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August 12 2021

Cannabis Administration and Opportunity Act: What You Need to Know

On July 14th, Senate Majority Leader Chuck Schumer presented a newly revised proposal for a comprehensive cannabis reform bill in the United States. The Cannabis Administration and Opportunity Act (CAOA) would expunge federal non-violent cannabis convictions crimes, reinvest federal...

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Filed Under: News, Washington, Taxes, Business, Legalization

June 01 2021

Delta-8 Explainer: What is Delta-8?

Delta-8 THC is a controversial product stirring up a lot of news -- and earning bans in a growing number of adult-use and medical cannabis states. A lot of confusion swirls around Delta-8 (and to a lesser extent Delta-10) as consumers, operators and regulators seek clarity on what this...

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Filed Under: News, Business

May 05 2021

What Cannabis Businesses Can Learn from the Harborside Inc. Case vs. the IRS

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.

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Filed Under: News, Compliance, Accounting

March 10 2021

Potential Tax Changes During the Biden Administration

As our country passes the presidential torch, business owners and individuals alike are lookingto upcoming changes to tax laws. Keep in mind – nothing has come to pass, yet.However, there are some potential changes you should have on your radar to stay aware of,over the course of the...

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Filed Under: News, Taxes

May 13 2020

Maine & Missouri Update Cannabis Laws and Restrictions

Missouri House Passes Bill to Eliminate Medical Cannabis License Caps

Great opportunity if you want to become a cannabis multi-state operator!

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Filed Under: News

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.

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

January 30 2019

What You Need to Know About California's Permanent Cannabis Regulations

The new permanent cannabis regulations offer changes to labeling and packaging, new product definitions, OSHA training regulations, and more. 

  • California's permanent cannabis regulations go into effect January 2019. 
  • There is some good news for delivery operators and white label...
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Filed Under: News, California

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...
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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.

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Filed Under: News, California

December 06 2018

Lessons for Cannabis Operators from Harborside vs. IRS

Learn from Harborside Health Center's misfortune and make sure you file and pay your taxes on time.

  • Harborside v. the IRS was a case that shows just how aggressive the IRS is in punishing errors on your cannabis business taxes.
  • It's important to streamline your operations to maximize...
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Filed Under: News, Compliance

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...
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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.

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Filed Under: News, California, Weekly Update