Accounting Archives - Cannabis Business Executive - Cannabis and Marijuana industry news

The State of Rescheduling: Where Does It Stand?

September 3, 2024
Dave McManus
Accounting, Banking, Finance & Real Estate
0 Comments

The public commentary period on cannabis rescheduling has ended, marking a key turning point in the ongoing debate over cannabis regulation. On July 22, the commentary period officially closed, with more than 43,000 comments submitted. The overwhelming majority of comments…

2024 Q2 Earnings Reports Roundup

The following is a partial listing of recently released 2024 Q2 earnings reports by cannabis-related publicly traded companies, sorted according to market cap at the time of posting. Highlights of the reports are provided below. Please follow the links for…

Another Look at the Whitney Cannabis Business Conditions Survey

The headline of the Whitney Economics press release announcing the results of its 2024 cannabis business conditions survey declared, “ONLY 27.3% OF U.S. CANNABIS OPERATORS ARE PROFITABLE,” a statistic that was also the focus of news outlets carrying the story,…

Cannabis Ventures, Startup Best Practices, and Ways to Compete

March 25, 2024
Dave McManus
Accounting, Best Practices, News & Insights
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By Dave McManus Once relatively easy to break into, the cannabis industry now demands a leaner and more conservative approach to financial management along with precise forecasting and a great deal of patience. There are inherent risks, regulatory uncertainties, and…

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
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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.…

Cost-cutting and Efficiency Strategies for Cannabis Operators

July 18, 2023
Dave McManus
Accounting, Banking, Finance & Real Estate, Best Practices
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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…

The Green Rush: What CPAs Should Know Before Considering Cannabis Clients

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…

Should Cannabis Operators Prepare for Federalization in 2023? Not so fast…

February 8, 2023
Dave McManus
Accounting, Banking, Finance & Real Estate, Multiple State Operators
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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…

How to Compute California’s Cannabis Business, Excise, and Sales Taxes

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…

Year-end planning: focus on budgets and tax for cannabis operators

November 22, 2022
Dave McManus
Accounting
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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…

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…

Easing the burden of cannabis state tax compliance

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…

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…

New states, new markets: financial modeling for MSOs

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…

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…

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