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Legal cannabis businesses in the State of New York face many challenges. It’s a difficult task just to obtain a license, and then many companies must find ways to compete with the thousands of illegal cannabis businesses that operate in the state today. With cannabis taxes as high as they are, savvy cannabis companies are using […]
NYC CONSIDERS ABOLISHING 280E CONFORMITY As New York state’s adult-use cannabis industry begins to pick up steam, the eyes of many savvy entrepreneurs are focused on the tax burden foisted on these businesses by Section 280E of the Internal Revenue Code. While New York state allows cannabis businesses the same deductions as any other business, […]
Please join us on April 26th for an exciting evening at one of New York City’s hippest new venues, the Manhattan Manor, and connect with industry leaders at the forefront of New York State’s new cannabis market!
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!
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 […]
In this two-part series, we take a look at New Jersey’s legalization of cannabis. Part one examines the state of the market, licensing, approvals, and sales. Part two will delve into all things taxes. On the surface, New Jersey’s new adult use cannabis program is similar to the program of its larger neighbor across the […]
THE HIGH-ROAD CANNABIS TAX CREDIT On June 30, 2022, Governor Gavin Newsom signed California Assembly Bill 195 into law, a bill specific to the cannabis industry. One of the goals of this bill was to bring tax relief to a class of businesses notoriously challenged by heavy taxes. To this end, the Franchise Tax Board […]
We were published in Bloomberg: https://news.bloombergtax.com/tax-insights-and-commentary/transfer-pricing-is-an-often-overlooked-necessity-in-cannabis Reprinted with permission by Bloomberg Tax Cannabis industry participants face a tough battle under a litany of regulations that may not change much in the near future. Transfer pricing rules must be considered and acted on properly to avoid even more tax problems for these businesses, […]
