420CPA California HR Update May 2023
Happy May! Happy May! In this issue, we are highlighting federal updates for your workplace and minimum wage updates for California employers.
News
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 […]
The Cannabis Chamber of Commerce’s 2022 Investment Summit Expo & Mixer
If you’re looking for strategic networking opportunities in NY, this Investment Summit will be the event. The Cannabis Chamber of Commerce is partnering with ArcView to host a fantastic networking opportunity in New York for cannabis industry leaders. Connect with the cannabis industry’s most influential professionals and investors on how to get ahead of the competition in the […]
California Governor Aiming to Set Cannabis Cultivation Tax to Zero
On June 13, 2022[1], California’s Senate and Assembly passed a massive, $300 billion budget, just two days before the deadline which would have forced lawmakers to forgo their pay. While Governor Gavin Newsom has until June 30 to sign or veto it, and some issues surrounding the spending the state’s $49 billion surplus still have […]
Cannabis Rates to Remain the Same on January 1, 2021
Source: CA Department of Tax and Fee Administration Due to new legislation, Assembly Bill 1872 (Stats. 2020, ch. 93), the cannabis excise tax mark-up rate and the cultivation tax rates will not change on January 1, 2021. Cannabis Excise Tax Mark-up RateThe cannabis excise tax mark-up rate used by distributors to compute the average market price of cannabis […]
Limits on the Installment Method of Accounting For Gain
When a seller is paid over several years, she may be eligible to report some of the gain pro rata with each installment, rather than all at once. See IRC §453(c) (installment method defined). However, the installment method is not always available. In some cases, installment treatment is denied because of some feature of the […]
Incentive under the CARES Act to Invest in Capital-Intensive Businesses In 2020
By Andrew Gradman Published at www.gradmantax.com on August 17, 2020. This article is intended for general information only and does not constitute legal advice. Every investment must be evaluated on its specific facts, and every investor should seek tax advice tailored to his or her individual circumstances. SUMMARY This article describes an incentive to […]
IRS Filing Deadlines & Penalties
IT’S TIME TO FILE YOUR TAX RETURNS! On June 29, 2020, the Internal Revenue Service announced that the tax filing deadline of July 15 will not be postponed. Thus, individuals, trusts, estates, C-corporations, and others with an April 15 deadline who filed for an extension on or before July 15, 2020 will have until October […]
California City & County Sales & Use Tax Rates (effective July 1, 2020)
Please note that Sales and Use Tax rates changed in California Cities and Counties are effective July 1 2020. Be sure to visit the CDTFA to determine the appropriate tax rates for your transactions. https://cdtfa.ca.gov/taxes-and-fees/rates.aspx As always, please feel free to reach out to us with any questions!