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...
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...
In the highly regulated cannabis industry, fulfilling human resources activities is often an uphill battle. Not only do the ever changing laws and standards impact an operation’s success, the continued stigma in the industry adds an extra obstacle for cannabis businesses. In order to stay focused on running a business,...
The Marijuana Business Factbook reports that the estimated number of full-time workers in the U.S. marijuana industry was between 175,000 to 215,000 in 2019. The report projects this number will more than double by 2023. As the cannabis industry continues to progress, the demand for hiring employees to ensure operations run...
The cannabis industry is a complicated space, due to both its youth and the legal circumstances surrounding it. And what complicates things even more, is the coronavirus epidemic rapidly spreading across the country and many parts of the globe. Whether you're a cultivator, dispensary, manufacturer, or an ancillary service provider,...
On December 4, 2019, four federal agencies - in conjunction with the state bank regulators, issued a statement clarifying the legal status of cannabis growth and production under the Bank Secrecy Act (BSA) for banks providing banking services to cannabis-related businesses. The statement emphasizes that banks are no longer required to...
Cannabis companies can’t claim deductions on their year-end tax forms. In 1992, Congress enacted section 280E of the Internal Revenue Code which states that deductions and credits are not allowed for any expenses paid during the tax year for business activities that involve the sale of controlled substances, which includes...
Access to financing, tax codes, and compliance are just a few of the obstacles cannabis businesses are facing in this period of growth in the industry. They also tend to be the top three HR challenges cannabis business face, and they often demand additional resources, attention and education. Banking With cannabis currently...