Posts by Josh LeBaron
Weighing The Legal Cannabis Industry’s Catch-22 Problem
What is keeping this industry hailed by some pundits as the next Silicon Valley from becoming a mainstream powerhouse? The answer is simple: marijuana is still federally illegal. As a result, cultivators and retailers cannot take normal tax deductions like other businesses due to U.S. Code Section 280E, which is the federal statute that states that a business engaging in the trafficking of a Schedule I or II controlled substance is barred from taking tax deductions or credits.
Read more here: http://bit.ly/2KNBy4l
Cannabis For The Win: Sports Leagues See The Light On CBD
Basketball’s BIG3 has become the first professional sports league in the United States to allow its athletes to use cannabidiol (CBD), the nonpsychoactive ingredient in cannabis that many people use to manage pain and inflammation.
Link to article: https://www.forbes.com/sites/nickkovacevich/2018/08/01/cannabis-for-the-win-sports-leagues-see-the-light-on-cbd/#3bcf79de8577
Gov. Andrew Cuomo Announces Plans to Regulate Adult-Use Marijuana in New York
Big news in New York as Governor Cuomo announced today the establishment of a working group appointed to draft legislation to legalize and regulate the adult use of marijuana in the state.
Link to article: http://www.cannabisdispensarymag.com/governor-announces-plans-regulate-adult-use-marijuana-new-york.aspx
LivWell’s John Lord on Colorado’s Marijuana Future, Canada and More
John Lord, CEO of one of Colorado’s largest dispensary chains, LivWell, on restrictions they face due to 280E tax code, Colorado’s cannabis future and more.
Link to article: http://www.westword.com/marijuana/livwells-john-lord-talks-about-colorados-marijuana-future-canadas-new-weed-market-and-more-10555882
Raising Capital: Cannabis IPOs Explained
Interested in taking your cannabis business public or investing in the industry? Read this guide published by Cannabis Dispensary Magazine for a detailed look at what you need to know.
Link to article: http://www.cannabisdispensarymag.com/raising-capital-cannabis-ipos-explained.aspx
Accounting and Compliance Services for Maryland Medical Cannabis Enterprises
Full Service Accounting
We offer comprehensive accounting, bookkeeping, and outsourced CFO advisory services to support the ongoing operations of Maryland medical cannabis businesses in accordance with state regulations and accounting best practices.
Business Consulting
Our business consultants work with medical cannabis enterprises to navigate the challenging business and regulatory environment that is the Maryland medical marijuana industry.
Compliance Support
Our professionals understand the regulatory implications on medical cannabis enterprises, and work with Maryland dispensaries, Maryland cultivators and Maryland distributors to remain compliant while promoting growth.
Tax Planning and Preparation
The Canna Business Solutions CPAs are highly qualified and experienced in tax preparation and planning, and have extensive knowledge of the legal complexities that Maryland medical marijuana enterprises face.
A Foundation for Growth
Canna Business Solutions LLC understands that maintaining compliance with Maryland medical cannabis regulations can have significant implications on Maryland dispensaries, cultivators and distributors. Our accounting professionals have the skills and experience necessary to provide Maryland medical marijuana enterprises with an array of services that support business operations and promote sustainable growth.
Canna Business Solutions is proud to be a preferred accounting vendor of the Maryland Medical Dispensary Association. Contact us at 410.494.8989.
