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27 Mind-Blowing Ways To Use CBD Honey

Honey is awesome! It’s got a long list of health benefits, and it tastes good to boot. There are very

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CBD Honey

Honey is awesome! It’s got a long list of health benefits, and it tastes good to boot. There are very few natural, edible options that pack the same punch. High-CBD cannabis is the other one that comes to mind.

As great as those two things are separately, just imagine what they could do together. It’s unlike anything the world has seen since Milton Hershey combined peanut butter and chocolate. Yeah, CBD honey is just that good.

But how should you use CBD honey to get the most benefits? The experts at Honest Marijuana show you 27 ways to use your liquid gold for health and happiness. We’ll even show you a quick and easy way to make your own CBD honey in case your local dispensary doesn’t have any in stock.

For organizational purposes, we’ve divided the list into two categories:

  • Edible Ideas
  • Topical & Medicinal Uses

We did this because CBD honey is more than just a tasty treat. You can also use it on your skin or mix it with one or two other ingredients to relieve various ailments.

So if you’re looking for the Swiss Army Knife of the food world, check out our list of 27 ways to use CBD honey.

27 Ways To Use CBD Honey

CBD honey can be used as a substitute for sugar in most recipes. But keep in mind we’re not chefs.

We don’t know how much CBD honey to use in your world-famous cookie recipe. We can’t be held responsible for the results. If something goes wrong, smoke a doobie and try again.

Edible Ideas

1) DIY Sports Drink

Need a refreshing pick-me-up to get you through a long workout? Try this DIY sports drink recipe. In a blender, mix:

  • ¼ cup of lime juice
  • ¼ cup of lemon juice
  • 2 cups of water
  • ⅛ teaspoon of sea salt
  • 2 tablespoons of CBD honey

Ahhh, delicious!

2) Tea Sweetener

CBD honey in a cup of tea

People have been mixing tea and regular honey together for a long time. It’s a great way to sweeten a bitter drink.

But just imagine all the extra health benefits you could get if you added CBD honey instead. Give it a try and we’re sure you’ll never go back.

3) CBD Honey Caramel Sauce

Caramel in coffee? Yep. Caramel on apples? Yep. Caramel by itself? Yep. Really, caramel goes great with everything.

Now you can whip up a batch of your very own CBD honey caramel sauce for use wherever you see fit.

4) All-Natural CBD Honey Cough Syrup

Ever been kept awake by a nasty cough? It’s the worst. Now you can fix that persistent hack and get your forty winks without resorting to chemical additives. Here’s the simple recipe.

In a saucepan, add:

  • 1 cup of water
  • ¼ cup of ginger root
  • ¼ cup of marshmallow root
  • 1 tablespoon of cinnamon

Bring the water to a boil, and then simmer until half the water is gone. Pour the water through a cheesecloth to remove the herbs. Wait for the water to cool a bit.

While it’s still warm, mix in the lemon juice and the CBD honey. Transfer to a canning jar with a lid, and store your CBD honey cough syrup in the refrigerator.

5) Peanut Butter

Making your own peanut butter is super easy, not to mention healthy and delicious. To boost the health benefits even more, mix up your own batch of CBD honey-based peanut butter.

Simply add CBD honey to your existing peanut butter recipe and you’re all set!

6) Salad Dressing

CBD honey as a salad dressing

Skip the salad dressing aisle at the supermarket, save some money, and enjoy a delicious and nutritious alternative instead. Simply mix equal parts:

  • CBD honey
  • Balsamic vinegar
  • Olive oil

Add salt, pepper, and herbs to your liking and you’ve got a tasty salad dressing for any situation.

7) Dark Chocolate

With a bit of cocoa powder, coconut oil, salt, chocolate chips, and CBD honey, you can whip up a batch of your very own dark chocolate.

Make some dark chocolate and peanut butter using CBD honey, and you’ve got your very own superfecta (yes, that’s a real thing).

8) Marshmallows

CBD honey marshmallows

Bet you didn’t know you can make your own marshmallows. Best of all, you can do so without all the extra ingredients (like modified corn starch, artificial flavor, and blue 1).

