Corporate Law and Governance

How to Get In the Legal Cannabis Industry Without Being a Supplemental Applicant 

2020-01-16T10:53:26-05:00January 17th, 2020|

The supplemental individual prequalification application for a medical cannabis facility license consists of 8 disclosures, including: 1 year of financial information, 3 years of tax compliance, criminal history, 7 years of litigation history, and more. The supplemental individual prequalification for an adult-use/recreational marijuana business has fewer requirements such as disclosure of 12 months of tax [...]

What is the 10% Rule for Michigan Cannabis Licenses? 

2019-11-14T10:56:44-05:00November 13th, 2019|

All Michigan cannabis licenses start with a prequalification application. Prequalification is the State of Michigan’s background check process for entities and individuals hoping to own and operate marijuana establishments. Prequalification involves a significant audit and review of the applicant entities financial and operational history, as well as a review of all significant stakeholders and their [...]

Annual Financial Statements Required by the MRA for FY 2019

2019-12-09T15:23:12-05:00November 11th, 2019|

The Michigan Marijuana Regulatory Agency (MRA) recently issued a bulletin to announce the required annual financial statements for fiscal year 2019, pursuant to Section 701 of the Medical Marihuana Facilities Licensing Act (MMFLA). This much anticipated guidance outlines the financial reporting requirement for licensees. Filing the Annual Financial Statements Per the MRA bulletin, requirements for [...]

Adult-Use Marijuana Applications Are Now Being Accepted

2019-10-31T15:39:34-05:00October 31st, 2019|

Today on Nov. 1st, 2019, the Marijuana Regulatory Agency (MRA) began accepting adult-use applications for marijuana licensing under the Michigan Regulation and Taxation of Marihuana Act (MRTMA). This was passed by the voters of the state of Michigan in November 2018. Similar to the process for medical marijuana application approval, the MRA will be utilizing [...]

Employee Background Checks for Cannabis Business Licensees

2019-10-15T12:58:09-05:00October 15th, 2019|

On Oct. 9, 2019, the Marijuana Regulatory Agency (MRA) released a bulletin advising all licensees on the hiring process of prospective employees. Can a licensee hire an employee with a felony? All licenses, including adult-use establishment licensees, must conduct background checks on all prospective employees before hiring them according to section 405 of the Medical Marijuana Facilities [...]

Register for Our Marijuana Event

2019-09-17T09:00:55-05:00August 26th, 2019|

Are you, or are you about to be, a marijuana facility license holder in the State of Michigan? If so, you should be interested in information and advice about how to maximize your cannabis business’ potential success. The ‘Cultivating A Successful Cannabusiness’ seminar, presented by Cannabis Legal Group, is for cannabis business licensees and especially those whom [...]

Why Your Cannabusiness LLC May Want To Be Taxed as a C Corporation

2019-08-02T08:57:55-05:00July 25th, 2019|

The Limited Liability Company (LLC) is a flexible business structure that offers limited liability protection to its owners. For many business owners, it is a preferred type of business entity because it is generally cheaper and easier to set up a LLC, you can structure it to be member-managed or manager-managed, and it avoids the “double [...]