Effective January 1, 2017, neither medical marijuana patients, nor their licensed caregivers, nor cooperative cannabis cultivations will be allowed to sell excess medical cannabis to dispensaries, known as Compassion Centers. Only licensed cultivators, a newly created...
PLDO Law Blog
Firm News
Be Wary of Tax Laws Concerning IRAs
This past June, the IRS issued a Private Letter Ruling (201623001) which impacts surviving spouses in community property states. The decedent and the surviving spouse were married in 2004 and lived in a community property state. They had a son, whom the decedent named...
New Guidelines for Private Management Contracts
In a move that should help facilitate public-private partnerships ("P3s"), the Internal Revenue Service has issued new 'safe harbor' guidelines for private management contracts involving bond-financed municipal assets. Revenue Procedure 2016-44, issued August 22,...
Succession Planning: Confronting the “What’s Next” Question in a Family Business
The "what's next" stage in the family business owner's life is challenging in that decisions have to be made in terms of succession to family members or selling the business and retiring. Yogi Berra would say that when you arrive at this fork in the road, "take it."...
“FRUSTRATION OF PURPOSE” DISCHARGES COMMERCIAL TENANT’S RENT OBLIGATION
While specificity is typically a good thing in contract drafting, sometimes, too much specificity can backfire. A commercial landlord in Boston discovered this recently when the Suffolk County Superior Court discharged rent otherwise owed by a cafe operator during the...
IS 2021 THE YEAR FOR RHODE ISLAND? SMOKE SIGNALS POINT TO CANNABIS ADULT USE LICENSING
In 2017, the State of Rhode Island expanded its medical marijuana program by creating a licensing process for the cultivation and manufacturing of cannabis and cannabis products for sale at the State’s three sanctioned compassion centers. By all accounts – industry...
A “NATURAL DISASTER” – THE PANDEMIC’S IMPACT ON CONTRACTS
Early in the COVID-19 pandemic, we wrote about the legal concept of “force majeure” clauses found in some business contracts. A force majeure clause excuses a party from performing its obligations under a contract based upon some unforeseen and serious event such as a...
IMPORTANCE OF CORPORATE GOVERNANCE DURING THE PANDEMIC
It is widely recognized that the system of corporate governance is a key approach to preserving and protecting an enterprise and its stakeholders by checks and balances among the board and officers of a corporation. Strong governance policies make it possible to...
IS 2021 THE YEAR FOR RHODE ISLAND? SMOKE SIGNALS POINT TO CANNABIS ADULT USE LICENSING
In 2017, the State of Rhode Island expanded its medical marijuana program by creating a licensing process for the cultivation and manufacturing of cannabis and cannabis products for sale at the State’s three sanctioned compassion centers. By all accounts – industry...