Find a recipe you love and just substitute CBD honey for the regular stuff.

9) Taffy

Need to get out some aggression and sneak in a quick workout? Try pulling taffy. You can make your own flavored taffy using CBD honey as a sweetener.

10) Caramel-Pecan Bars

Need something to satisfy the munchies? Mix up a hearty helping of caramel-pecan bars to keep the party going.

11) A Spoonful Of Sugar

Who’s to say you have to eat honey IN other foods?

Mary Poppins — a marvelous movie to watch when you’re high, by the way — was right when she sang, “A spoonful of sugar helps the medicine go down.”

In this case, we’re not taking pills or anything like that. We’re just dishing up a spoonful of CBD honey all by itself for the natural health benefits honey has to offer and the over-the-moon medicinal value that CBD brings to the table.

If you need a quick snack to get your motor running — not that way…though, now that we think about it, it would be nice if honey was an aphrodisiac — or to help you power through until your next meal, try a spoonful of sugar in the form of some delicious CBD honey.

12) CBD Honey And Water During Your Workout

The CBD won’t make your exercise any easier, but the honey will!

Mix a spoonful of CBD honey into your water bottle (you may need to warm the water first, but certainly not IN the bottle), for a great mid-exercise boost.

The glucose in the honey prevents your muscles from getting sore and allows you to push just a little bit further or faster in your workout.

You can also try eating a spoonful of CBD honey all by itself before starting your exercise.

Honey is chocked full of healthy sugars (fructose, glucose, and sucrose) — not the bad stuff (high-fructose corn sugar) that comes in pretty much everything these days — and digests slowly in your stomach.

With a pre-workout bit o’ CBD honey, your body has access to a steady stream of glucose that results in an all-natural energy boost to keep you going.

13) CBD Honey Strawberry Lemonade

There are few things better than a tall glass of ice-cold strawberry lemonade on a hot day…except a tall glass of ice-cold CBD honey strawberry lemonade!

Here’s how to mix up your own batch of this tasty treat.

Ingredients

  • 1 cup of CBD honey
  • 1 cup of water for the simple syrup
  • 1 cup of sliced strawberries
  • ¾ cup of fresh-squeezed lemon juice
  • 4 cups of water for the lemonade
  • Saucepan
  • Sieve
  • Pitcher

Instructions

Before you can enjoy this delicious drink, you’ll have to make a simple syrup. Don’t worry, it’s easy.

  1. In a medium saucepan, combine 1 cup honey and 1 cup water.
  2. Place over medium heat and stir until the honey has melted into the water (this will take a couple of minutes).
  3. Raise the heat to medium-high, stir in strawberries, and bring mixture to a simmer (adjust temperature accordingly).
  4. Leave on heat for 3-4 minutes or until the strawberries have started to break down.
  5. Strain the strawberry mixture through a fine-mesh sieve and let cool to room temperature. Use immediately or store in the fridge for up to a week in a closed container.

Now it’s time to mix everything together.

  1. In a large pitcher, mix ¾ cup of lemon juice, 4 cups of water, and ¾ cup of the CBD honey simple syrup you just made.
  2. Chill until ready to use.
  3. Serve over ice and enjoy.

Yeah, that’s the stuff of life!

Topical & Medicinal Uses

Harness the power of CBD honey with these topical and medicinal uses.

14) Make Your Own Face Mask

Say goodbye to dry skin with this simple face mask recipe. Mix 1 tablespoon of coconut oil and 1 tablespoon of CBD honey. Apply the mixture to your face and let it sit for 20 minutes.

Rinse with lukewarm water and pat your face dry with a soft towel.

15) Relieve Acid Reflux

Suffering from acid reflux? Quench the fire with a teaspoon of CBD honey once per day. And don’t feel like you have to stop when the acid reflux is gone. CBD honey is so safe you can take every day.

16) Treat A Hangover

Two hungover men

Feeling a bit hungover after a night out with friends? Consume some CBD honey (we like it in a strong cup of tea) for a bit of relief.

The antioxidants in CBD honey neutralize the toxins left over after a serious bender, and the natural fructose helps break down alcohol into harmless byproducts.

