Cannabis Industry News July 2020: Cannabis Taxes, Licensing & Legal Updates

In this cannabis industry update, we talk about news and trends that are affecting cannabis businesses throughout the world.
We cover:
+ Cannabis business licenses
+ Cannabis industry news
+ Questions from the audience

A list of the topics and question are below:
Cannabis Tax Updates (1:08)
Cannabis Legal Updates (3:55)
Cannabis Licensing & Regulation Updates (7:22)
US Cannabis Legalization Updates (11:57)
Cannabis Finance + cannabis M&A Updates (13:57)
When does it make sense to start thinking about tax mitigation and asset protection? (17:35)
Should we open up a complimentary business in our building to capture more revenue? (19:51)
Marketing: Weedmaps vs. Google, what should we spend money on? (21:23)
I am a smaller brand and I am having trouble getting into dispensaries. I can’t afford slotting fees and that means I can’t sell my products, what should I do? (23:20)
What do you think about cryptocurrency payments for cannabis? (27:17)
What are the challenges of opening a testing lab in California? Or other states? (32:12)
What are ‘burner’ cannabis distributor licenses? (36:09)
Should you move money from a cannabis-touching business to another non-plant touching business for banking purposes? (38:16)
What are some considerations when structuring my multi-license cannabis business? (39:54)
How can I reduce my cannabis business taxes? (43:44)
How do you value a cannabis business license with no operations yet? (46:17)
Do you recommend taking guidance from 471(c) to track cannabis CoGS? (49:33)

If you need help with your cannabis business, then please reach out to us at: https://greengrowthcpas.com/get-started/ or call 800-674-9050.

Posted in News & Laws

2 Comments

  1. Porshia Jackson on June 19, 2022 at 12:46 am

    Just missed you guys



  2. Rodney Miller on June 19, 2022 at 1:25 am

    Kristen Nevedall of ICFA says AB 2122 is on hold for the year. There is PR that the Assembly is going to end "the war on drugs." AB 2122’s new "Aiding and abetting" fines are continuing the war on drugs. The solution is federal legalization. Vote in November!