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October 11 2019

Opportunity Zone Credits for Cannabis Investors & Operators

Opportunity zones are some of the best investments available for anyone with the funds seeking to lower their tax responsibility. Praised by some as a “more socially conscious form of real estate investing,” opportunity zones offer a way to do good while saving money on your taxes. Here’s...

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Filed Under: Taxes, Investing

October 01 2019

Everything Cannabis Operators Need to Know About Form 8300

Recently, our experts have heard reports of cannabis operators being penalized for failing to submit IRS Tax Form 8300

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Filed Under: Compliance, Taxes, Finance

September 12 2019

How Are Taxes Covered Under Cannabis Partnership and Operating Agreements?

As operators gain more experience working in the cannabis industry, some trends are becoming clear. The market is very relationship-based; it’s hard to get a foothold in this competitive space if you don’t partner with another cannabis operator, either directly or indirectly. 

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Filed Under: Taxes, Finance

September 03 2019

Managing Cannabis Employee and Contractor Payroll with Cash

Due to federal regulations restricting cannabis operators’ access to traditional banking, many cannabis companies are forced to pay their operational costs in cash.

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Filed Under: Compliance, Taxes, Finance, Operations

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...

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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