Filtered by tag "Cannabis Markets"

17 Million Potential Cannabis Patients in Latin America

Regional Stakeholders Meet at InterCannAlliance Symposium to Discuss the 9 Foundational Pillars of Emerging Global Medical Cannabis Market By Giadha Aguirre de Carcer, CEO, New Frontier Data The 9 Foundational Pillars There are more than 60 nations worldwide seeking to decriminalize or legalize cannabis, mostly for medical applications. To date, New Frontier Data has observed, […]
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How Alleged WHO Recommendations Would Affect International Cannabis Markets

By Beau Whitney, Vice President, and Senior Economist, New Frontier Data An anticipated recommendation by the World Health Organization (WHO) calling for the international rescheduling of “marijuana” and derivative products is poised to be a watershed moment with implications to be observed throughout global markets. If an unconfirmed leak of a WHO document reported February […]
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Updated Projections as Lawmakers Look for Federal Legalization in 2019

By J.J. McCoy, Senior Managing Editor, New Frontier Data Rumors of another federal shutdown notwithstanding, 2019 is poised to be a watershed year for cannabis reform potentially enabling a $56 billion annual U.S. cannabis market by 2025. Those were among the findings shared last week during a National Press Club event sponsored by New Frontier […]
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Parsing Some Differences in Product Demand and Oversupply

By J.J. McCoy, Senior Managing Editor, New Frontier Data   When New Frontier Data released its free market update to the industry last fall, 2018 Cannabis Industry Trends Report: Market Insights offered a look into the growing demand for non-flower products.   In Illinois, for example, monthly revenues from dispensary sales had increased by 54% […]
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Growth Strategy for the Green Ocean

Setting a new path for market entry into the cannabis industry Cannabis operators who want to shape the future of legal consumption in the United States want to create innovative new products, reach broad new customer sets, and promote positive uses for cannabis to meet the $80 billion market opportunity the industry is chasing. While cannabis […]
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Up in Smoke: Alpenglow Botanicals, LLC V. United States

Challenging IRS authority to deny “ordinary and necessary” business expense deductions By Tosin Hassan, CPA, CohnReznick In the words of Lauryn Hill, “It’s funny how money changes a situation, miscommunication leads to complication.” With the explosion of cannabis businesses across the country, many business owners are not profitable because of significant tax bills impacting cannabis […]
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Beware! Are you in compliance with your cash payments?

By Mary Amato, CPA, Partner, CohnReznick It is no secret that the Internal Revenue Service (IRS) is aggressively auditing cannabis businesses. The focus is on more than the limitations placed on the industry by IRC §280E. The IRS aggressively audits non-compliance of Reporting of Cash Payments. Form 8300, is not an income tax reporting form. […]
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The Patton Family, Green Meadows Farm, and a Commitment to Giving Back

Historic Massachusetts farm cultivates medical cannabis with a social conscience By Michael Harlow, CPA, Partner Beginning decades ago, George and Joanne Patton, son and daughter-in-law of the famed World War Two general, initiated traditions of community partnership and support that remain active today. Throughout their thirty-year operation of Green Meadows Farm, they sought to share […]
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Questions and Answers with an Original Licensee Holder

A discussion of growing pains, regulations, and current product investments By Michael Harlow, CPA, Partner CohnReznick Partner Michael Harlow:  Brian, you were one of the first operational dispensaries in Colorado. What is the single largest difference between the early days and now? Brian Rogers: We started in 2009 with one of the first medical marijuana […]
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How Cannabis Industry Participants Would Benefit if 280E is Rolled Back

By Michael Harlow, CPA, Partner 280E is the Internal Revenue Code section that has been the focus of every tax discussion related to the cannabis industry for the past 15 years.  It is the Code section that prohibits cannabis companies from deducting any ordinary and necessary business expenses from gross profit when calculating federal taxable […]
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