How Do Dispensaries Pay Their Employees?
Highlights How do dispensaries pay their employees? With nearly 15,000 dispensaries in the U.S., the question of how they handle payroll becomes critical. Even as recreational marijuana legalization keeps spreading across the country, cannabis business owners still face complex challenges in operating legally under federal and state regulations. Banking restrictions and limitations on tax deductions […]
How to Choose a Cannabis Payroll Company
Highlights Finding a reliable cannabis payroll company is crucial for any cannabis business owner. Unlike other industries, cannabis operations can face unexpected roadblocks when it comes to payroll. As a result of banking or federal regulations, payroll providers tend to stay away from businesses within the cannabis industry. This guide will help you select the […]
How to Protect Your Interests in Cannabis Business Partnerships
The destigmatization and legalization of cannabis have been very positive changes for the industry, but it hasn’t only been an increase in consumer sales that has contributed to the industry’s boom. Venture capital investors, as well as businesses that were formerly agnostic (perhaps even opposed to cannabis) are now pouring investment dollars into the industry, […]
Why Isn’t Payroll Easier for Cannabis Businesses?
Way back in 2013, the Obama administration signed the Cole Memorandum, mandating that state-licensed cannabis businesses would not be prosecuted unless they explicitly violated a federal law. Unfortunately in 2018, the Cole Memorandum was rescinded creating uncertainty throughout the industry.
Tax Code Update Gives Cannabis Businesses with 280E Struggles Options
As all cannabis business owners know, there are many challenges the industry faces when managing taxes and the IRS, particularly where IRC Tax Section 280E is concerned. This fact was harshly underscored earlier this year when the Treasury Inspector General for the Tax Administration (TIGTA) released a report suggesting large noncompliance throughout the industry.
The Cannabis Business Guide to the IRS 280e Tax Code
Over the years, cannabis has been criminalized and then decriminalized, only to be criminalized again. Cannabis has now been legalized statewide in California. With legitimate businesses popping up left and right, it’s safe to say that it will remain decriminalized. There’s just one caveat: While it may have been legalized for medical and/or recreational use […]
Cannabis Banking and Understanding The 280E Tax Code
We probably aren’t the first ones to tell you that when it comes to your cannabis business and banking solutions, the financial challenges, such as the 280E tax code, are the ones you simply can’t avoid or overlook. Even though your cannabis business operates in a cannabis-legal state, the federal government still has control over […]
Top 5 Cannabis Banking Issues Your Business Should Consider
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