California Commercial Cannabis Industry Regulation

By Jordan Zoot | The Cannabis Practice Group ["CPG"] of aBIZinaBOX Inc. CPA's serves commercial cannabis industry businesses in California. The CPG have experienced > 250% growth over prior period due adult-use cannabis becoming legal in 2018. The CPG has professionals in Evanston, IL, and Oakland, CA. The practice is led by Jordan S. Zoot, CPA, Managing Director – CEO, who has been in professional practice since 1982. See our capabilities reel at https://abizinaboxcannabis.com/abizinabox-cpas/managing/media-room/cannabis-reel/Mr. Zoot is licensed as a CPA in CA, FL, IL, NY, and TX. He has a national reputation of technical and transactional taxation of pass-thru entities [Partnerships, LLC's and S Corporations], private equity and alternative asset funds primarily in distressed mortgages and assets, professional services, real estate, venture-funded tech start-ups, and the commercial cannabis industry in California. The firm is skilled in dealing with:• The unique financial record-keeping needs of cultivators, distributors, processors, and extractors.• The selection of optimal operating structures for each participant in the California cannabis industry.• Adjusting structures and modifying financial record-keeping to comply with a rapidly evolving regulated California marketplace.• Understanding of the challenges presented by a long history in this industry of “doing business in cash” and the associated problems.• The practical needs related to banking, card processing, and anti-money laundering issues applicable to this industry.• The complex processes relating to permitting, licensing as well as reporting and paying cannabis excise tax and gross receipts tax at the municipal and county level.• Implementing effective strategies for addressing the onerous impact of the limitation on the deduction of ordinary and necessary business expenses imposed by Internal Revenue Code §280E on businesses engaged in “trafficking”.A Leader in California’s Cannabis Practice, the CPG will retain its position as a leader in financial record-keeping and be reporting for California’s medical and recreational cannabis industry by constantly adjusting to the demands of this evolving industry.The CPG moderates a California Cannabis Regulation subreddit at https://www.reddit.com/r/cacannabisregulation/

over 18?

You must be 18+ to view this community<p>You must be at least eighteen years old to view this content. Are you over eighteen and willing to see adult …

Internet

CPA Firms - Virtual versus Reality - digging under the hood is necessary

CPA Firms – Virtual versus Reality<p>CPA Firms – Virtual versus Reality – the advent of the internet has given rise to cloud based accounting software, …

Tax Preparation

Charitable Deduction - Cannabis Strategies Exist Inventory Deductions

Charitable Deduction – Cannabis<p>Charitable Deduction – Cannabis businesses should consider the implications of California transition rules which tax …

Personal Finance

CDTFA Releases Cannabis Excise Return Forms For Filing

CDTFA Releases Cannabis Excise Return Forms.<p>The electronic cannabis returns are now available online. You may access the online return on our website …

Cannabis

Blockchain Setting Background provides foundation

Blockchain Setting Background provides a foundation for discussion that the commercial cannabis industry in California needs to have…NOW! The best …

Blockchain

Smelly Family Partnership, LP

Smelly Family Partnership, LP is where the Smelly’s go for R&R.<p><b>You know you are a member of the Smelly Family if –</b><p>Your house moves but your twelve …

Salvation Army

Slack-Jawed Yokel Attorney?? - Cletus Legal Adventure

Slack-Jawed Yokel Attorney<p>…we all shuddered at the thought of Cletus Smelley as a cesspool of jurisprudence. This is the dude that almost gave …

College & University

Slack-Jawed Yokel - Crypto FBAR disrespects himself again

Slack-Jawed Yokel – Crypto FBAR<p>Slack-Jawed Yokel – Crypto FBAR – has managed to defy the odds and massively DISRESPECT HIMSELF YET AGAIN. A recent …

Income Tax

aBIZinaBOX – Cannabis Practice Group

Cannabis

Lessons June 30, 2018 - How California Arrrived At This Point

Lessons June 30, 2018 – The news is full of articles about $350 million worth of cannabis being “Destroyed by California” …as if the state<p>was …

Cannabis

CA Com Doc Suite - CCDS - Updated Forms - Beta

CA Com Doc Suite – CCDS<p>CA Com Doc Suite – CCDS is our document suite for use by California Distributors.<p>We are providing a preview of a something …

Cannabis

Legal Cannabis Support – Clarion Call - Put Client Success FIRST

Legal Cannabis Support – Clarion Call – I am writing this post to express my personal views regarding the incredible opportunity 2018 provides me as …

Laissez-Faire

California Combined Cannabis - CCCBRC - Regulatory Agencies

California Combined Cannabis Business Representation Credential – CCCBRC<p>California Combined Cannabis Business Representation Credential – CCCBRC came …

Databases

California Cannabis Cultivation – Qualification as Farming

The classification of cannabis cultivation as “agricultural activity” or farming would appear to be a simple question. However, upon investigation, …

Cannabis

Analysis IRC Sec. 280E comprehensive article detailed

Marketing;<p>Advertising;<p>Selling expenses;<p>Other distribution expenses;<p>Interest;<p>Research and product development;<p>Losses under IRC §165;<p>Percentage …

Selling

CPA Firms – Virtual versus Reality

Virtual Reality

Smelly Stinky EAs Home - Smelly Stinky EAs

Smelly Stinky EAs Home<p>If you want Smelly wisdom and Stinky ideas the place for that is here.<p>For something serious checkout aBIZinaBOX Inc., …

Snacks

aBIZinaBOX CPA's - Cannabis Tax, Tech for California

aBIZinaBOX CPA’s – Tax, Tech – CA Cannabis<p>Welcome, to aBIZinaBOX CPA’s – Acctg., Tax, Tech. California Cannabis Industry. Please make sure that you …