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taxes

August 23 2019

Mergers & Acquisitions in the Cannabis Industry - Due Diligence

Mergers and acquisitions are becoming more and more popular in the cannabis industry. According to data from Marijuana Business Daily, “233 M&A transactions have been completed so far in 2019 versus 185 for a similar period last year.” M&A deals involving public buyers are an especially way...

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Filed Under: Taxes, Finance, Investing

August 09 2019

How Filing Los Angeles Cannabis Excise and Use Tax Incorrectly Will Cost You

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...

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Filed Under: California, Taxes

August 02 2019

Everything Cannabis Distributors Need to Know About Taxes

There are many different types of taxes in the cannabis industry. Cannabis distributors play a big role in the collection and remittance of cannabis sales taxes, excise taxes, cultivation taxes, and distributor taxes. These responsibilities are on top of the licensing fees and...

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Filed Under: California, Taxes

June 27 2019

Reduce Your Cannabis Taxes with 471 Allocations

As cannabis operators know, the federal 280E regulation places a huge tax burden on legal adult-use cannabis businesses. Under the 280E, any business connected with a Schedule 1 drug (as regulated under the Controlled Substance Act) cannot claim normal business tax deductions.

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Filed Under: Taxes, Finance

June 19 2019

Managing Your Cannabis Business Fund Flow

Cannabis operators take on a lot of risk by entering this growing market – with financial risk being the biggest liability of all.

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Filed Under: Taxes, Finance

March 06 2019

Partnership Audit Rules for Cannabis Companies

Has tax season got you worried about getting audited?

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Filed Under: Compliance, Taxes

February 28 2019

3 Best Tax Software Tools for Cannabis Companies

Continuing our previous coverage of the best POS systems for cannabis companies and our general software recommendations, this guide gives you our picks for the three best tax software tools for cannabis operators.

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Filed Under: Taxes

February 27 2019

199A - Qualified Business Income Deduction for Cannabis Operators

For cannabis business operators starting their tax return, figuring out what deductions you can claim under the 280e can be a challenge. Many of the typical expenses small businesses write off are ineligible to cannabis companies. As a result, you may need to dig a little deeper to find tax...

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Filed Under: Taxes

February 21 2019

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

The 280E federal regulation dictates what cannabis operators can deduct on their tax return.

The main thing you need to know is that the IRC 280E prohibits any company operating in connection with a Schedule 1 or Schedule 2 drug from deducting certain business expenses.

Unfortunately,...

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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...

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Filed Under: Taxes, Business, Oklahoma