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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 […]
In light of the upcoming income tax filing season for 2022, we felt it was noteworthy to remind cannabis taxpayers that Section 179 depreciation is unavailable in the industry due to the 2022 tax court case discussed below. Read through for some other possible but aggressive options. In a March 2022 tax court decision, a […]
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, […]
You can find our article, N.Y. Recreational Cannabis Businesses to Run Gauntlet of Taxes, in the latest publication of Bloomberg Tax here: https://news.bloombergtax.com/tax-insights-and-commentary/n-y-recreational-cannabis-businesses-to-run-gauntlet-of-taxes Reprinted with the permission of Bloomberg Tax—————————————————– Since June 1, the New York’s Cannabis Control Board has issued 162 recreational cultivation licenses. But businesses fortunate enough to obtain one of its recreational […]
You can find our article, M&A in Cannabis: A Guide for Buyers and Sellers, in the latest publication of Cannabis Industry Journal here: https://cannabisindustryjournal.com/feature_article/ma-in-cannabis-a-guide-for-buyers-and-sellers/ Reprinted with the permission of Cannabis Industry Journal—————————————————– Mergers and acquisition activity in the cannabis space tripled from 2020 to 2021, and that pace is on track to continue in 2022. With big players entering […]
You can find our article, An Update on Missouri Legalization & Taxes, in the latest publication of Cannabis Industry Journal here: https://cannabisindustryjournal.com/news_article/an-update-on-missouri-legalization-taxes/ Reprinted with the permission of Cannabis Industry Journal ————————————————– Some states, like California, Colorado and Washington, have welcomed cannabis with open arms while others have taken a while to come […]
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 […]
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 […]
Our latest article, What Can Cannabis Do For Montana?, was published in the Cannabis Industry Journal: https://cannabisindustryjournal.com/feature_article/what-can-cannabis-do-for-montana/ When Montana became a territory in 1864, its legislators chose as its motto the Spanish words “Oro Y Plata” which means “Gold and Silver.” Gold and silver discoveries brought people to the new territory in droves, and everyone expected […]
