Cannabis Tax Refunds

INSIGHTS ON AMENDING RETURNS & NAVIGATING LEGAL CHANGES

Insights on Amending Returns and Navigating Legal Changes

Join Justin Botillier and Jamie Jorgenstone as they delve into the complexities of amending tax returns in the cannabis industry. This timely webinar comes as cannabis businesses look to amend their returns for refunds impacted by the infamous Section 280E of the tax code. The session shines a light on the potential rescheduling of cannabis and explores the constitutionality of the Controlled Substances Act in state-regulated markets.

Justin and Jamie provide expert analysis on how past court decisions and the current legal landscape could impact your business’s ability to reclaim lost deductions. They discuss the critical aspect of managing audits and leveraging legal precedents effectively. The webinar is an essential resource for cannabis business owners and legal professionals seeking to optimize their tax strategies and maximize potential refunds.

Don’t miss this opportunity to gain invaluable insights from experienced professionals on navigating the evolving tax rules affecting the cannabis industry. Whether you’re refining your approach to tax liabilities or exploring ways to challenge unjust fiscal policies, this session offers practical advice and strategic perspectives.

 

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Psychedelics Oregon

CALIFORNIA’S PIONEERING LEGISLATION FOR PSYCHEDELIC THERAPY

California’s Pioneering Legislation for Psychedelic Therapy

In an era where mental health innovation is more crucial than ever, California stands at the forefront of a transformative shift. The recent passage of Senate Bill 1012, introduced by Sen. Scott Wiener, marks a significant development in the use of psychedelics for therapeutic purposes. Here’s a deep dive into what this groundbreaking legislation entails and its potential ripple effects, particularly for states like Oregon.

A New Dawn for Psychedelic Therapy

Under SB 1012, California is set to establish regulated service centers where adults aged 21 and older can access substances such as psilocybin, MDMA, mescaline, and DMT in a professionally supervised setting. This initiative, aptly named the “Regulated Therapeutic Access to Psychedelics Act,” is not merely about accessibility but is structured to ensure safety and efficacy through stringent oversight (Marijuana Moment).

The Framework of Regulation

The proposed service centers will operate under the aegis of the newly formed Division of Regulated Psychedelic Substances Control within the California Department of Consumer Affairs. This division will oversee the training and licensing of facilitators who must hold medical licenses, thereby ensuring that participants are in capable hands. This regulatory mechanism aims to foster a safe environment for those exploring psychedelic therapies as avenues for profound healing (KQED).

Health Safeguards and Accessibility

Participants in the program will undergo thorough health and safety screenings to tailor their experiences safely. The bill interestingly does not limit access to individuals with predefined medical conditions, broadening the potential benefits to a wider audience. It also emphasizes the importance of follow-up care, which includes integration services to help individuals process their experiences meaningfully (The Marijuana Herald).

The Broader Implications

Proponents of the bill argue that psychedelics hold immense potential in treating conditions resistant to conventional treatments, such as severe depression and PTSD. This legislation comes in response to Governor Gavin Newsom’s earlier veto of a more extensive decriminalization bill, signaling a cautious but progressive approach towards psychedelic therapy. The governor’s guidance has shaped this legislation to focus more narrowly on therapeutic use, ensuring that it’s paired with appropriate safety protocols (Marijuana Moment).

What This Means for Oregon and Beyond

California’s legislative advancements serve as a potential blueprint for other states, including Oregon, which has shown interest in similar reforms. The Oregon community, particularly businesses and healthcare providers, should closely monitor California’s rollout and outcomes to adapt and prepare for possible legislative shifts in their state. This movement isn’t just about changing laws but is a part of a larger shift towards integrating more holistic and progressive treatments into mental health care (DoubleBlind Mag).

As this bill progresses through further legislative stages, it will be crucial to watch how it influences not only the landscape of mental health treatment in California but also sets a precedent for other states considering similar pathways. For professionals and businesses in the cannabis and psychedelic sectors in Oregon, staying informed and prepared is key to navigating the potential changes that might come with such legislative models.

In essence, California’s move towards regulated psychedelic therapy is a beacon of innovation in mental health care, providing a glimpse into a future where these powerful substances are harnessed safely and effectively to heal and transform lives.

SOFF

SOUTHERN OREGON FAMILY FARMS CO-OP

Justin Botillier, the CEO of Calyx CPA in Medford, Oregon, shares his insights and personal journey within the cannabis industry. His commitment to cannabis legalization began with his high school senior project, and has since evolved into a professional and passionate advocacy.

Calyx CPA, under Justin’s leadership, is dedicated to serving the cannabis industry, mirroring his commitment to justice and community support. He points to Southern Oregon as a historic hub for cannabis cultivation, with Southern Oregon Family Farms (SOFF) leading the charge. 

This region is celebrated for its deep-rooted knowledge, sustainable farming techniques, and the high efficacy of its cannabis products, making them some of the finest on the global stage. 

SOFF is particularly noted for its commitment to environmentally friendly outdoor cultivation, which utilizes natural resources like sunlight and soil. This method not only minimizes the environmental footprint but also highlights the unique advantages Southern Oregon offers over other regions.

Despite the flourishing industry, Justin underscores the significant challenges it faces, such as bureaucratic obstacles and widespread misinformation among consumers. These threats undermine the sustainability and growth of local cannabis farms.

Justin calls for robust community engagement and support for the industry’s mission. He emphasizes that backing this cause is more than just community investment; it’s an investment in the collective future. Such support is vital for the cannabis industry in Southern Oregon to thrive, ensuring it remains sustainable and prosperous for generations to come.

