Marijuana Industry Archives

08Jul

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 […]

03Jun

Questions and Answers with an Original Licensee Holder

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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

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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 […]

28Apr

How Cannabis Industry Participants Would Benefit if 280E is Rolled Back

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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 […]

08Apr

Acquisition-Side Due Diligence in The Legal Cannabis Industry: Approach and Expectations for Both Sides

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By Greg Chin, Kevin Michaelan and Jeffrey Michelson, Partner Continuing with the topic of industry trends from our last post, we explore the art of acquisition-side due diligence from full-scope financial and tax to limited-scope tax-only engagements. We’ll look at what to expect and how to approach it. Although commonly geared toward the investor/acquirer, i.e., […]

26Mar

Medical Cannabis, Texas-Style: Conditions and Requirements for Use

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By Ashley Simpson, Hoban Law Group In 2015, the Texas legislature’s passage of the Texas Compassionate Use Act (Senate Bill 339) legalized medical cannabis in the Lone Star State, but only to the extent of "low-THC cannabis oil" for use by patients diagnosed with intractable epilepsy. Widening further access to any patients respectively diagnosed with […]

25Mar

Planning for the Coming Consolidation in the Cannabis Industry

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By Michael Harlow, CPA, Partner In today’s Cannabis marketplace, we continue to hear one overarching theme. The industry buzz on everyone’s lips is about “the future consolidation of the industry. This is driven by several factors: strong customer and revenue growth for retailers, price compression for wholesalers, an expected change in the legal landscape, new […]

25Mar

The Impact of Regulations on Price

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By Yona Torres, New Frontier Data Contributing Editor In the 16 months since California legalized marijuana, cannabis prices in some California market sectors have plummeted 75%, according to the Washington Post. This steep decline, paralleled in Colorado, Oregon and Washington, is a product of the number of newly-licensed cultivators and the regulations that guide them. […]

24Mar

Despite Original Design, Pennsylvania Growers Lack in Diversity

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By J.J. McCoy, Senior Managing Editor for New Frontier Data What We Have Learned: Despite requiring diversity plans among winners of the state’s first 12 permits issued, eight went to businesses headquartered out-of-state. July 9, 2017 -- Last month, Pennsylvania officials made two much-awaited announcements toward the opening of the commonwealth’s medical cannabis market next year. […]

24Mar

Discussing Proven Methods and Occasional Madness in Forecasting State Tax Revenues

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By Beau Whitney, Senior Economist & J.J. McCoy, Senior Managing Editor for New Frontier Data What We Have Learned: Forecasting tax revenue entails more than simply taking the tax receipts from previous months, annualizing sales, and then projecting the numbers forward. July 16, 2017 -- Recently, New Frontier Data’s Senior Economist Beau Whitney was invited by […]