17) Create A Topical Antibiotic

Got a cut? Dab on a bit of CBD honey. You’ll absorb some CBD through your skin and get the antibiotic benefits of honey all at the same time.

18) Relieve Allergies

Allergen

Local honey (honey made by bees in your area) is amazing for getting rid of the symptoms of seasonal allergies. Mix up your CBD honey with a local variety, and then consume a tablespoon daily for real relief.

19) Reduce The Sting Of Burns

CBD honey keeps minor (first-degree) burns sterile and improves healing time. For second- and third-degree burns, consult a doctor as soon as possible.

20) Dry Up Acne

Want to get rid of those pesky red spots on your face? Wash with CBD honey for blemish-free skin. CBD honey cleanses your skin without stripping away new cells and normalizes sebum production.

That means healthy, clear skin in no time.

21) Moisturize Your Lips

Don’t spend money on expensive lip balms. Make your own CBD-honey variety instead. Just a few easy-to-find ingredients and a simple recipe are all you need for luscious lips.

Best of all, you’ll absorb some of the CBD through your skin.

22) Tackle Gingivitis

To treat or prevent gingivitis, apply a dab of CBD honey to your gum line every day. The honey will kill the bacteria while the CBD will be absorbed into your bloodstream.

23) Treat Stomach Ulcers

Stomach ulcers are no fun. But instead of relying on over-the-counter medications, try a healthy dose of CBD honey instead.

Eat one tablespoon on an empty stomach first thing in the morning. Then, eat another tablespoon before bed to help ease the pain.

24) Get Rid Of Menstrual Cramps

To help relieve the pain of your menstrual cycle, dissolve and drink one tablespoon of CBD honey in a glass of warm water while symptoms persist.

The CBD honey stimulates the production of omega-6 fatty acids, which helps to even out the crazy hormones coursing through your veins.

25) Relieve Sore Muscles

Your sore muscles aren’t necessarily the result of a hard workout. You could be dehydrated. Mix CBD honey, coconut water, and your favorite herbs for a refreshing way to stay hydrated and prevent sore muscles.

26) Cool The Burn

We love a bit of spice in our life, but sometimes, that spice can be a bit overwhelming.

We realize you can read that sentence in a number of different ways, so let us assure you that we’re talking about hot peppers, not a hot roll in the hay (although you could certainly use CBD honey in the latter as well).

How does CBD honey relate to hot peppers? We’re glad you asked. Allow us to relate an experience.

Just the other day, we were picking tomatoes in our garden when we noticed our jalapeno peppers were ripe for harvesting.

Without thinking, we plucked one off the vine and took a small bite from the end.

It wasn’t so bad at first — we eat jalapenos quite a bit — but then the burning hit and we thought our face and tongue were going to melt from the heat. We’d forgotten that we eat jalapenos IN FOOD, not usually raw and unrefined. Oops!

Through the tears and the moaning, we made our way inside and ransacked our kitchen for something to provide relief.

We tried ice water. Nope. We tried milk. Nada. We tried a shot of vodka. Sorry (but, hey, one or two more wouldn’t hurt). We tried peanut butter. Uh uh.

Then, in an act of sheer desperation, we popped the top on our CBD honey, dug in our finger, and smeared the goo on our lips and tongue. And thanks to all that’s good and holy, the burning decreased and, finally, stopped completely. Ahhh!

So the next time you’ve got an uncomfortable burning sensation on your body, maybe see a doctor.

If that burning sensation is the result of more hot pepper than you can stand, try CBD honey to cool the burn fast.

27) Make Your Own Aftershave

While we’re on the subject of uncomfortable burning sensations on your body, let’s talk about shaving.

We all know that shaving can leave your skin irritated, red, and blotchy with razor burn. Even if you avoid the little red bumps (lucky you!) but your skin still feels tight, try applying a thin layer of CBD honey to the affected area.

Let the honey dry for a few minutes and then rinse it off with cold water.

You’ll get the soothing and moisturizing benefits of honey as well as a bit of topical CBD relief in one fell swoop.

