<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=157958514840961&amp;ev=PageView&amp;noscript=1">

Blog

Emily Heaslip

Recent Posts

July 31 2020

SPACs in the Cannabis Industry

Special Purpose Acquisition Companies are one way to take your cannabis business public – here's how they work.

  • The SPAC pools money from investors – known as a blind pool – into the public company. 
  • The SPAC goes public, and then makes acquisitions or investments based on a...
[Read more...]

Filed Under: Finance, Investing

July 22 2020

How to Take Money Out of Your Cannabis Business

Here's how to draw a salary from your cannabis business – and how it impacts your business and personal taxes. 

  • How you draw a salary – and the taxes – depends on the type of entity you've set up.
  • A C-Corp cannabis venture pays taxes on any income, meaning the entity itself is...
[Read more...]

Filed Under: Finance, Accounting

July 02 2020

Understanding Bad Debts for Cannabis Companies

Learn some strategies for writing off bad debt, as well as how to avoid the risk to begin with. 
  • Bad debt gets recognized as a business expense when an account receivable is no longer collectible.
  • In the cannabis industry, you should never extend credit – it's simply too risky.
  • If you do...
[Read more...]

Filed Under: Finance, Accounting

May 05 2020

The Pros and Cons of Going Public on the CSE as a Cannabis Company

The Canada Stock Exchange (CSE) is an attractive option for mature cannabis companies looking to grow.

With simplified reporting requirements, a progressive approach to the cannabis industry, and no mandatory sponsorship requirements, the barriers to entering this stock exchange are low...

[Read more...]

Filed Under: Finance, Canada

April 24 2020

Role of a Receiver and the Benefits of Receivership

This post is part 2 in a series about economic receivership. Catch up on the first part, “Receivership for Cannabis Businesses” for more information. 

  • Cannabis businesses can't file for bankruptcy; receivership is an alternative solution.
  • A "receiver" is someone appointed by the court...
[Read more...]

Filed Under: Compliance, Business, Finance, Accounting

March 26 2020

Economic Update for Cannabis Businesses

Small business owners around the country are in need of help as more and more states ask their citizens to stay at home. Cannabis is no exception.

[Read more...]

Filed Under: News, Taxes, Business, Operations, Accounting

February 26 2020

Cannabis Industry Chart of Accounts

This index of the financial accounts in the general ledger saves time and stress when tax season rolls around.

  • A COA can generate better, more accurate reporting on your cannabis business performance to help you grow. 
  • Transactions are broken into five main categories: assets,...
[Read more...]

Filed Under: Taxes, Finance, Accounting

January 15 2020

Case Study: Northern California Small Business Assistants, Inc.

The outcome of NCBSA v. CIR shows why it's so important to have a licensed tax expert help with your cannabis business taxes. 

  • NCBSA claimed $1.5 million in ordinary and necessary business expenses on its 2012 tax return. The IRS disallowed the company’s tax deductions under Section...
[Read more...]

Filed Under: Case Studies, Taxes, Accounting

January 08 2020

Case Study: Alternative Health Care Advocates Tax Penalties

AHCA v. Commissioner of Internal Revenue shows that courts are likely to view cannabis management companies as subject to the 280E regulation. 

  • Alternative Health Care Advocates used a cannabis management company to provide HR services. 
  • The court ruled that this management company...
[Read more...]

Filed Under: Case Studies, Taxes, Accounting

November 06 2019

Can Cannabis Businesses File for Bankruptcy?

The short answer: no. But there are other options.

  • Federal regulations outlawing the sale of cannabis mean cannabis operators can’t file for bankruptcy.
  • Garvin v. Cook and the case of Way to Grow, Inc. indicate the courts won't change their mind. 
  • Cannabis and hemp operators facing...
[Read more...]

Filed Under: Compliance, Taxes, Finance, Operations

October 18 2019

Best Practices for Managing Your Cash on Hand

Learn what expenses to prioritize and ways to optimize your cash flow to stay in business. 

  • Pay your cannabis taxes first, and rent and utilities expenses thereafter. 
  • Know your inventory restock cycle to plan ahead for unforeseen expenses. 
  • Build a rainy day fund with any extra cash...
[Read more...]

