 2016 Infographic: http://www.cdc.gov/tobacco/data_statistics/fact_sheets/health_effects/tobacco_related_mortality

[2] NIH: National Institute on Alcohol Abuse and Alcoholism. Jan 2016 Statistics: https://www.niaaa.nih.gov/alcohol-health/overview-alcohol-consumption/alcohol-facts-and-statistics

GreenRush Job Fair in SF: Over 2,500 Attendees Seeking Jobs in the Cannabis Industry

On Apil 30th, 2016, GreenRush hosted a job fair at the Regency Ballroom in San Francisco. The job fair, aptly titled as “Join the Green Rush,” provided an open opportunity for jobseekers to introduce themselves to over thirty different cannabis businesses.

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Cannabis Reports was thrilled to participate in the event, and we want to extend a huge thank you to Jude Ignatius, Eddie Miller, and the entire GreenRush team for hosting such an effective and fun convention.

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By the time the event opened its doors just after 10am, the line was already wrapping around the block. Through the day on Saturday, over 2,500 people attended the job fair. The day was a major success, with several individuals receiving employment opportunities on the spot. (One North Bay retailer, Earthly Wellness, allegedly hired at least three people on the spot!)

The Calm Before the Rush

The Calm Before the Rush

Join the Green Rush was an effective job fair for several reasons, mainly because the companies with booths were actually filling positions. One attendee, who wished to remain anonymous, was thrilled to see that companies were accepting resumes and actually having conversations with jobseekers.

“Normally with these [job fairs], companies just want to advertise to people and they don’t even have any [jobs] open. I came today with a bunch of resumes, got in with my free ticket, and actually feel like the [companies] were taking me seriously.”

-Job Fair Attendee

Future job fairs take note: people are sick of being tricked into paying good money for the hope of finding a job. Ticket pricing was another important success over the weekend. Entrance was $4.20 and there were several widely-circulated discount codes for free entry. This low financial barrier attracted thousands of people to the fair.

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Another reason the event was universally enjoyable was that all of the businesses in attendance were friendly, enjoyable, and responsible actors in the cannabis industry. The overall tone of the event was a positive future where cool companies could employ ambitious and qualified individuals.

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David Drake, our founder and CEO here at Cannabis Reports, was interviewed at the event by SFGate for an article on the job fair.

Cannabis Reports wants to share our gratitude for GreenRush, all of the cannabis organizations who set up booths, and of course all of the attendees interested in participating in the emerging cannabis industry.

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Cannabis Reports covers updates and advancements within the cannabis industry and community.

Besides being a fantastic opportunity to interact with prospective employees, the GreenRush Job Fair was also a great place for us to debut our data visualization tool for cannabis genetics, which ended up being incredibly popular among the community.

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For the most up to date info on Cannabis Reports, follow us on Twitter, and like us on our Facebook page.

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