How To Make CBD Honey

Marijuana plant

Now that you know what to do with CBD honey, you’re probably wondering how to make it. We’ve got you covered! Here’s a super simple way to make your very own CBD honey.

Supplies:

  • Canning jar with lid
  • Pan
  • 3.5 grams high-CBD cannabis
  • ½ cup of coconut oil
  • 11 ounces of good-quality local honey
  • Cheesecloth
  • Strainer
  • Bowl
  • Mixer

Instructions:

  1. Break up the cannabis with a grinder.
  2. Dump the cannabis into a canning jar and add ½ cup of coconut oil.
  3. Put the lid on the jar.
  4. Fill a pan with water so that when you put the jar in the pan, the water doesn’t touch the lid. This depends on the size of the canning jar you use.
  5. Bring the water in the pan to a boil.
  6. Place the canning jar in the boiling water and reduce the heat to a simmer.
  7. Leave the jar in the water for two hours.
  8. Remove the jar from the pan and wait a few minutes until the mixture has cooled.
  9. Line a strainer with cheesecloth and place the strainer over a bowl.
  10. Pour the mixture through the strainer/cheesecloth combo into the bowl.
  11. Squeeze the remaining liquid into the bowl.
  12. Pour this mixture into a blender and add 11 ounces of honey.
  13. Blend.
  14. Pour your CBD honey into an airtight container (another canning jar or a honey bear are great options).
  15. Enjoy!

Making your own CBD honey is one of the easiest ways to harness the healing power of your favorite CBD strain AND the health benefits that honey has to offer.

It’s a combination made in cannabis heaven.

Buy And Try Before You DIY

spoonful of CBD honey

Before you put all the time and effort into making your own CBD honey, we suggest buying and trying the pre-made variety.

Visit your local dispensary or purchase from a reputable source online, and then see how often you actually use the CBD honey.

Is it your new favorite way to ingest CBD? Or is it fun once in a while and not really worth the time, effort, or expense? Only you can answer those questions.

If you absolutely love the convenience of CBD honey and you’ve got some free time on your hands, try making your own.

Either way, CBD honey is a fun and convenient method to get the health benefits you need.

For more information on all things cannabis and to check out our 100-percent all-natural marijuana products, visit HonestMarijuana.com today.

The post 27 Mind-Blowing Ways To Use CBD Honey appeared first on Honest Marijuana.

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Turning Point Brands Invests $15 Million in Dose-Controlled Vape Pen Company to Target CBD Market

Turning Point Brands Makes Strategic Investment into dosist™ A World-Class and Globally Recognized Cannabis Brand LOUISVILLE, Ky.-October 27, 2020-(BUSINESS WIRE)–Turning Point Brands, Inc. (“TPB”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products with active ingredients, today announced a $15 million strategic investment in leading global cannabinoid company dosist™ and an exclusive co-development […]

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Turning Point Brands Makes Strategic Investment into dosist™ A World-Class and Globally Recognized Cannabis Brand

LOUISVILLE, Ky.-October 27, 2020-(BUSINESS WIRE)–Turning Point Brands, Inc. (“TPB”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products with active ingredients, today announced a $15 million strategic investment in leading global cannabinoid company dosist™ and an exclusive co-development and distribution agreement of a new national CBD brand, created in partnership with dosist’s thc-free business unit. Additionally, TPB has an option to invest another $15 million at pre-determined terms within the next 12 months.

The cannabis market is exploding and now is the opportune time to invest in the space and significantly expand our addressable market. With its leadership in results-oriented plant-based formulas and dose control technology, global recognition, consumer trust and scalability, dosist was the clear choice to be our new partner in this critical growth market.

Larry Wexler, CEO of Turning Point Brands

We couldn’t be more pleased to enter into this agreement with dosist, to not only help fuel its exciting new business and co-create a completely new CBD brand for our retail partners, but also to leverage their expertise as a marketing powerhouse to help build the future of both our companies.

“We are extremely proud to partner with Turning Point Brands on our next phase of growth and distribution as we continue to transcend the way consumers think about their health and wellness,” said Gunner Winston, CEO of dosist.