Filed Under: Finance, Accounting

October 11 2019

Opportunity Zone Credits for Cannabis Investors & Operators

Investing in an opportunity zone is a great way to support the community while taking advantage of tax credits.

  • Opportunity zones are those where the poverty rate is at least 20% or median family incomes are no greater than 80% of those of their surrounding areas. 
  • The IRS offers...
[Read more...]

Filed Under: Taxes, Investing

October 01 2019

Everything Cannabis Operators Need to Know About Form 8300

IRS Tax Form 8300 must be submitted by any business that receives $10,000 or more in cash in a single transaction or multiple related transactions.

  • The IRS has been auditing cannabis businesses that do not submit Form 8300.
  • This form needs to be filled out any time a business collects...
[Read more...]

Filed Under: Compliance, Taxes, Finance

August 19 2019

Weekly Cannabis Licensing Update - August 19

Check out this week’s California cannabis news from Lassen County, Hemet, Bellflower, and Los Angeles. 

[Read more...]

Filed Under: California, Licenses

August 12 2019

Weekly Cannabis Licensing Update - August 12

This week’s California cannabis updates are from La Mesa, Corning, Oxnard, and the Bureau of Cannabis Control.

[Read more...]

Filed Under: California, Licenses

August 05 2019

Weekly Cannabis Licensing Update - August 5

As summer starts to wind down, it’s been relatively quiet on the California cannabis news front. This week’s headlines feature from Oxnard, California, the California Bureau of Cannabis Control, and Los Angeles. If you have any questions, feel free to get in touch with our team. 

[Read more...]

Filed Under: California, Licenses

August 02 2019

Everything Cannabis Distributors Need to Know About Taxes

Cannabis distributors play a big role in collecting and paying taxes in California's cannabis industry

  • Distributors are responsible for collecting cannabis tax from the cultivators and manufacturers with whom they work.
  • Distributor licenses are tricky to obtain to variable zoning...
[Read more...]

Filed Under: California, Taxes

July 22 2019

Weekly Cannabis Licensing Update - July 22

As heat waves hit across the country, here are the hottest cannabis news headlines from cities in California.

[Read more...]

Filed Under: California, Licenses

July 15 2019

Cannabis Licensing Update - July 15

This summer’s California cannabis updates continue with news from Coachella, La Mesa, and Los Angeles. Here’s what you need to know to start your week off right. 

[Read more...]

Filed Under: California, Licenses

June 17 2019

Cannabis Licensing Update - June 17

This week, California cannabis updates came in from Mountain View, Mendota, and Kern County. Here’s what cannabis news you need to know for the week of June 17, 2019.

[Read more...]

Filed Under: California, Licenses

June 10 2019

Weekly Cannabis License Update 6/10

This week’s California cannabis business updates come in from Los Angeles, Pasadena, Redding, Barstow, and Riverside. Here’s what cannabis operators in California need to know this week!

[Read more...]

Filed Under: California, Licenses

June 05 2019

5 Tactics to Drive Repeat Business for Your Cannabis Company

 

 

The cost to acquire a new customer is five times that of keeping an existing one – here's how to recruit loyal, repeat customers. 

  • Offer a points-based loyalty program to build your customer base.
  • Cross-promote your products with other local businesses, like restaurants and bars.
  • ...
[Read more...]

Filed Under: Business

June 03 2019

Weekly Cannabis Licensing Update - June 3

This week brought some big news updates from Los Angeles, Coachella, Adelanto, and San Jose. Check out these recent city council decisions concerning cannabis taxes and business licenses.

[Read more...]

Filed Under: California, Licenses

May 28 2019

5 Tips for Diversifying Your Cannabis Customer Base

As the cannabis market expands, it's important to know who your best customers are – and recruit new ones simultaneously.

  • Baby Boomers are a lucrative market: 67% of Boomers consume cannabis for health and medical reasons. They also spend more than millennials or Gen Z.
  • Diversify your...
[Read more...]

Filed Under: Business

May 06 2019

Los Angeles, Marina, and Other Cannabis News from California - May 6th

Some big news this week for cannabis operators seeking to open a business in Los Angeles! Read on for this week’s headlines from the California cannabis industry.

