Starting a Cannabis Company: Things to Know

The cannabis industry is complex and competitive, but it is also extremely appealing to young entrepreneurs and investors alike as it continues to shift away from negative stigmas and into a more defined regulatory pathway. The rapid growth of the industry attracts cultivators, extractors, retailers, and more, and like many people entering this complicated space, you may feel overwhelmed with where to begin. Whether you’re considering opening a dispensary business, a CBD business, an ancillary cannabis business, or simply obtaining a hemp license, we’ve put together a guide to starting up a cannabis company to further your understanding of the necessary moving parts and details.

Ritter Spencer, PLLCStarting a Cannabis Company: Things to Know
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Merchant Processing In the Hemp/CBD Industry

With the passage of the 2018 Farm Bill and the USDA’s release of the interim final rules, the hemp market continues to grow. As many processing services remain hesitant to service the growing hemp industry due to legal uncertainties, companies continue to face difficulties securing a reliable merchant processor for processing payments for the sale of hemp-derivative products, such as CBD oils and edibles. Though organizations such as Square Inc. and WooCommerce recently have begun to provide processing capabilities and support to legal hemp and CBD sellers, many remain skeptical due to confusion on the legal status of hemp and hemp-derived products.

Ritter Spencer, PLLCMerchant Processing In the Hemp/CBD Industry
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Hemp Lawyer Chelsie Spencer Featured on Better Living with Nick Carissimi on KRLD News Radio

Texas hemp lawyer Chelsie Spencer spends some time on Better Living with Nick Carissimi to discuss the CBD and hemp industries, legalities, and more.

“The industry has made leaps and bounds in the past six to seven years, and as far as legality, we’re seeing a changing landscape both at the federal and state levels,” says Chelsie, as she dives into several specific examples of the challenges she has faced and those that lie ahead for hemp and CBD law. 
With significant experience representing hemp growers, extractors, processors and CBD white labelers across the nation, Chelsie covers a range of critical topics and details for both the average consumer and manufacturer. Listen to the full radio show here.

Ritter Spencer, PLLCHemp Lawyer Chelsie Spencer Featured on Better Living with Nick Carissimi on KRLD News Radio
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An Interview With Tax Attorney Vu Le on IRS 280E

Recently, Ritter Spencer’s Chelsie Spencer sat down with Texas based tax attorney Vu Le to discuss cannabis law and its interaction with IRS 280E. As you will hear Vu discuss in the video, Section 280E of the Internal Revenue Code prohibits medicinal and recreational marijuana companies from deducting normal business expenses, such as payroll and monthly rent costs, from gross income.

Ritter Spencer, PLLCAn Interview With Tax Attorney Vu Le on IRS 280E
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