Jordan S. Zoot - CPA

Jordan S. Zoot - CPA

CA: DOJ Medical Cannabis

CA: DOJ Medical Cannabis

CA DOJ Medical Cannabis Rule Summary -The 16-page document from Attorney General Xavier Becerra’s office is “a good, solid first step” for enforcement, Kazan said. It spells out what is and what isn’t lawful grow.“I appreciate that it is coming from the top,” he said. The document summarizes more than 20 years of state laws, regulations, and guidelines concerning the growing, distribution and transportation of medicinal cannabis in the Golden State. The purpose of the release was “to reflect the evolution of cannabis legalization in California,” according to a statement from the Attorney General’s Office.

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CCAs CREATE PROFITS

CCAs CREATE PROFITS

On August 6th we published an article that illustrated the savings for consumers and additional profits for cultivators that could be produced through the use of a properly organized Cannabis Cooperative Association (“CCA”). This article describes the savings for consumers and the additional profits for cultivators in movement of cannabis in the form of extracted oil.

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CCA’s Beat Underground

CCA’s Beat Underground

We decided to illustrate the financial efficiency of moving cannabis from cultivator to consumer through a fully integrated CCA for the benefit of all California residents.  Every California resident is impacted by this industry regardless of social, moral or political viewpoint relating to cannabis, and regardless of economic standing.

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Transactions Involving Changes in Ownership, Financial Interests and Entities

Transactions Involving Changes in Ownership, Financial Interests and Entities

We ran across an article by Hilary Bricken, Esq. entitled “Welcome to the Jungle: Changes in Ownership, Financial Interests, and Entities for California Cannabis Businesses.” The article is a valiant attempt to capture a very real and complex problem. However, our view is that the article falls far short of addressing the totality of the problem

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Shane Eloe

Will hemp taint your banking relationship?  

Will hemp taint your banking relationship?  

Farmers across the country have started growing hemp under the 2014 farm bill while the regulations for the 2018 farm bill are sorted out by the USDA and state departments of agriculture. Many have setup legal entities and registered under their states’ regulatory programs as permitted growers but have hit a hurdle that most new businesses hop right over: opening a bank account.  

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Boutique accounting firm that specializes in helping clients in the legal cannabis industry. We represent clients all over the United States, both plant-touching and ancillary....

 Accounting and Tax /  United States

aBIZinaBOX Inc

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The Cannabis Practice Group ["CPG"] of aBIZinaBOX Inc. CPA's serves commercial cannabis industry businesses in California. The CPG have experienced > 250% growth over prior...

 Accounting and Tax /  California

We are an income tax and advisory cannabis focused niche firm. We are located in Portland, Oregon, however we can serve clients anywhere. As more...

 Accounting and Tax /  Oregon

Full Service Taxes, Accounting & Payroll for Cannabis Business. We specialize in Retail, Producer & Processor cannabis businesses.

 Accounting and Tax /  Washington

Latest News

NJ.com Article Highlights Why It Will be Hard To Estimate Tax Revenues From Regulated Cannabis Sales

NJ.com Article Highlights Why It Will be Hard To Estimate Tax Revenues From Regulated Cannabis Sales

So how good have states been at predicting the money they will bring in with the new taxes? It’s been totally all over the place, Pew found. In the first six months of the new marijuana tax, Nevada collected 40 percent more revenue than its budget officials predicted. But in California, the state took in only 45 percent of what it expected. An advisory committee found that the high taxes on the legal product didn’t make consumers want to leave the black market, which could be a reason why revenue predictions were so far off. 

Cannabis Legal Group Article: Why Your Cannabusiness LLC May Want To Be Taxed as a C Corporation

Cannabis Legal Group Article: Why Your Cannabusiness LLC May Want To Be Taxed as a C Corporation

Cannabis Legal Group write …The Limited Liability Company (LLC) is a flexible business structure that offers limited liability protection to its owners. For many business owners, it is a preferred type of business entity because it is generally cheaper and easier to set up a LLC, you can structure it to be member-managed or manager-managed, and it avoids the “double taxation” that C Corporations are subjected to.

Nevada: Department of Taxation Deputy Executive Director Jorge Pupo faces grilling from lawyerss

Nevada: Department of Taxation Deputy Executive Director Jorge Pupo faces grilling from lawyerss

Sounds as though he might have enjoyed his grills but not the grilling that followed. “Pupo testified in June during the marathon hearing in District Judge Elizabeth Gonzalez’s courtroom that last year’s controversial cannabis license selection process wasn’t tilted despite the lunches and dinners he had with dispensary owners and representatives just weeks before announcing a new round of applications. In the end, 462 applications were processed with 61 conditional retail licenses granted, some to companies run by Pupo’s dining companions.”