South Florida Hospital News
Tuesday February 18, 2020
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February 2020 - Volume 16 - Issue 8

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Physical Therapy is a dynamic, licensed, allied health profession with an established theoretical and scientific foundation. The profession credits Mary MacMillian with formalizing it in the United States circa 1921. The field has widespread clinical applications and is focused on the restoration, maintenance and promotion of physical function and movement for individuals across the lifespan and anywhere on the physical health spectrum. 

In 1982, Congress enacted Internal Revenue Code Section 280E, which states:

“No deduction or credit shall be allowed for any amount paid or incurred during the taxable year in carrying on any trade or business if such trade or business (or the activities which comprise such trade or business) consists of the trafficking in controlled substances

Looking for help with your live scan and fingerprint background check needs? FastFingerprints is your one-stop shop for the state of Florida and nationwide.

 
With 40 FastFingerprints Florida locations, the company provides a reliable network of live scan providers that can capture fingerprints for a Florida Level 2 background check electronically

The use of CBD and medical cannabis products is booming; in fact, 57 percent of patients 55 years old and older have used CBD or marijuana for medical reasons, and interest continues to grow. Yet for many physicians and allied healthcare professionals, this is still an untapped area, mainly because of a lack of targeted information on how to use these substances in their practices.

In this ever-growing cannabis industry, how do you know what you are getting. There are so many new companies popping up and flooding the market with products that all look the same and all say theirs is the best.

Leave it to the IRS to have written specific tax code for just about every profession and activity imaginable, both legal and illegal. Unfortunately, in the case of a state legal cannabis-based business, that falls under tax code §280E which was written for trafficking illegal drugs. This 1982 code states that “no deduction or credit shall be allowed for any amount paid

What benefits do you see for patients throughout Florida within this space?

Cannabis has the potential to unlock countless therapeutic benefits for patients across Florida. In fact, as a cannabis coach and educator, I see on a daily basis how CBD and Medical Marijuana are safely and effectively incorporated into patients’ lives. 

Although there have been Florida statues in place regarding the requirements for hemp and CBD products for months now, enforcement began in January. Inspectors have a wide array of new things to look for and stores were given an initial 30 days to comply before being reinspected and having these products pulled however this deadline will be extended slightly from what we have heard. 

Adult-use marijuana will not be on the 2020 ballot, but the year does welcome the beginning of Florida’s awaited “Hemp program”, which is governed by rules effective New Year’s Day. This article is intended to be useful information for anyone who plans to locate, or is considering locating themselves somewhere in Florida’s hemp industry.

"Everyone needs money to operate their business," said Patrick Lane, and anyone looking for opportunities in the cannabis industry might be able to find them at the Benzinga Cannabis Conference at the Fontainebleau Miami Hotel, Feb. 24 – 25. As Senior Vice President, Partnerships, Lane said Benzinga is a financial media company that covers markets, and cannabis is currently one of the hottest sectors.

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