Marijuana Industry Archives

06Oct

Cannabis Research Efforts Progressing Despite Federal Tax and Banking Regulations

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By Michael Harlow and Craig Golding Partners at CohnReznick There are some unique challenges to conducting research in the United States on the medical applications of cannabis. Cannabis’ federal Schedule I classification presents several obstacles for cannabis industry operators and businesses, even for those located in states where medical and recreational use is legal. Strict [...]

15Sep

States Challenged to Optimize Cannabis Tax Revenues

Marijuana Insights

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Some reinventing the cannabis tax-reform wheel as they go along By Tracy Curley, Partner at Cohnreznick The legal status of cannabis presents a challenge toward advancements in quality assurance and medical research. Currently, the Controlled Substance Act carries no distinction between the medical and recreational uses of cannabis, which is classified as a Schedule I […]

31Aug

States Challenged to Optimize Cannabis Tax Revenues

Marijuana Insights

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Some reinventing the cannabis tax-reform wheel as they go along By Bob Moss, Principal, National Director of Governmental Affairs & Eddie Delgado, CMI, Cohn Reznick For the states with cannabis initiatives on the ballot this fall, there is a fine line between passing legislation and being prepared to implement the new law. With time and more […]

30Aug

Identifying the Relative Value of a Cultivator License, By State

Marijuana Insights

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By Beau Whitney, Senior Economist for New Frontier Data With investors seeking data about how to ascertain the value of a license, or at least identify and contrast opportunities, New Frontier Data recently compared the respective Total Addressable Market (TAM) in each of six states to the number of licenses they have respectively proposed or […]

26Aug

Growth Strategy for the Green Ocean

Marijuana Insights

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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 […]

05Aug

Up in Smoke: Alpenglow Botanicals, LLC V. United States

Marijuana Insights

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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 […]

22Jul

Beware! Are you in compliance with your cash payments?

Marijuana Insights

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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. […]

08Jul

The Patton Family, Green Meadows Farm, and a Commitment to Giving Back

Marijuana Insights

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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 […]

03Jun

Questions and Answers with an Original Licensee Holder

Marijuana Insights

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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 […]

19May

The Fight for Weed

Marijuana Insights

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By Bob Moss, Principal, National Director of Governmental Affairs for Cohn Reznick For those of you that remember the 1971 top pop song, “I Feel the Earth Move” by Carole King, it was also in 1971 that President Nixon announced the War on Drugs, which classified marijuana as a Schedule 1 drug. Forty seven years […]