Turning Point’s leadership team has demonstrated remarkable foresight and vision about the future and opportunity for federally legal cannabinoid products. The synergy between our brands around this scope and mission is incredible and we are excited by what we will achieve together with this partnership.

Gunner Winston, CEO of dosist

Since its launch in 2016, dosist has quickly established itself as a pre-eminent and globally recognized cannabis brand through its award-winning innovations (Time Magazine, Fast Company, Bloomberg), and superior marketing prowess. The renowned dosist product portfolio, including its internationally patented dose-control inhalation technology, delivers scientifically engineered formulations targeting key human need states. dosist formulas offer consumers a complete range of solutions, starting with its core line featuring balanced ratios of cbd to thc, and their thc-plus line, a collection of high potency formulas designed for targeted thc-forward experiences.

All dosist formulas are delivered via their proprietary dose-controlled devices, which include their completely re-engineered inhalable disposable dose pen™, the newly launched dose pen™ rechargeable system and the dose dial™, which dispenses a 3.7 mg sublingual tablet. In the coming 3-6 months, dosist plans to expand on its current platform with a substantial innovation pipeline including tinctures, gummies and dynamic live resin and full spectrum formulas developed in collaboration with some of the most progressive brands in the space.

dosist’s leading cannabis products are currently available in California, Colorado, Nevada and Canada, serving a total dispensary network of more than 700 stores. The company has plans to launch into key new markets in the coming months, adding geographies as they continue their North American expansion. dosist has consistently elevated the retail experience across all markets which they currently service, including a transformative retail store on iconic Abbot Kinney Blvd. in Venice, CA, and a flagship shop-in-shop in Planet 13 in Las Vegas, the largest cannabis retail destination in the world, in addition to other numerous and impactful retail experiences across their distribution channels.

In addition to their robust portfolio of current and upcoming thc-regulated products, dosist plans to launch a globally scaled omni-channel platform in November, dosist thc-free™, bringing the brand’s leading standards of precision, quality and targeted performance to the rapidly growing CBD market across multiple product lines. The partnership between TPB and dosist also includes the co-creation of a completely new national CBD brand aimed at the mass market. This partnership combines Turning Point Brands’ best-in-class sales and operations infrastructure with dosist’s expertise in product innovation, marketing and brand development. The new brand will be exclusively distributed by TPB, which services more than 180,000 points of sale in the United States.

dosist thc-free products will be available nationally across the US starting early November at www.dosistthcfree.com and select retailers. For more information about dosist thc-free and its products follow them on Instagram @dosistthcfree.

Transaction Details

The proceeds of TPB’s investment are being used by dosist’s thc-free and Canadian business units and cannot be used in connection with or for any cannabis or cannabis-related operations in the United States, unless and until such operations comply with all applicable laws of the United States. TPB has been issued a warrant to receive preferred shares of dosist that will automatically be exercised upon a change in federal laws in the United States to reschedule or deschedule cannabis and/or permit its general cultivation, distribution and possession. As part of this agreement, TPB will also have an option to fill a seat on the board of directors of dosist upon legalization.

About Turning Point Brands, Inc.

Turning Point Brands (NYSE: TPB) is a manufacturer, marketer and distributor of branded consumer products with active ingredients through its iconic core brands Zig-Zag® and Stoker’s®, and its emerging brands within the NewGen segment. TPB’s products are available in more than 210,000 retail outlets in North America in addition to sites such as www.zigzag.com, www.nu-x.com and www.solacevapor.com. For the latest news and information about TPB and its brands, please visit www.turningpointbrands.com.

About dosist

dosist™, based in Los Angeles, California, launched in 2016 and has since become known as a disruptor in the health and wellness industry. dosist was named one of Time Magazine’s Best Inventions of 2016, was recognized by Fast Company as one of 2018’s Top 10 Most Innovative Companies in the health sector, and was designated by LinkedIn as the number two Top Startups 2019: Hottest U.S. Companies To Work For Now. dosist’s new thc-free business is scheduled to launch in early November, providing natural options for some of our most common ailments through dose-controlled targeted cbd+ formulations such as calm thc-free™, sleep thc-free™ and relief thc-free™. For more information about dosist thc-free™ and its products visit the website at dosistthcfree.com and follow them on Instagram @dosistthcfree.

