CannaQuarterly Q3 2023: Business Strategies and Trends

    cannabis ecommerce

    These articles are part of CannaQuarterly, our quarterly email newsletter for cannabis industry stakeholders. Subscribe now to make sure you receive future issues.

    WEBINAR | Cannabis Horizons: Strategies for what’s ahead

    Join us Oct. 17 at 2 p.m. ET as a panel of leading cannabis business advisors share their unique industry insights and predictions. Don't miss this opportunity to gain a deeper understanding of where the cannabis industry is headed and how to navigate the evolving landscape.

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    Video: Rescheduling cannabis: Regulatory and tax perspectives

    The news came earlier this month that HHS has recommended that the DEA move cannabis from Schedule I to Schedule III of the CSA – a move that would have vast implications for the industry. We sat down with two experienced industry professionals to explore their perspectives on the various questions, implications, and milestones we may see along the road ahead. Watch the conversations:

    VIDEO | Receivership as a solution for struggling cannabis businesses

    Receivership can be a good option for distressed cannabis companies, but it remains a little-understood process. Jacques Santucci, president of Opus Consulting, recently joined us to shed light on the receivership process and how it works, including insights and considerations specific to cannabis businesses.

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    How meaningful is the total tax expense for a cannabis company?

    Total tax expense is even more important for a cannabis company than it might be for a company to which Section 280E does not apply. But because of the various complexities involved, stakeholders may ask: What does a company’s total tax expense mean? Is there a way to predict it? Here, we explore the total tax expense within a company’s financial statements and how meaningful it is. > Read total tax expense article

    Plus: A proposed Accounting Standards Update would enhance the detail that a company is required to disclose within its income tax footnote. Read highlights that would have the greatest impact on cannabis companies if adopted. Read ASU update >

    SALT Shaker: State and local developments and trends in tax and more

    Cannabis businesses must keep careful track of the many state and local taxes, regulations, and market conditions they may be subject to. Catch up on recent state-specific developments in tax rates, procedures, and more, and what they could mean for your business.

    Harlow to lead Cannabis practice

    Michael Harlow, CPA, Partner, has been named leader of CohnReznick's Cannabis practice. In addition to having served as the firm’s cannabis tax leader since the inception of the practice six years ago, Michael has advised clients throughout the supply chain, ranging from independent operators to vertically integrated operators in the largest legal cannabis markets in the country.

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    Michael D. Harlow

    Michael D. Harlow

    CPA, Office Managing Partner – Bethesda and Managing Partner - Cannabis Industry

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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 LLP, 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.