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Assembly Bill 2691 has been introduced that would allow small cultivators to sell their cannabis at events. “This license will allow so many growers who cultivate cannabis on one acre or less to really showcase their products at these special cannabis events,” says bill sponsor Assemblyman Jim Wood (D-Humboldt County). “The Emerald Triangle is located […]
We look forward to seeing you at the Hall of Flowers in Palm Springs. Let us know if you’re around to meet up! Hall of Flowers is a licensed, industry-only, highly curated B2B show designed to facilitate commerce between our vast network of premium licensed cannabis brands and retailers. Our product categories span across flower, concentrates, […]
What is a 529 Plan? A 529 Plan is an investment account that offers tax benefits when used to pay for qualified education expenses. Investments grow tax free and withdraws are tax- and penalty-free as long as they are used to pay for eligible expenses. Most states offer their own 529 plan; you don’t have […]
Happy 420! You can find our article, New York’s Cannabis Social Experiment and How You Can Participate, in the latest publication of Bloomberg Tax here: https://news.bloombergtax.com/tax-insights-and-commentary/new-yorks-cannabis-social-experiment-and-how-you-can-participate Reprinted with the permission of Bloomberg Tax This is part of a two-day series by Bloomberg Tax Insights looking at the tax challenges facing […]
In the fall of 2021, the IRS released guidance regarding new documentation requirements for companies looking to claim a Research & Development (R&D) credit refund. The extra documentation requirement is effective beginning in January 2022, and the information must be submitted with the annual tax return. The goal of the new requirements is to help […]
By Abraham Finberg, CPARachel Wright, CPA MSTAB FinWright LLP and Jim Marty, CPAFounder of Bridge West CPAs and Advisors to the Cannabis Industry ———————————— Montana voters legalized cannabis for medical use in 2016 under the Montana State Initiative I-182[1]. Somewhat similar to states such as California, Initiative I-148, passed in 2004[2], allowed for patient use […]
You can find our article, Sooner to Profitability – Oklahoma’s tax structure makes it friendlier to cannabis businesses than California, on page 7 of the latest publication of Cannabis and Oklahoma here: https://indd.adobe.com/view/4f0d5275-0328-46e3-b714-df5d72ca04e4 Reprinted with the permission of Marijuana Venture In 1889, the federal government opened up the Oklahoma District’s Unassigned […]
You can find our article, The Great Social Experiment: Social Equity in New York, in the latest publication of the Cannabis Industry Journal here: https://cannabisindustryjournal.com/feature_article/the-great-social-experiment-social-equity-in-new-york/ Reprinted with the permission of Cannabis Industry Journal New York is embarking on a great social undertaking. In awarding its adult-use cannabis licenses, under the plan laid out by Gov. Kathy Hochul on […]
Issuing 1099’s can become less cumbersome if you create an internal SOP for collecting W-9’s appropriately. We’ve written a brief SOP for you to help us help you!__________________________________________________Please ensure that for allService providers,Rents paid for property lease or equipment,Interest paid to non-financial institutions or individualsThat you obtain a completed W-9 PRIOR to issuing a payment.Otherwise, […]
TOPIC – “Montana Marijuana Business Law 2022 – Section II: Business & Tax Planning” Date: THIS Wednesday, March 9, 2022 Time: 10AM-12:15PM MST Rachel Wright will be co-presenting on the following topics along with Jim Marty from Bridgewest CPA. Agenda Tax Planning for Marijuana-Related Businesses Deduction and COGS Challenges: IRC § 280E, Champs and […]