[Read more...]

Filed Under: California, Licenses

April 29 2019

Alameda California Cannabis Licensing

Alameda, California began the process of approving three retail cannabis dispensaries on April 23, 2019.

[Read more...]

Filed Under: California, Licenses

April 25 2019

Crash Course on Vendor Agreements for Cannabis Operators

You must have written agreements with partners throughout your supply chain to stay compliant with industry regulations. 

  • Most experts recommend writing your contracts with entities based in the same jurisdiction.
  • Avoid using a plug-and-go template; contracts from one state won’t...
[Read more...]

Filed Under: Finance

March 20 2019

5 Ways to Boost Profitability on Your Top Selling Cannabis Product

Try these five tips to overcome high sales tax and improve your profit margin at your cannabis dispensary.

  • Offer “premium” pricing on your best selling products. 
  • Upsell, cross-sell, and bundle products to boost the average basket size of each transaction.
  • Start a loyalty program to...
[Read more...]

Filed Under: Business

February 28 2019

3 Best Tax Software Tools for Cannabis Companies

The right tax software tool can help you organize your tax return, but double check all the information before you file.

  • We strongly recommend you speak to a CPA before you file your taxes, as the IRS is notorious for auditing cannabis operators. 
  • Xero, Quickbooks Online, and Freshbooks...
[Read more...]

Filed Under: Taxes

February 25 2019

This Week's Cannabis Updates from Around California

Today's cannabis updates from the state of California come from Pomona, Morro Bay, Colton, and more. 

[Read more...]

Filed Under: California, Weekly Update

February 21 2019

The Big List of Things You May Not Deduct Under the 280E

This list offers some common business expenses that you many not write off on your cannabis business tax return.
  • IRC 280E prohibits any company operating in connection with a Schedule 1 or Schedule 2 drug from deducting certain business expenses.
  • The cost of goods sold (COGS) provision...
[Read more...]

Filed Under: Taxes

February 19 2019

How to Beat the Competition in Oklahoma’s Cannabis Market

Oklahoma legalized medical cannabis in June 2018, and since then, the market has exploded with dispensaries and grow operations.

By our count, the Oklahoma market has more than 1600 growers, 436 processors, and 947 dispensaries – a very competitive landscape for anyone wishing to enter the...

[Read more...]

Filed Under: Taxes, Business, Oklahoma

February 06 2019

The 5 Best POS Systems for Cannabis Retailers

A great point-of-sale tool will help you stay compliant with regulations, avoid theft, and learn about your customers. 

  • Find a POS that is built specifically for the needs of the cannabis industry. 
  • GreenBits, Meadows, Treez, Webjoint, and Fishbowl are all good options for operators. 
  • Look...
[Read more...]

Filed Under: Business, Finance

January 31 2019

Tax Preparation Checklist for Cannabis Operators

Follow this checklist to gather everything you need to fill out your  cannabis tax return.

  • You will need your tax returns for prior two years, plus copies of your sales, excise, and local tax returns. 
  • Make sure you have your income statements ready as well as your P&L and balance sheets. 
[Read more...]

Filed Under: Compliance, Taxes

January 30 2019

Top Strategies for Pasadena’s Commercial Cannabis Screening Application

As we’ve covered previously, Pasadena, California’s cannabis business application works slightly differently than other cities across the state. Most cities ask for a cannabis operator to submit their site details. Cannabis real estate is one of the most important aspects of a licensing...

[Read more...]

Filed Under: California, Licenses

January 24 2019

What to Expect in a Tax Audit

Tax audits are relatively common in the cannabis industry – here's how to prepare for one at your business. 

  • Make sure your sales, inventory, employee, and tax records are detailed and thorough. 
  • Be prepared with historical financial records, receipts, tax returns, and anything else you...
[Read more...]

Filed Under: Compliance, Taxes, Finance

January 22 2019

What to Know About California's Cannabis Dispensary Sales Tax

Consumers are asking questions about why cannabis taxes are so high – here's how to explain taxes at your dispensary.

