aBIZinaBOX is pleased to announce the aBIZinaBOX Cannabis Practice Group has opened for business. The group has professionals in Evanston [Chicago], IL and Oakland, CA. The practice is limited to the California cannabis only at this time. Given the complexity that the industry is currently facing, by concentrating our efforts in California, we seek to do one thing well rather than be mediocre at many.
We have substantial expertise in serving the cannabis industry in California with recent experience in:
- The unique needs of cultivators, dispensaries, extractors, and distributors in a regulatory compliance market that is evolving rapidly.
- Significant experience in the development of optimal operating structures for each participant in the industry in California.
- Strategies for dealing with the challenges of “doing business in cash”, banking, card processing and anti-money laundering [“AML”] issues.
Focused CA Cannabis Expertise
- Procedures for dealing with the the collection and reporting for the unique issues associated with the Internal Revenue Service [“IRS”], California Franchise Tax Board [“FTB”], California Department of Tax and Fee Administration [“CDTFA”] f/k/a California Board of Equalization [“BOE”], California Economic Development Department [“EDD”], and the California Bureau of Cannabis Control [“BCC”]. The expertise extends to dealing with permitting, licenses and excise taxes at the county and municipal levels.
- As an example, the CDTFA has published an Guide to the Cannabis Industry that will continue to be developed and rolled out.
- We have developed effective strategies for dealing with the onerous impact of the IRC. Sec. 280E restrictions on the deduction of “trafficking expenses” at the Federal level.
aBIZinaBOX A Leader in CA Cannabis Practice
Our practice will continue to evolve quickly to retain our position as a leader with practical expertise in serving cannabis industry businesses in California, rather than babbling about it as seminars as we have seen all too often. You can find the aBIZinaBOX Cannabis Practice group at http://aBIZinaBOXcannabis.com.