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03/16/2023

Cannabis Quarterly insights, Q1 2023: Cannabis state market watch, social equity, and more

    cannabis plant sunset

    Top 8 compliance tips for cannabis businesses

    Managing compliance for a business in a highly regulated industry like cannabis can seem overwhelming. There are onerous requirements for managing record-keeping, reporting, inventory tracking, testing, packaging and labeling, and security systems. Here, Simplifya recaps their top tips to help make it easier for businesses to manage their cannabis compliance efforts.

    In case you missed it:

    Boosting economic resilience during uncertain times

    This recent article from CohnReznick’s CFO Advisory team could not be more applicable to the current state of the cannabis industry. The general need to focus on cash preservation, cost of working capital, customer buying patterns, and tight labor markets is much more acute in cannabis given the industry’s lack of available growth capital, continued regulatory challenges, and rapidly evolving competitive environment at the state and local level. Read article >

    Cannabis company income tax provisions under 280E: A closer look

    How meaningful is a cannabis company’s income tax provision? The simple answer is, very. Learn more in this quick overview, and stay tuned as we dive deeper into this topic throughout the year > Read more

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    Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice specific to, among other things, your individual facts, circumstances and jurisdiction. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.