  • Cannabis excise tax in California goes to find schools, infrastructure, and other public good projects.
  • Cannabis sales tax rate is between 8-10% and goes toward funding the...
[Read more...]
January 14 2019

Guide to Chula Vista’s Commercial Cannabis Application

Chula Vista, California opened their cannabis licensing application window this week (January 14, 2019) and heads up – the window for submissions is very tight!

Retailers and cultivators must submit their application by 5:00 pm PST January 18, 2019. Distributors, manufacturers, or...

[Read more...]

Filed Under: California, Licenses

January 09 2019

Guide to San Luis Obispo City's Commercial Cannabis Permit Application

The city of San Luis Obispo, California opened their cannabis application process this year – and application fees are steep. In November, the City Council unanimously approved annual permit fees between $65,000 - $95,000, depending on the type of business you are hoping to open. The...

[Read more...]

Filed Under: California, Licenses

January 07 2019

Guide to Riverside County, California Cannabis Licensing

Riverside County, California recently released Ordinance No. 348.4898 which permits commercial cannabis activity in the unincorporated areas of Riverside County – specifically related to cannabis cultivation, manufacturing, distribution, testing, microbusinesses, wholesale nurseries and...

[Read more...]

Filed Under: California, Licenses

December 19 2018

The IFRS Audit: What to Expect When Going Public in Canada

To enter the Canadian Stock Exchange, American cannabis operators must go through an audit in accordance with Canadian regulations. 

  • The audit requires that you prepare four key documents  as part of your IFRS financial statements.
  • You must also provide a summary of your accounting...
[Read more...]

Filed Under: News, Finance, Canada

December 13 2018

CDTFA Proposed Emergency Cannabis Tax Regulation

Distributors and retailers: this week, the California Department of Tax and Fee Administration (CDTFA) released a new proposed regulation regarding the California Cannabis Track and Trace system.

[Read more...]

Filed Under: News, California

November 29 2018

Cannabis Security 101: How to Protect Your Business

Cannabis businesses are an easy target for theft: implement cameras, security procedures, and safes at your location to protect your business.

  • Dispensaries need to have well-armed, trained security guards to keep the site safe for customers and your employees.
  • Rather than investing in an...
[Read more...]

Filed Under: Business

November 20 2018

What is the Best Way to Structure Your Cannabis Business?

The type of business entity you establish has tax and legal implications. Here's what you need to know. 

  • There are pros and cons to LLCs, sole proprietorships, general and limited partnerships, C-Corps, and S-Corps.
  • Understand the tax implications for raising money and bringing on...
[Read more...]

Filed Under: Business

November 15 2018

How to Write an Impactful Executive Summary for Cannabis Investors

Treat your executive summary as you would a first impression: it must be strong enough to capture the attention of your investors. 

  • There are three questions your executive summary must answer right away. 
  • Know what investors are looking for in a cannabis operation and address those...
[Read more...]

Filed Under: Business

November 08 2018

Everything You Need to Know About Cannabis Standard Operating Procedures

Standard operating procedures aren't just an important part of your license application; they're also the backbone of a strong cannabis operation. 

  • SOPs offer detailed, step-by-step instructions for running a business in this complicated regulatory environment.
  • There are eight areas...
[Read more...]

Filed Under: Compliance, Business

October 10 2018

How to Vet a CFO for Your Cannabis Company

The CFO is potentially the most important leadership role in your cannabis business – make sure the person you hire is equipped to work in this industry. 

  • CFO is the point-person for all financial reporting, including reports to your board of directors, as well as to outside parties...
[Read more...]

Filed Under: Finance

October 04 2018

IRS Penalizes Cannabis Operator for Federal Income Tax Evasion

The IRS fined an Oregon cannabis operator for failing to file income tax returns on his legal cannabis operation. 

  • Cannabis business owner Matthew Price did not report nearly $1 million in income and used his business money on personal expenses in violation of federal tax regulations.
  • This...
[Read more...]

Filed Under: News, Compliance, Taxes, Oregon

September 17 2018

Cannabis Updates San Fernando, San Luis Obispo, San Francisco, Blythe

This week we have cannabis updates about the cities of San Fernando, San Luis Obispo, San Francisco and Blythe. In addition, The California Department of Pesticide Regulation released a document that all cannabis cultivators must read.

