January 2020 -- Useful Links for the New Year

January 2020 Newsletter New Year Ideas for You and Your Business MY USEFUL LINKS Is this the Year YOU will Get Organized? www.SystemsProcessingIntegration.com Prop 65 / Cosmetic / Amazon Safety Dossier www.ProfessionalSafetyDossier.com New York now has its own Prop 65 Law And New Jersey is about to follow. AND THESE USEFUL LINKS FROM THE FDA Food Facilities Registration: https://www.fda.gov/food/guidance-regulation-food-and-dietary-supplements/registration-food-facilities-and-other-submissions FDA Search Databases: https://www.fda.gov/industry/fda-basics-industry/search-databases Medical Device Search: https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfRL/rl.cfm "Many organizations that manufacture devices and products for distribution and use in the United States are required to register with the U.S. Food and Drug Administration on an annual basis. Some of this registration information is available to the public – but not all. For example, although food manufacturers are required to register with the FDA, the public is not entitled to their registration information." -- https://legalbeagle.com/5835541-manufacturers-fda-registration-number.html

Cost Segregation -- COST SEG Can Save Your Company Taxes You don't want to pay more taxes than you have to... right? www.Winning-Business-Solutions.com

Winning Business Solutions can help you accelerate your real estate depreciation through an engineered Cost Segregation Study allowing you to expense 10% to 50% of the cost of your building in the FIRST YEAR!  The tax savings is guaranteed to be ten times the cost of the study!  What is Cost Segregation?  Currently, the IRS sees your building as one entity, depreciated using straight line depreciation over 27.5 or 39 years, or, in our analogy, a Big Mac. After an engineered Cost Segregation Study, the IRS will see the components of your building, e.g., decorative lighting or outdoor landscaping, much like we view a Big Mac as two all-beef patties, special sauce, lettuce, cheese, pickles, onions on a sesame seed bun. An engineered Cost Segregation Study allows some components to be moved into 5, 7 or 15-year property depreciation categories – lettuce might be in the 5-year category and the sesame seed bun might be in the 15-year category, just like decorative lighting is 5-year property and landscaping is 15-year property with an engineered Cost Segregation Study. Under the new tax bill, 5-year property, typically where the bulk of the reclassified components go, can be entirely expensed in the first year! Which means, depending on the type of building, 10% to 50% of your building can now be written off in the first year!   How do you start your Cost Seg benefits? Go to www.Winning-Business-Solutions.com Complete the Contact Form

CBD NEWS USDA Approves First State and Tribal Hemp Production Plans Nicholas Saraceno | January 2, 2020 The U.S. Department of Agriculture (USDA) has approved the first set of plans submitted by states and Indian tribes for the domestic production of hemp under the U.S. Domestic Hemp Production Program. The plans were submitted by the states of Louisiana, New Jersey and Ohio, and the Flandreau Santee Sioux, Santa Rosa Cahuilla, and La Jolla Band of Luiseño Indian Tribes. The Agriculture Improvement Act of 2018 (2018 Farm Bill) directed USDA to develop a regulatory oversight program for hemp and include provisions for USDA to approve hemp production plans submitted by states and Indian tribes. Accordingly, on Oct.31, 2019, USDA issued an interim final rule establishing the U.S. Domestic Hemp Production Program and the provisions for USDA to approve submitted plans. State and tribal plans provide details on practices and procedures that enable hemp producers in their jurisdictions to operate according to their individual plans and in compliance with federal laws. To produce hemp, growers must be licensed or authorized under a state, tribe or USDA production program. The program a grower is licensed under depends on the location of the hemp growing facility. If a state or tribe has an approved plan or is in the process of developing a plan, growers must apply and be licensed or authorized under its hemp program. If a state or tribe does not have a plan and does not intend to have a plan, growers can apply for a license from USDA. https://vitaminretailer.com/usda-approves-first-state-and-tribal-hemp-production-plans/ ----------------- https://vitaminretailer.com/congress-punts-on-regulating-cbd-in-year-end-spending-bill/ Congress Punts on Regulating CBD in Year-End Spending Bill Nicholas Saraceno | January 2, 2020 On Dec. 16, Congress punted on legislation to regulate the growing CBD industry and set a safe level of daily consumption. The conference report directs funding for research, policy evaluation, market surveillance and enforcement discretion related to CBD and hemp. Unlike legislation, the conference report does not have the force of law. The Natural Products Association (NPA) supports legislation introduced by Congressman Jerry McNerney (D-CA) that would appropriate $100,000 for the FDA (U.S. Food and Drug Administration) to perform a Health Hazard Evaluation (HHE) and set a safe level of CBD for consumers to use each day. The legislation passed the House of Representatives in June of this year and follows the same precedent as red yeast rice, which allows a natural product to contain a level of a drug ingredient that the FDA has determined to be safe. “While providing funding for testing is a positive first step, unfortunately, today’s action falls short of what is needed to protect consumers. The future of the U.S. hemp industry and the farmers and producers who provide it are directly tied to smart regulations for CBD, which includes FDA establishing a safe level of consumption so consumers are protected,” said Daniel Fabricant, PhD, president and CEO of NPA. “We are concerned that if Congress fails to act next year then we could see another vaping-like public health crisis. While we are proud to be the only association to work on real legislation to regulate the CBD market, we are disappointed that Congress ultimately decided not to act. We appreciate the leadership of Congressman McNerney and look forward to working next year on a way to ensure consumers are protected.” For more information, visit www.npanational.org.