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The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.


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Source: https://www.newcannabisventures.com/turning-point-brands-invests-15-million-in-dose-controlled-vape-pen-company-dosist/

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Aurora Cannabis Files New $500 Million Shelf After Exhausting Prior One

Aurora Cannabis Announces Filing of Preliminary Base Shelf Prospectus and Provides Update on Balance Sheet Strength Existing At-The-Market (ATM) program now complete New Preliminary Base Shelf Prospectus Has Been Filed Current Cash Position is Approximately $272 million EDMONTON, AB, Oct. 27, 2020 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining […]

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Aurora Cannabis Announces Filing of Preliminary Base Shelf Prospectus and Provides Update on Balance Sheet Strength
  • Existing At-The-Market (ATM) program now complete
  • New Preliminary Base Shelf Prospectus Has Been Filed
  • Current Cash Position is Approximately $272 million

EDMONTON, AB, Oct. 27, 2020 /PRNewswire/ – Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced it has completed the previously filed At-The-Market (“ATM”) program. Because of this, the Company has filed a new preliminary short form base shelf prospectus (the “Shelf Prospectus”) with securities regulators in each of the provinces of Canada, except Quebec, and a corresponding shelf registration statement on Form F–10 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”).

The base shelf prospectus when made final, will allow the Company to make offerings of up to U.S.$500 million of common shares, preferred shares, warrants, subscription receipts and debt securities, or any combination thereof during the 25-month period that the base shelf prospectus remains effective. The specific terms of any offering of securities, including the use of proceeds from any offering, will be set forth in a prospectus supplement to the Shelf Prospectus, which will be filed with the applicable Canadian securities regulatory authorities and the SEC. Aurora filed the Shelf Prospectus in order to provide the Company with continued financial flexibility going forward.

With the completion of the previously filed ATM program, the Company currently has available cash resources of approximately $272 million, in addition of undrawn revolver capacity of approximately $11 million.

About Aurora 

Aurora is a global leader in the cannabis industry serving both the medical and consumer markets. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. The Company’s brand portfolio includes Aurora, Aurora Drift, San Rafael ’71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD. Providing customers with innovative, high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched. For more information, please visit our website at www.auroramj.com.

Aurora’s Common Shares trade on the TSX and NYSE under the symbol “ACB”, and is a constituent of the S&P/TSX Composite Index.

Original press release

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Published by NCV Newswire
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The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch.


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Accountants from Coast to Coast Meet to Discuss Cannabis Issues

This week, the California and Colorado Society of CPAs, along with 18 other state CPA groups, from Alabama to Iowa, are hosting a virtual event that they hope will answer some of the toughest cannabis-related questions that certified public accountants face as they advise clients in the industry.  Topics included how the cannabis industry was […]

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This week, the California and Colorado Society of CPAs, along with 18 other state CPA groups, from Alabama to Iowa, are hosting a virtual event that they hope will answer some of the toughest cannabis-related questions that certified public accountants face as they advise clients in the industry. 

Topics included how the cannabis industry was disrupted by the COVID-19 pandemic and how it might recover, hemp and cannabidiol in food, intellectual property and taxation, and regulatory, banking, and labor issues. 

Aaron Smith, executive director of the National Cannabis Industry Association, kicked off the event with a birds-eye update on cannabis. While much of the national cannabis conversation has focused on whether President Donald Trump might legalize cannabis if re-elected, or if former Vice President Joe Biden will go beyond his plan to decriminalize, Smith emphasized that attention should be on the five states that have adult use and medical legalization on their ballots this fall (New Jersey, Arizona, South Dakota, Mississippi, and Montana). 

“Because of the federalist system in this country, states are able to really be the laboratories of democracy,” Smith said, pointing toward strong polling in New Jersey, the state’s population of nine million, and its “significance in the region.” 

“New York, for example, has been looking to enact adult use cannabis laws for a couple of years. Came very close last year. And I think that victory in New Jersey in November will really be kind of the thing that tips New York early in 2021, and then perhaps Pennsylvania and Connecticut,” Smith said. 