[Read more...]

Filed Under: News, California, Weekly Update

September 10 2018

Breaking News from Contra Costa County, Sacramento, American Canyon

This week we have cannabis updates from Contra Costa County, Sacramento and American Canyon.  In addition, the California Department of Fish & Wildlife Habitat Conservation Planning Branch released a new document AND the details of six cannabis informational workshops that will be held...

[Read more...]

Filed Under: California, Weekly Update

September 05 2018

September’s Breaking Cannabis Updates

The Labor Day weekend was busy for cannabis news across the state. Today, we have  updates from the cities of Desert Hot Springs, San Luis Obispo, San Bernardino, American Canyon, San Francisco, Santa Barbara County and Solvang.

[Read more...]

Filed Under: Weekly Update

September 05 2018

What to Look for in a Cannabis Accounting Firm

A cannabis accounting firm can save you from fines, penalties, and make sure your business is set up to grow sustainably. 

  • Hiring a non-cannabis specific accounting firm can lead to accidental errors or oversights that may cause big problems in the future. 
  • Look for a firm that has a...
[Read more...]

Filed Under: Business

August 27 2018

Statewide Cannabis Updates

This week, we have cannabis news from Solvang, Monterey, Palm Desert, Desert Hot Springs. In addition, the California Bureau of Cannabis Control has released a new concise fact sheet for testing labs.

[Read more...]

Filed Under: California, Weekly Update

August 21 2018

5 Tips for Great Cannabis Business Accounting

Take some of the stress out of running your cannabis venture by setting up a strong accounting system.

  • Start with a chart of accounts that can help you keep track of everything.
  • Even if you can’t deduct everything from your taxes, you should still keep track of ALL your expenses.
  • Revisit...
[Read more...]

Filed Under: Compliance, Taxes

August 20 2018

News from Union City, Desert Hot Springs, Commerce City, and more!

This week brings more California cannabis news from the cities of Union City, Desert Hot Springs, Commerce City and Grover City.  In addition, we have updates from last week’s newsletter about the City Council meetings in Arroyo Grande and American Canyon.

[Read more...]

Filed Under: California, Weekly Update

August 16 2018

Long Beach Accepting Applications For Adult-Use Cannabis Licenses

The city of Long Beach recently announced the passing of their adult-use cannabis business ordinance, as discussed in our last Long Beach article.  Today, we are excited to announce that applications are OPEN for adult-use cannabis licenses in Long Beach.

[Read more...]

Filed Under: Licenses

August 15 2018

How the 280e Tax Regulation Affects Your Cannabis Business

The 280e prevents legal cannabis businesses from deducting certain business expenses on their tax returns.

  • Cannabis is still a federally-regulated Schedule I Controlled Substance, which means the 280e applies to legal cannabis operators. 
  • The taxable amount of a cannabis business is often...
[Read more...]

Filed Under: Compliance, Taxes

August 13 2018

More Exclusive Cannabis Updates

This week we have exciting California cannabis news from the cities of American Canyon, Arroyo Grande, Blythe, Hillsborough, King City, Solvang, and Willows.

[Read more...]

Filed Under: Weekly Update

August 08 2018

Everything You Need to Know About Cannabis in Oregon

Oregon has a well-earned reputation for being a very cannabis-friendly state. Rightfully so: Oregon was the first state to decriminalize cannabis in 1973. Since then, cannabis in Oregon has become more commonplace than many other states. This guide will help you understand what it takes to...

[Read more...]

Filed Under: Licenses, Oregon

August 06 2018

Exclusive Cannabis Updates

It’s a busy week of cannabis updates from California. Today’s news comes from Sonoma County, Sacramento, Oroville, Pomona and Alameda County.

[Read more...]

Filed Under: California, Weekly Update

August 03 2018

How to Manage Irregular Overhead Expenses

Variable expenses are highly irregular in the cannabis market – here's how to keep track of them so your business doesn't go under. 

