Legalized cannabis – for medical or recreational purposes – is a rapidly expanding industry in the United States, with various states, including California, Colorado, Delaware, Illinois, Maryland, Nevada, New Jersey, New York, Pennsylvania and Washington, as well as the District of Columbia, regulating its use. Navigating the various state compliance regulations – while the consumption of marijuana, regardless of its intended use, is still prohibited at the federal level – can be a daunting task.
Fox attorneys are experienced in counseling legalized cannabis growers, distributors, processors, investors and others, including those supplying ancillary products and services, operating in this highly regulated industry. We represent clients in the formation of business entities and creation of operational plans and shareholder agreements; real estate and land use planning; acquisition of cultivation and dispensary licenses; preparation and filing of forms required by various states; compliance with relevant state regulations; and assistance with U.S. Department of Treasury issues for banking and financial services clients engaged in the industry, and more. We have also advised clients on Illinois’ Compassionate Use of Medical Cannabis Pilot Program Act as well as similar laws in other states where the product is legalized and regulated.
*Please be mindful that possessing, using, distributing and/or selling marijuana is a federal crime, and no legal advice we give is intended to provide any guidance or assistance in violating federal law nor will it provide any guidance or assistance in complying with federal law. Please also note that we are not advising you regarding the federal, state or local tax consequences of engaging in any business in this industry.