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Ontario tweaks Business Corporations Act, making it more business-friendly

This summer, two small but important amendments to the Business Corporations Act (Ontario) came into effect. These amendments eased restrictions on governance so that Ontario businesses can operate more efficiently, ensuring consistency with other Canadian jurisdictions.   Effective July 5, 2021, the new amendments also reduced approval thresholds for written shareholder resolutions and led to ...

Psychedelics treatments are in the public eye  

Recently the use of psychedelics in health care experienced an interesting turning point – not through political gains, but through television.      Hulu’s latest hit, Nine Perfect Strangers, depicts the use of psychedelics as a tool in mental health therapy. Now, for anyone who’s seen the show – which follows a wellness retreat gone wrong – it’s ...

US Tax Update: Remote Sellers Sales Tax

Bloomberg Law reports that state revenue agencies are finally getting serious about requiring out-of-state retailers to collect tax on e-commerce transactions, frustrated that less than half of such sellers are in full compliance with their sales tax rules. The Wayfair Ruling Under the US Supreme Court’s holding in Wayfair, it was decided that electronic ...

Bid to repeal Section 280E up in smoke: How the recent ruling affects American cannabis

Regulatory support will always trail behind public acceptance and one prominent example of this is the US’s outdated Internal Revenue Code Section 280E as it relates to the cannabis industry.  In a long well-publicized battle, Oakland-based Harborside Inc. (listed on the Canadian Securities Exchange and operator of a number of cannabis dispensaries) had been arguing that Section 280E is unconstitutional. This section bars state-legal cannabis companies from making use of standard business deductions other ...

Procurement prep and supply chain stability in 2021

Roughly a year ago, we published a blog post outlining the ways in which businesses needed to pivot in order to succeed amidst early–COVID supply chain shortages. Little did we know that one year later, the world would continue to be impacted by pandemic-associated delays.  Partial and full lockdowns across Canada (and the world), border restrictions, ...

US Tax Bulletin: Summary of Biden’s potential proposed tax increases

During his presidential campaign, President-elect Joe Biden had proposed a number of tax changes which could impact US expatriates’ resident in Canada.  With the recent Georgia Senate win, Biden’s Democratic Party will now control both houses of Congress. With control of both Houses of Congress, Biden has a clear path to pursuing his legislative ...

Cross-border success for non-resident business owners

Have you been tuning in to the Zeifmans’ Non-Resident Digital Event Series? So far, we’ve discussed the niche challenges experienced by high net worth individuals, as well as tips and tricks for tech and startups seeking entry into the Canadian market. Today, we’re excited to share the latest installment in the series: Cross-border concerns. ...