Our New York City office is now open! Located in Midtown- 1740 Broadway 15th Floor, New York, NY 10019
The IRS will begin accepting and processing 2023 tax year return filings on January 23rd 2024. Please note FEDERAL INCOME TAX filing deadlines for calendar year taxpayer are as follows in 2024 for the 2023 tax year: PARTNERSHIPS AND S CORPS:Returns due on March 15, 2024, Extended due date September 16, 2024.Please note that K-1s […]
Reprinted with the permission of Bloomberg Tax Oregon’s new tax compliance certificate for cannabis businesses adds a challenge to an industry facing decreased demand and substantial competition with illegal operations, say AB FinWright’s Rachel Wright, Abraham Finberg, and Simon Menkes. To force cannabis businesses to be tax compliant, the Oregon Liquor and Cannabis Commission in […]
California’s Department of Industrial Relations (DIR) recently reminded California’s cannabis companies that labor protections apply to all cannabis workers, even those employed by illegal unlicensed businesses. This includes minimum wage, overtime, and maintaining a worker’s comp policy. Failure to comply can result in civil and/or criminal prosecution. The DIR is relying on mistreated workers to […]
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 […]
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 […]
