Following the 2020 November ballot, medicinal cannabis is now legal in 36 states, and recreational cannabis is legal in 17 states. However, Cannabis remains federally illegal, and because of this, banking continues to be a struggle for many cannabis companies. Now, the rise of altcoins has many wondering if cryptocurrency...
The cannabis industry emerged as a bright light during the COVID-19 pandemic. As many other industries face staffing shortages and economic uncertainty, the cannabis industry is surging. According to the 2021 Leafly cannabis industry jobs report, cannabis job growth exceeds every other American industry. This exponential growth in the last...
IRS Tax Code Section 280E is one of the biggest challenges for the cannabis industry, causing an increased tax burden for cultivation facilities, medical marijuana manufacturers, dispensaries, and retail stores. Even cannabis-related businesses that do not directly interact with the product are often subject to Section 280E. With so much...
While many states have legalized cannabis for medical and/or recreational use, it’s still considered illegal at the federal level. Due to this, cannabis-related business owners continue to be challenged with operating their businesses. Securing banking relationships to support business practices like payroll and benefits and complying with IRS Tax Code...
On Nov 3, 2020, Arizona became the 13th state to legalize recreational marijuana for adults 21 and older when Arizona voters passed Prop 207 by 60% to 40%. The new law is known as the Smart and Safe Arizona Act (SSAA). How well do you know Prop 207 and the changes...
With the passage of Arizona’s Proposition 207 (the Smart and Safe Arizona Act), recreational use and possession of marijuana have been legalized for people 21 and over. Prop 207 is certainly a victory for the cannabis industry, but beyond legalization, there are also major benefits for Arizona’s economy and the...
There are many human resources areas and activities to fulfill at your cannabis business. How confident are you that your HR department is performing as well as it should? Whether you have an internal HR team or work with an HR provider, you can measure how well they're supporting your employees...
Congress passed The Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security (CARES) Act earlier this year, but many cannabis businesses continue to have questions on whether their business qualifies to receive COVID-19 employee benefits and potential tax credits. With COVID-19 cases rising dramatically during...
Proposition 207, also known as the Smart and Safe Arizona Act (SSAA), passed in the November 2020 election, making Arizona one of 13 states to legalize cannabis for recreational use and possession. Here’s what you need to know about Prop 207 and what it means for Arizona. Prop 207 / SSAA...
Cannabis employers are working more than ever to create a healthy work environment, support a safe and productive workforce, and protect their own business from additional risk. If you’re working with an HR provider, they should be assisting your business with fulfilling the areas above and providing you with COVID-19...