  • Set aside $200,000 in case of emergencies. 
  • Make sure your business is 75% ready to open before you even apply for a local license.
  • Keep meticulous records...
[Read more...]

Filed Under: Business

August 01 2018

Everything You Need to Know About Cannabis in Michigan

Medical cannabis is legal in Michigan, and this summer, the state voted on eleven new measures related to cannabis treatment. This guide will provide you with an update on Michigan cannabis, as well as some tips for starting a cannabis business in the state.

[Read more...]

Filed Under: Michigan, Licenses

July 30 2018

California Cannabis Headlines from Maywood, Redwood City, and Eureka

Another week, another exciting round of California Cannabis updates. This week, we have news of a potential workshop from CalCannabis Cultivation licensing in addition to updates from the cities of Maywood, Redwood City, and Eureka.

[Read more...]

Filed Under: California, Weekly Update

July 26 2018

Everything you Need to Know About Cannabis in Oklahoma

This summer, Oklahoma became the 30th state to vote on legalizing cannabis. On June 26, 57% of Oklahoma voters approved SQ 788 — an initiative calling for the swift implementation of medical cannabis. However, since the vote, the full approval for businesses to begin selling medical...

[Read more...]

Filed Under: Licenses, Oklahoma

July 24 2018

HUGE Culver City Cannabis update, plus other California cannabis news!

This week, Green Growth CPA has California cannabis updates from Capitola, Lassen County, Culver City, Contra Costa County and Los Angeles.

[Read more...]

Filed Under: California, Weekly Update

July 19 2018

5 Questions to Ask When Hiring a Cannabis Employee

Spend time carefully vetting each new employee to reduce employee turnover costs and minimize your risk of fraud. 

  • Put your network to work to help you find someone who comes highly recommended and has a good reputation. 
  • Make sure you're registered as a business entity – you will need to...
[Read more...]

Filed Under: Business

July 18 2018

Long Beach Approves Adult Use Cannabis Ordinance

The City of Long Beach, California has recently announced the passing of their adult-use cannabis business ordinance.  Long Beach is located on California’s Pacific border and within the Greater Los Angeles area. Long Beach will be following the likes of many other California cities, like...

[Read more...]

Filed Under: California, Licenses

July 11 2018

Los Angeles Closer to Licensing Cannabis Manufacturers and Cultivators

Last week, Los Angeles announced the city will begin the process for licensing cannabis manufacturers and cultivators starting August 1. Though it will take months before a manufacturer or cultivator will be fully up and running in the city, this step signifies a green light for anyone...

[Read more...]

Filed Under: California, Licenses

July 11 2018

A Quick Guide to California's Cannabis Packaging and Labeling Requirements

Cannabis products must be properly packaged and labeled according to new guidance from the California Department of Public Health. 

  • Packaging for edibles must be opaque (not transparent).
  • All packaging must be child-resistant.
  • Labeling requirements are detailed – read the list below.

...

[Read more...]

Filed Under: California, Compliance

July 09 2018

Essential Cannabis Headlines from Mendocino, Whittier, Culver City and More

Welcome to another week of California cannabis headlines. This week we have updates from Mendocino County, Whittier, Contra Costa County and Culver City.

[Read more...]

Filed Under: Licenses, Weekly Update

July 04 2018

How Does California’s Cultivation Tax Apply to Cannabis Pre-Rolls?

Who pays the cultivation tax, and how much tax is charged for cannabis pre-rolls? We'll take you through it in this post. 

  • The cultivator is not responsible for the cultivation tax when they sell cannabis pre-rolls to a processor. 
  • The processor pays cultivation tax to the distributor...
[Read more...]

Filed Under: California, Taxes

July 02 2018

Los Angeles, Culver City, and California Bureau of Cannabis Control

Welcome to the first week of July! Today we have some news from Los Angeles and Culver City, as well as a quick update from the California Bureau of Cannabis Control.

[Read more...]

Filed Under: Weekly Update

June 29 2018

Sacramento is Accepting Cannabis Applications With No Deadline

.Although many of the cities Green Growth CPA has written about have hard deadlines for cannabis applications, there are also cities that choose to keep application deadlines open ended.  Sacramento is one of these cities.

