Come join us at MJ Unpacked!
Join us at MJ Unpacked, the first and only event in the cannabis industry that exclusively brings together retailers, brands, and investors from across the nation!
Montana Revisited: How Did Its Cannabis Gold Rush Pan Out?
Reprinted with the permission of Cannabis Industry Journal A little over a year ago, we at AB FinWright took a look at the newly-opened adult-use cannabis market in Montana and posed the question: Is Cannabis the Next Gold Rush for Montana? Now, with our 20-20 hindsight, we can see that cannabis sales have taken off […]
What Income Are You Required to Pay Tax On?
In general, income can be received in three ways – money, services, and property – and IRS requires you to declare most of this income on your tax return. Income is taxable unless specifically exempted by law, and in some cases, even nontaxable income must be disclosed on your tax return. Taxable Income Typically, the […]
Adult Use Cannabis Begins in Compassionate Connecticut
Reprinted with the permission of Cannabis Industry Journal. On January 10, 2023, Connecticut joined those states in our union that have opened their doors to adult use cannabis sales. Seven dispensaries stepped through those doors and by January 31, Connecticut had recorded $5.1 million in adult use sales, plus an additional $8.2 million in medical […]
CALIFORNIA STEPS UP ENFORCEMENT AGAINST ILLEGAL CANNABIS, BUT IS IT ENOUGH?
In an announcement dated March 2, 2023, the California Department of Cannabis Control released cannabis enforcement statistics for 2021 and 2022 in an effort to demonstrate its commitment to bringing down the illegal market.The DCC reported: “DCC-led search warrant operations increased from 62 in 2021 to 155 in 2022, a 150 percent increase. DCC also […]
Federal Tax Filing Deadlines for 2023
The IRS has begun accepting and processing 2022 tax year return filings as of January 23rd 2023. Please note FEDERAL INCOME TAX filing deadlines for calendar year taxpayer are as follows in 2023 for the 2022 tax year: PARTNERSHIPS AND S CORPS:Returns due on March 15,2023, Extended due date September 15, 2023.Please note that […]
California’s DCC Requests AG Opinion on Interstate Cannabis Commerce
California’s Department of Cannabis Control signals that it would like to open up new markets for the state’s struggling cultivators. On January 27 this year, Matthew Lee, General Counsel for the Department of Cannabis Control, sent a letter to Senior Assistant Attorney General Mollie Lee requesting an opinion on whether “medicinal or adult-use commercial cannabis […]
New Jersey’s Careful Approach to Cannabis: Part Two
In this two part series, we take a look at New Jersey’s legalization of cannabis. Part one examined the state of the market, licensing, approvals and sales. Part two discusses all things taxes. Click here to read Part One where we examined the state of the market, licensing, approvals and sales. Part Two delves into all […]
AB FinWright/420CPA California HR Update
Happy Start of 2023! We made it through the crazy start of 2023 that saw many changes including new minimum wages! Remember to post your OSHA300A forms from February 1st through April 30th (links below). We are also highlighting compensation this month. This will be the last month we include the New Laws in 2023 […]