 

 

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INTERVIEWING BRITT ROLLINS, CEO OF THE NATIONAL PSYCHEDELICS ASSOCIATION

Navigating the Psychedelics Industry: How the National Psychedelics Association is Pioneering Change

The Psychedelics Industry, once a fringe sector, has rapidly evolved into a significant area of interest for both investors and healthcare professionals alike. At the forefront of this burgeoning industry is the National Psychedelics Association (NPA), a pioneering body dedicated to facilitating the growth and regulatory navigation of psychedelic-related businesses. The NPA plays a crucial role in addressing both the opportunities and challenges encountered by those within this space, particularly in relation to financial services, business solutions, and legislative advocacy. This article delves into the comprehensive efforts of the NPA to support the psychedelics community and foster an environment conducive to the sector’s sustainable development.

Introduction to the National Psychedelics Association

The National Psychedelics Association (NPA), established with the vision of supporting the evolving needs of the psychedelics industry, serves as a beacon for those navigating the complex landscape of psychedelic substances. With a focus on promoting safe, ethical, and legal access, the NPA provides invaluable resources, including regulatory guidance, business support, and educational services. As the industry burgeons, the association’s role in uniting businesses, researchers, and enthusiasts becomes increasingly vital, ensuring the psychedelic movement progresses with integrity and professionalism.

Challenges with Banking and Financial Services

One of the most pressing obstacles faced by businesses within the psychedelics industry is the limited access to banking and financial services. Given the legal ambiguities and evolving regulations surrounding psychedelics, many financial institutions are hesitant to engage with businesses in this sector. This hesitancy can stifle growth, limiting companies’ abilities to secure funding, process payments, and manage operations efficiently. Recognizing these challenges, the NPA actively works with stakeholders to bridge the gap, advocating for clearer regulations and fostering relationships with financial institutions open to supporting the industry.

Efforts to Provide Business Solutions

In response to the unique demands of the psychedelics market, the National Psychedelics Association has embarked on a mission to deliver targeted business solutions. These efforts include offering strategic advice, facilitating networking opportunities, and providing insights into best practices for navigating the market. Furthermore, the NPA is instrumental in advocating for changes that could alleviate some of the financial and operational burdens on businesses, aiming to cultivate a thriving and competitive industry landscape.

Support for Service Centers

Service centers, such as therapeutic clinics and research facilities, constitute a critical component of the psychedelics ecosystem. The NPA recognizes the challenges such establishments face, from regulatory hurdles to logistical complexities. To address these issues, the association offers tailored support encompassing regulatory compliance, staff education, and community-building initiatives. This comprehensive approach ensures that service centers can deliver their invaluable services effectively and within legal bounds.

Guidance for Industry Professionals

The evolving landscape of the psychedelics industry necessitates continuous learning and adaptation by its professionals. The National Psychedelics Association acknowledges this need by providing a plethora of educational resources, workshops, and seminars geared towards enhancing the knowledge and skills of industry participants. By equipping professionals with the latest information on legislation, research, and market trends, the NPA empowers individuals to navigate the industry with confidence and contribute positively to its development. In conclusion, the National Psychedelics Association stands at the vanguard of the psychedelics movement, tirelessly working to address the sector’s multifaceted challenges while promoting growth and innovation. Through its comprehensive support services and advocacy efforts, the NPA is pioneering change, laying the groundwork for a future where the psychedelics industry flourishes, benefiting individuals and society at large.

NAVIGATING THE COMPLEXITIES OF 280E, 471(C), CHAMP, & STRATEGIES FOR PSILOCYBIN SERVICE CENTERS.

Insights into Oregon’s Psilocybin Service Centers

Enlightening Insights into Oregon’s Psilocybin Service Centers

In this enlightening conversation, Justin Botillier, CEO of Calyx CPA in Medford, Oregon, alongside Michael Brooks, who is venturing into Oregon’s burgeoning psilocybin industry, delve deep into some of the most pressing questions faced by psilocybin service centers today.

Addressing IRS Code Section 280E and Its Implications

Addressing the intricacies of Section 280E of the IRS code, they explore its profound implications on the psilocybin industry, particularly service centers, drawing parallels and distinctions with the cannabis industry’s ongoing struggle.

Comprehensive Strategies to Mitigate 280E’s Impact

With a comprehensive analysis, Justin provides a thorough breakdown of the strategies to mitigate 280E’s impact, including the use of 471(c) and the CHAMP (Californians Helping to Alleviate Medical Problems) case as pivotal references for tax planning and business structuring.

Selecting the Appropriate Business Entity

Furthermore, the discussion covers the essential considerations for choosing the appropriate business entity, emphasizing the unique challenges and opportunities within the psilocybin sector.

Navigating Banking and Financial Operations

They also touch upon banking difficulties, offering practical advice for navigating financial operations amidst federal restrictions.

Understanding the Federal Climate and Potential Changes

Justin sheds light on the current federal climate surrounding 280E and the potential for significant legal and regulatory changes, highlighting the importance of strategic planning and robust record-keeping.

This video is a must-watch for anyone involved in or considering entering the psilocybin industry, offering valuable insights into tax strategies, business planning, and the evolving federal landscape. Whether you’re an established service center, a newcomer, or simply interested in the intersection of psychedelics and business, this discussion provides critical knowledge and guidance to navigate the complexities of operating within this unique and transformative space.