When the New Frontier of rescheduling comes, what can Cannabis cultivators learn from microbreweries? November 29, 2023 Dave McManus Accounting, Descheduling or Rescheduling Marijuana, Federal 0 Comments By Dave McManus With the drive to federalization starting to accelerate, momentum is building around rescheduling cannabis. This would bring a host of changes that are frequently discussed, such as easier access to capital, banking, and the removal of 280E.… Read More→
Cost-cutting and Efficiency Strategies for Cannabis Operators July 18, 2023 Dave McManus Accounting, Banking, Finance & Real Estate, Best Practices 0 Comments After a period of solid growth, cannabis markets in many regions, including Massachusetts, have begun to plateau due to heavy competition and market saturation. While more mature states have been hardest hit, others like Vermont or those still in their… Read More→
The Green Rush: What CPAs Should Know Before Considering Cannabis Clients April 24, 2023 AggregatedNews Accounting 0 Comments As the cannabis industry grows, more—and more complex—opportunities for CPAs arise. Before rushing into serving this unique client base, here are some challenges and risks CPAs and their firms should consider. In recent years, the U.S. cannabis industry has been… Read More→
Should Cannabis Operators Prepare for Federalization in 2023? Not so fast… February 8, 2023 Dave McManus Accounting, Banking, Finance & Real Estate, Multiple State Operators 0 Comments The Administration took bold steps last year that signaled an openness to federalizing cannabis. Plenty of speculation has followed, and it seems clear that the federal market could open soon. My perspective is that 2023 is not the year, and… Read More→
How to Compute California’s Cannabis Business, Excise, and Sales Taxes January 4, 2023 Tom Hymes Accounting, News & Insights 0 Comments As 2023 begins, the responsibility for paying California’s cannabis excise tax shifts from industry distributors to retailers. The tax rate, which will remain at 15 percent until mid-2025, when it is subject to change, is based on “gross receipts from… Read More→
Year-end planning: focus on budgets and tax for cannabis operators November 22, 2022 Dave McManus Accounting 0 Comments By Dave McManus As we approach the close of a turbulent year, cannabis operators have an opportunity to establish a strong finance and tax strategy heading into 2023. You can enter the year from a position of strength by focusing… Read More→
What data should Cannabis Operators use to drive decisions August 24, 2022 Dave McManus Accounting, Banking, Finance & Real Estate 0 Comments Data and finance are increasingly linked, and cannabis dispensaries that are growing fast – or facing headwinds – should be on the lookout for information that helps them adapt. Gathering the right analytics has become top of mind for financial… Read More→
Easing the burden of cannabis state tax compliance June 16, 2022 Dave McManus Accounting, Multiple State Operators 0 Comments Keeping pace with state sales and excise tax requirements can be a significant burden for cannabis operators. The indirect nature of the tax – that it is collected at point of sale as part of a transaction and then must… Read More→
Entity structure considerations for MSOs April 4, 2022 Dave McManus Accounting, Multiple State Operators, Taxes 0 Comments Multi-state operators may need to weave a complex web when it comes to corporate structure. Operators entering new jurisdictions must consider many factors, the most significant being tax exposure, licensing restrictions, and potential exit scenarios as they determine which entity… Read More→
New states, new markets: financial modeling for MSOs February 9, 2022 Dave McManus Accounting, Best Practices 0 Comments Becoming a multi-state operator (MSO) in the cannabis industry requires planning and adapting to regional nuances unlike almost any other business. Financial modeling is a crucial step to understanding what lies ahead, and operators have myriad state-specific factors to consider… Read More→
Multi-State Tax Considerations for Multi-State Operators January 5, 2022 Dave McManus Accounting, Multiple State Operators, Taxes 0 Comments Cannabis legalization continues to gain momentum across the country, with several new states having legalized marijuana in 2021. As of this post, the number of states in which recreational marijuana is legal is 18, and 16 other states allow for… Read More→
Are you ready for an exit? November 15, 2021 Dave McManus Accounting, Mergers & Acquisitions 0 Comments Consolidation is a defining aspect of the cannabis industry in its current stage. Mergers and acquisitions are mounting at a breakneck pace: Viridian’s Deal Tracker counts 265 North American transactions YTD in 2021, compared to 71 in the same period… Read More→
Key Risks and Challenges Facing Cannabis Businesses Serving the Growing U.S. Market September 27, 2021 Lawrence Baye Accounting 0 Comments By Lawrence Baye, CMC, CISA and Mark Bednarz, CPA, CFE, CISA Cannabis has been in the headlines again as voters in many parts of the country approved its availability for recreational use during the last election cycle. Attention has shifted… Read More→