This week’s California cannabis updates are from La Mesa, Corning, Oxnard, and the Bureau of Cannabis Control.
As a cannabis operator, you’re probably sick of having to contend with the many, frequent taxes due to the state and local government. Cannabis distributors, cultivators, and manufacturers are all responsible for different taxes, in addition to federal taxes required of all business...
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.
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...
A joint venture can give you access to new markets, new sources of revenue, and lower your risk profile.
- A joint venture is when two or more business entities enter an enterprise agreement for the purpose of advancing a specific project or business activity.
- Partners are tied...
Filed Under: Finance
These tips can help cannabis business owners evaluate your growth potential, stability, and more.
- The more data you can gather about your business, the better.
- Analyze your data once per month in the first year of running your business, then quarterly for the second year and...
The § 1.471-1 is a tax code that can be applied to reduce your tax burden – here's how.
- The § 1.471-1 tax code defines inventory capitalization rules for businesses.
- If something counts as an inventory costs, it can be considered a COGS and deducted.
- Note that allocations under...