Preparing to Sell Your Cannabis Business
The $2.1 billion Trulieve-Harvest acquisition is paving the way for a boom of M&A activity in the cannabis industry.
Managing a cannabis company’s finances is an entirely different beast when compared to financial management in any other industry. Cannabis's classification as a federally illegal substance presents complex, unique challenges to business owners...
The strong control environments utilized by public companies in the cannabis industry provide a powerful blueprint for best practices that private cannabis companies can learn from and build on. These controls can: provide greater accountability within the organization, lower the risk of...
In late April, a U.S. appeals court rejected an attempt to end Section 280E of the IRS tax code by California-based cannabis company Harborside Inc.
In comparison to mainstream industries, cannabis businesses have considerably greater odds of being audited by the IRS. Why the IRS prioritizes auditing the cannabis industry may come as no surprise to the majority of cannabis business owners across the US. However, we weren't aware of how...
As tax extensions are coming due, we wanted to share some ‘insider’ thoughts about choosing a CPA to prepare your cannabis business tax returns.Over the past 45 days, our team has been increasingly getting on calls with cannabis operators that chose to go with a local, generalist CPA firm...
This post is part 2 in a series about economic receivership. Catch up on the first part, “Receivership for Cannabis Businesses” for more information.
Investments in real estate, licensing fees, and partnership agreements offer the opportunity for new revenue streams – here's how.
The short answer: no. But there are other options.
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 280E regulation forces cannabis operators to pay their employees in cash – here's how to do so safely.
Businesses that are structured as partnerships for federal income tax purposes have seen their audit activity increase – here's what you need to know.
Learn how to use METRC to comply with state reporting and track and trace requirements.
Follow this checklist to gather everything you need to fill out your cannabis tax return.
Tax audits are relatively common in the cannabis industry – here's how to prepare for one at your business.
Learn from Harborside Health Center's misfortune and make sure you file and pay your taxes on time.
Standard operating procedures aren't just an important part of your license application; they're also the backbone of a strong cannabis operation.
The IRS fined an Oregon cannabis operator for failing to file income tax returns on his legal cannabis operation.
Cannabis operators can avoid these five common bookkeeping mistakes by employing various checks and balances throughout their operations.
Take some of the stress out of running your cannabis venture by setting up a strong accounting system.
The 280e prevents legal cannabis businesses from deducting certain business expenses on their tax returns.
Cannabis products must be properly packaged and labeled according to new guidance from the California Department of Public Health.
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....
California's legal cannabis market opens for business in January 2018: here's what to expect.
Questions about cannabis excise and cultivation taxes in California? Read this complete guide for everything you need to know.