Westside Voice - L.A.’s Post

WeHo Issues Cannabis Tax Rebates, but Debates Over Industry Regulations Linger. Read about the issues here: https://lnkd.in/ga7wEzgY #cannabisculture #cannabisbusiness #dispensary #cannabislounge #regulation #weho #WestHollywood #taxrebate

It's always great to see improvements in tax #policies for #cannabis operators in difficult markets. Hopefully more states will learn from these mistakes and avoid the "potency tax" moving forward! What do you think about this move and the NY cannabis industry as a whole? Comment below!

Are you a new entrant into the cannabis industry, but have no understanding of the history of cannabis prohibition or where you stand in that timeline? Do you believe that the government will play fair and the media will remain neutral? Are you spending a lot of money on lobbying and industry association memberships, but receiving no tangible returns? If you're starting a cannabis company, do you just grab some growers and hope for the best, or do you speak with people who have been involved in the legalization process? If you're looking for a wide perspective on the process of cannabis legalization and change, drop me a line. Let's discuss how you can gain a deeper understanding of the industry and ensure a successful venture.

The validity of 280E has consistently been challenged by many taxpaying companies. Despite recent advancements in circumventing certain restrictions, rescheduling cannabis and completely eliminating 280E tax burdens are crucial for cannabis operators to unlock their maximum growth potential.   Check out this piece from Benzinga Cannabis where I go into more detail on 280E. https://lnkd.in/eqXgRZ3v

For many states, taxing #cannabis is brand-new territory. Taxing recreational cannabis is sometimes seen as a potential gold mine for tax revenue, but the reality is more complicated. Watch: Green Rush: Principles for Taxing Cannabis https://hubs.ly/Q02zSGFh0

For many states, taxing #cannabis is brand-new territory. Taxing recreational cannabis is sometimes seen as a potential gold mine for tax revenue, but the reality is more complicated. Watch: Green Rush: Principles for Taxing Cannabis https://hubs.ly/Q02ttNsf0

On May 16, 2024, the Drug Enforcement Agency (DEA) officially proposed to reschedule cannabis as a schedule III, instead of a schedule I, controlled substance. This rescheduling will alleviate some difficult operational limitations and financial accounting that cannabis-related businesses have had to endure to avoid a disallowance of their business expenses as deductions for federal income tax purposes. In connection with this new federal government approach to cannabis, Senator Cory Booker has proposed new federal excise tax legislation for cannabis that, if enacted, should spur U.S. development of the cannabis industry. I explore these new developments in the attached Legal Update.

Cannabis tax complexities require insight and adaptability through the regulatory shifts. The introduction of a wholesale #excisetax, as seen in New York's recent policy evolution, presents both challenge and opportunity. Adding predictability, it allows strategizing with more certainty. However, excise tax structures differ greatly across state markets. This highlights the difference a tailored and informed approach can make in financial planning in cannabis. Leverage lies in uncovering new opportunities, before and as they emerge. At #420CPA, we decode the intricacies in cannabis, turning tax challenges into financial opportunities for our clients. In this article, my colleagues and I examine the impact this tax shift could have on streamlining compliance and strengthening the legal #adultuse market in NY. Read on in the link below to learn more about the state's evolving market and the proposal initiated by Governor Kathy Hochul. For expert help with your cannabis tax strategy, connect with our Biz Dev team at info@420CPA.com to learn how we can create opportunities together. #420CPA #cannabis #cannabisfinance

💼 Canadian Cannabis Firms Struggle Under Heavy Tax Burden 🔍 Our latest analysis reveals the financial strain on Canadian #cannabis companies as they navigate hefty tax obligations. Despite a booming industry, many firms are barely keeping their heads above water. 📖 Read the full article here: https://ow.ly/E9MW50RTKJO #THC #CBD #medicinalcannabis #cannabisproducts #cannabissales #cannabisdistribution #cannabisretail #cannabisindustry

🚨 Cannabis Business Owners: Navigating Tax Code 280E 🚨 Did you know that Section 280E of the tax code can significantly impact your cannabis business's tax liabilities? Understanding how this rule works is crucial to minimizing your tax burden and staying compliant. We've just published a detailed blog post explaining 280E and how to manage it effectively. Check it out to ensure your business is prepared for tax season! 🔗 https://lnkd.in/ecHsAiP8 #CannabisBusiness #280E #TaxStrategy #CannabisFinance #TaxPlanning