[Read more...]

Filed Under: Licenses

June 27 2018

How Do Cannabis Taxes Apply to Immature Plants, Seeds and Clones?

Learn how the cultivation, excise, and sales taxes apply differently to immature plans, seeds, and clones.

  • Cultivation tax does not apply to the sale of immature plants, seeds, and clones. 
  • Sales tax applies when any cannabis item (including plants, seeds and clones) is sold in the retail...
[Read more...]

Filed Under: Taxes

June 27 2018

How to Collect and Disburse the Cannabis Excise Tax

Cannabis retailers must collect a 15% excise tax from customers – here's how to do it

  • Excise tax is charged differently in an arm's length and non-arm's-length transaction. 
  • In an arm’s length transaction, you should factor the excise tax into any discounts or promotional pricing you...
[Read more...]

Filed Under: Taxes

June 25 2018

July 1 Is The Deadline For New Cannabis Testing & Packaging Regulations

In January 2018, California enacted Prop 64, and officially legalized recreational cannabis. As a courtesy, a six-month transition window was put into place for cannabis businesses to make the necessary adjustment to comply with new California cannabis testing and packaging regulations....

[Read more...]

Filed Under: California, Compliance

May 24 2018

Part 3: Los Angeles Cannabis License Requirements

Catch Part 1 and Part 2 of our Los Angeles series before reading the third and final article below.

[Read more...]

Filed Under: Licenses

May 16 2018

3 First Steps to Starting a California Cannabis Business

If you're new to California's cannabis industry, start here to with these key ingredients you need to get off the ground. 

  • You must find properly zoned real estate to even have your cannabis business application considered. 
  • Not every city allows for every type of cannabis business: see...
[Read more...]

Filed Under: Business

May 09 2018

How to Find Real Estate for Your Cannabis Business

Competition for cannabis real estate is steep – follow these steps to get a jump on finding a location for your dispensary. 

  • Budget at least six to eight months of full-time searching to locate your property.
  • A city's first reading of proposed zoning ordinances should spark your property...
[Read more...]

Filed Under: Business

May 01 2018

How to Submit a Strong Cannabis Business Permit Application in California

Competition for a cannabis business license in California is fierce – here are some things that will make your application stand out. 

  • Be extremely thorough and detailed in describing your business plan. 
  • Follow ALL the security guidelines: hire a professional to get your on-site security...
[Read more...]

Filed Under: California, Licenses

April 11 2018

Part 2: Los Angeles Cannabis Zoning

Los Angeles, California recently released a series of additional regulations to reduce any negative impact or confusion regarding the cannabis industry.

[Read more...]

Filed Under: Compliance, Licenses

April 05 2018

Part 1: Los Angeles' Cannabis Rules and Regulations

Los Angeles is further clarifying their cannabis rules, regulations, and city ordinances to surrounding this growing industry. In this series, we’ll be tackling Los Angeles revised planning ordinances and licensing. First up: the city’s rules and regulations for cannabis businesses.

[Read more...]

Filed Under: Licenses

March 29 2018

Tax Reform Updates: Should You Convert from an S-Corps to a C-Corps?

The 2018 tax reform bill passed by Congress brought a lot of new changes to federal taxes for California cannabis businesses. You may have some questions about how to take advantage of these changes, which is why we’re covering all new deductions, liabilities, and tax considerations in...

[Read more...]

Filed Under: Taxes

February 05 2018

How To Find an Investor for Your Cannabis Business

There are lots of investors looking to get a piece of California's cannabis market – here's how to find one. 

  • Before you pitch, decide if you're asking for a loan or selling ownership stakes. 
  • There are also crowdfunding sites built specifically for cannabis businesses you could try. 
  • ...
[Read more...]

Filed Under: Business

December 04 2017

5 Tax Questions to Ask When Structuring Your Cannabis Business

Nonprofit, C-Corp, LLC: what business structure offers the best tax benefits for new cannabis companies?

  • A multi-entity structure limits your liability and can protect your interest – but also create a logistical nightmare.
  • C-Corp is one of the most popular options, but beware the double...
[Read more...]

Filed Under: Taxes, Business

1