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taxes

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

March 04 2020

Cannabis Excise Tax Calculation Updates for 2020

As of the beginning of this year, there are some changes to how California is calculating the excise tax for cannabis distributors. The CDTFA released guidance changing the calculation of cannabis excise tax, as well as the payment schedule. Here’s what you need to know. 

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Filed Under: California, Taxes, Accounting

February 26 2020

Cannabis Industry Chart of Accounts

 

Need a dispensary chart of accounts? Contact us for help today!Get Started

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Cannabis operators have a lot to keep track of. From staying compliant with complex regulations to tracking KPIs and staying alert for signs of embezzlement,...

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Filed Under: Taxes, Finance, Accounting

January 08 2020

Case Study: Alternative Health Care Advocates Tax Penalties

A recent court ruling in Alternative Health Care Advocates et al. v. Commissioner of Internal Revenue offers some significant tax implications for cannabis operators and management companies. The case, which was filed at the end of December 2018, is a cautionary tale for any cannabis...

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Filed Under: Case Studies, Taxes, Accounting

December 18 2019

Understanding Cannabis Nursery Businesses

Need help with setting up the financials for cannabis nursery? Contact us today!Get Started

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Cannabis operators seeking to diversify should consider a cannabis nursery; this business model is slightly less involved than a full cultivation...

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Filed Under: Taxes, Business, Finance, Operations

December 05 2019

CDTFA Cannabis Excise Tax Update for 2020

Last month, the California Department of Tax and Fee Administration announced an increase in the cannabis excise tax. Starting January 1, 2020, the new markup rate will be 80%, an increase from the original markup of 60%.  

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Filed Under: California, Taxes