- CRA’s Fines Eight Cannabis Businesses Over Late Financial Reports
The Cannabis Regulatory Agency recently published their monthly disciplinary reports and eight cannabis businesses across the state have been fined for failing to submit annual financial reports by the required deadline.
Why it Matters: What comes with the territory of operating a business in a highly regulated arena, business owners both medical and recreational will need to be aware of deadlines for required financial reporting of their cannabis business operations.
- Majority of Legislators Could Run Again If Prop 1 Passes
A new analysis from the Citizens Research Council says that a majority of legislators, 89% of the 737 Michigan legislators, could run again for a seat if the Prop 1 (term limits and financial disclosures) ballot proposal passes.
Why it Matters: If this ballot proposal passes, the majority of past legislators have the option of running again for a legislative seat. Fraser Trebilcock election law attorneys will continue to follow and update news surrounding this ballot proposal.
- Importance of Signing an Operating Agreement for Your LLC
It happens more often than individuals think and something small businesses should heed is the need to adopt an operating agreement at the start of your LLC. It may seem like an unnecessary step when you’re starting out but waiting until the time is right or until you get big enough, can often lead to forgetting about it completely.
Why it Matters: Failure to sign an operating agreement for your LLC may lead to issues for your small business that would otherwise be avoided. Learn more from a Fraser Trebilcock attorney on this topic.
- Whitmer Names New Head of Cannabis Regulatory Agency
Brian Hanna, formerly an analyst in the Lansing Computer Crimes unit at the Michigan State Police, and deputy for the Kalamazoo County Sheriff’s Office, was tapped by Governor Whitmer to lead Michigan’s Cannabis Regulatory Agency (“CRA”). Immediately prior to his interim appointment, which took effect September 19, Hanna was the CRA’s manager of field operations, inspections and investigations.
Why it Matters: Hanna replaces former CRA executive director Andrew Brisbo, who will now lead the state’s Bureau of Construction Codes. In a statement, Hanna said “I look forward to reconnecting with stakeholders to ensure we have a clear and concise regulatory framework for oversight of this industry to promote continued growth in Michigan.”
- Will Electric Vehicle Incentives Under Inflation Reduction Act Actually Hurt Sales?
The Inflation Reduction Act includes billions in incentives for electric vehicle adoption, including $7,500 tax credits for EV purchases. However, many automotive manufacturers are not happy with the rules the bill imposes for vehicles to qualify for the credits.
Why it Matters: The opposition argue that the manufacturing, sourcing, and pricing rules, which require significant domestic sourcing of raw materials and manufacturing, are too aggressive and could result in most EV’s not qualifying for the federal incentives – therefore stifling sales for many manufacturers.
Related Practice Groups and Professionals
Energy, Utilities & Telecommunication | Michael Ashton
Business & Tax | Robert Burgee