Given that many people in the audience were accountants or attorneys, it didn’t take long for the conversation to shift to the Internal Revenue Service. (Read Cannabis Wire’s resource page on tax hurdles faced by the cannabis industry.)

“The crushing and unfair provision of the tax code Section 280E, which doesn’t allow businesses to take their deductions in our industry, is really holding us back,” Smith said. 

Smith mentioned how the COVID-19 pandemic, in some ways, slowed attempts at national cannabis policy reform. The SAFE Banking Act, which had momentum before the virus hit, has taken a back seat as lawmakers shifted away from “anything that’s not directly related to either the public health crisis that the pandemic posed, or the economic fallout of the pandemic, understandably so,” Smith said. And while the HEROES Act, the House-passed COVID-19 relief bill, includes SAFE Banking language, “the death of Ruth Bader Ginsburg has now moved the Senate into prioritizing, fast-tracking a Supreme Court Justice,” while coronavirus relief remains uncertain. 

A panel discussion about the coronavirus pandemic, which included Josephine Giordanoa, a CPA based in Arizona, Tom Hood, a CPA in Maryland, and Ted Lichtenberger, co-founder of the Flower Company, a wholesale cannabis membership club that compares itself to Costco, dove deeper into how COVID-19 changed the cannabis industry.

“Overall, the supply chain has been pretty strong in resisting the ups and downs of COVID,” Lichtenberger said. 

Giordanoa noted that many current hurdles, including slow investment, are issues that already existed for the cannabis industry — the pandemic just exacerbated things. 

“Once COVID hit, they’ve been a little bit shy in providing capital that’s needed, although we’re starting to see that starting to overturn,” she said. 

Giordanoa also highlighted that while nearly every cannabis business was declared “essential,” COVID-19 still brought “operational changes,” like the need to physically distance. 

“Social distancing is an issue. Having the customers come in and having to maintain a certain number of customers within the dispensary itself just cuts back on the amount of people that could gravitate toward different products within the dispensary,” she said. 

Some cannabis business owners have had to furlough and lay off employees, while others are succumbing to the difficult market presented by the synergistic effects of federal prohibition, banking issues, and the pandemic. Still, many of the owners that Giordanoa said she’s spoken to have said that they’re doing everything they can to avoid layoffs. 

“I think by the time we weed out the non-performers, we’re going to be in a mature industry that’s really going to be able to sustain itself beyond this point of the pandemic,” Giordanoa said. 

A panel discussion on hemp and CBD in food brought together Amanda Conley and David Bush, both attorneys, and Joyce Cenali, a partner at Big Rocks Partners investment firm. 

“We have a federal regulatory scheme that has been now put into place for federally-regulated hemp production in the United States. But the federal government would rather not do the regulating itself. It doesn’t have the resources. It doesn’t have the interest,” said Bush, a lawyer with Hoban Law Group, adding that the U.S. Department of Agriculture’s interim final rule on hemp production has created controversy. (Read Cannabis Wire’s coverage of the rule.)

“What it has done is it creates a system of guidelines, regulatory guidelines, which if states wish to enforce, regulate, administer the federal program, they can do so subject to guidelines,” Bush said. “It is a very controversial program. States are pushing back. They don’t like some of the federal regulations. So that is subject to some modification in the future.” 

Conley gave an overview of the Food and Drug Administration’s approach to CBD, which is, essentially: now that the FDA has approved GW Pharmaceuticals’ Epidiolex, which contains CBD extracted from cannabis, CBD can’t be added to food or treated like a dietary supplement. (Read Cannabis Wire’s coverage of the FDA’s current and forthcoming CBD regulations.)

“We’re now at a really interesting crossroads where we’re going to see: how is the FDA going to deal with this? How are they going to deal with this huge CBD market? But then, also, this really clear guidance to them that says, ‘you can’t sell this product as anything but a drug once it’s been approved,’” Conley said. 

Colorado Rep. Ed Perlmutter is scheduled to speak when the event continues Tuesday. 

Source: https://cannabiswire.com/2020/10/27/accountants-from-coast-to-coast-meet-to-discuss-cannabis-issues/

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