- Michigan Legislature Considers Tax Breaks for Data Center Development
With the emergence of artificial intelligence, and its massive computing needs, data center development has exploded across the country. Michigan may soon be making a push for more data center development with a package of bills (House bills 4905-4906 and Senate bills 237-238) which, if passed, would expand sales- and use-tax exemptions for data center equipment.
Why it Matters: The economic growth potential from data center development is significant. According to McKinsey & Company, US data center demand is forecast to grow and compound by over 10 percent a year until 2030.
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- DEA Recommends Cannabis Rescheduling: Developments and Implications for the Industry
The industry may soon experience a major shift, as the Drug Enforcement Administration (DEA) moves to reschedule cannabis to Schedule III. This decision follows a recommendation from the Department of Health & Human Services (HHS), which is supported by scientific evidence reviewed by the FDA.
Why it Matters: The expected rescheduling of cannabis to Schedule III will have notable implications for cannabis businesses. The removal of cannabis from I.R.C. Section 280E will provide significant tax relief for state-legal cannabis operators, and the possibility of increased banking access could enhance the industry’s financial stability and growth potential. Nevertheless, cannabis companies will continue to face certain limitations stemming from the persistent federal prohibition of cannabis.
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- Michigan Cannabis Exceeds $278 Million in April ‘24
Cannabis sales surpassed $278 million in April, via the monthly report from the Michigan Cannabis Regulatory Agency. Michigan adult-use sales came in at $276,685,182.93, while medical sales came in at $1,861,261.02, totaling $278,546,443.95.
Why it Matters: Marijuana sales remain strong in Michigan, particularly for recreational use. However, there still are significant concerns about profitability and market oversaturation that the industry is contending with.
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- June Business Education Series
Most entrepreneurs and business leaders face similar frustrations – employee conflicts, lack of sales, profit woes and inadequate growth. Decisions never seem to get made, or, once made, they fail to be properly implemented. There is a solution, and it is not complicated or theoretical.
Why it Matters: The Entrepreneurial Operating System (EOS) is a practical method for achieving the business success you have always envisioned. More than 100,000 companies have discovered what EOS can do. Learn more and to register.
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- Fraser Trebilcock’s Growth Continues With Grand Rapids Office Relocation
Fraser Trebilcock Davis Dunlap & Cavanaugh, P.C., one of Michigan’s well established law firms with a history of providing excellent legal services, is pleased to announce it has relocated its Grand Rapids office. This move is a testament to the firm’s continued ability in taking a proactive approach in providing comprehensive legal solutions across a wide range of practice areas, helping clients capitalize on potential opportunities.
Why it Matters: In late April, Fraser Trebilcock’s Grand Rapids office moved to 300 Ottawa NW Suite 810, located within walking distance of all downtown restaurants, entertainment venues, museums, municipal buildings, and the Medical Mile. The office offers the full range of the firm’s legal services, including litigation, business, tax, real estate, trusts and estates, and other areas of specialty. Clients can expect the same level of professionalism and personalized attention that Fraser Trebilcock is known for. Read more.
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