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2.18 MB
Extraction Summary
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People
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Organizations
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Locations
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Relationships
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Quotes
Document Information
Type:
Investment report / legal risk assessment
File Size:
2.18 MB
Summary
This document is page 166 of a Cannabis Investment Report produced by Ackrell Capital, LLC in December 2017. It details the legal and financial risks associated with the cannabis industry, specifically focusing on conflicts between federal and state laws regarding taxation, banking access, trademark registration, and bankruptcy protection. The document bears the Bates stamp 'HOUSE_OVERSIGHT_024802,' indicating it was included in a document production to the House Oversight Committee.
Organizations (4)
| Name | Type | Context |
|---|---|---|
| Ackrell Capital, LLC | ||
| FINRA | ||
| SIPC | ||
| House Oversight Committee |
Locations (1)
| Location | Context |
|---|---|
Key Quotes (3)
"Federal income tax law precludes a business that 'consists of trafficking in' cannabis or cannabis products from deducting certain operating expenses in determining its federal income tax."Source
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"companies in the cannabis industry may not be able to open or maintain bank accounts or access products and services of traditional financial institutions"Source
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Quote #2
"Protections afforded under federal bankruptcy law generally are not available to companies whose assets consist of federally illegal cannabis products"Source
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Quote #3
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