"I am tremendously proud of the strong foundation we’ve built in the first quarter, which positions Verano to capitalize on what may be one of the most transformative years for legal cannabis in our nation's history,” - George Archos, Verano Founder & CEO Join us for full first quarter results today at 7:30AM CT: https://bit.ly/4a8qial.
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Great webinar to better understand some of the rescheduling implications!
Join our webinar as we discuss Cannabis Rescheduling with our partners, Cresco Labs, Perkins Coie LLP, and Simply Pure Trenton NJ & Minority Cannabis Business Association. We’ll be diving into how this will impact your business, taxation, and future industry trends. When: Monday, May 6th at [1pm ET / 10am PT] RSVP: https://lnkd.in/erPyVBte
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Join us for Part 1 of our FREE 4 Webinar Series on Cannabis in NY. In this session we'll be discussing the basics of forming a business entity and comparing the taxation of the different legal entity options.
Harris Beach and The Bonadio Group are teaming up to host part one of our 2023 State of Cannabis Webinar Series on Tuesday, July 25. Please join Harris Beach’s Meaghan Feenan and The Bonadio Group's Kristin Kowalski, CPA and Jay Jerose, CPA, CVA as they discuss Business Organization, Structuring, and Set Up. Topics will include pre-operations organization, executing operating agreements, tax structuring, and research. Register and learn more about the series here: https://lnkd.in/gACPSNUc. #cannabisbusiness #cannabisindustry #newyorkstate
WEBINAR | The State of Cannabis Webinar Series: Business Organization, Structuring, and Set Up
https://www.harrisbeach.com
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Thanks to MJBiz for including my thoughts in their Q4 earnings review. The whole article is excellent, check it out below. "Water Tower’s Redmond describes cannabis investing as “a state-led growth story with a series of hard-to-time political catalysts.” “You need both of those pieces: You need the state-led growth story to drive the revenue, and then you need the political catalysts to increase the investor base and unlock the value – especially with 280E removal.”
280E, new markets, wholesale sales top cannabis earnings season
https://mjbizdaily.com
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Considering selling your #cannabis business? An Employee Stock Ownership Plan (ESOP) could be a game-changing option for your company. On Tuesday, March 12, join Grassi's Cannabis Practice Leader, John V. Pellitteri, as he moderates the virtual panel discussion, Cannabis ESOPs: Why an ESOP is an Industry Game Changer, alongside speakers from Dentons and MBO Ventures. Register now to learn more about ESOP options, their significant #tax advantages and the nuances of navigating an ESOP transaction: https://lnkd.in/es_auMne Hannah King, Darren Gleeman, Mark Loyd
Cannabis ESOPs: Why an ESOP is an Industry Game Changer - Grassi
https://www.grassiadvisors.com
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🚨 MAJOR TIP ALERT 🚨 With all the focus on asset-light business plans, the folks at Harris Sliwoski LLP lay out some things for you to keep in mind. Learn how you can protect your brand and thrive! 🌿 Read more from Cannabis Business Executive: https://lnkd.in/e2tsDFmJ
Common Pitfalls in Cannabis Brand License Agreements - Cannabis Business Executive - Cannabis and Marijuana industry news
cannabisbusinessexecutive.com
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🚨 MAJOR TIP ALERT 🚨 With all the focus on asset-light business plans, the folks at Harris Sliwoski LLP lay out some things for you to keep in mind. Learn how you can protect your brand and thrive! 🌿 Read more from Cannabis Business Executive: https://lnkd.in/e2tsDFmJ
Common Pitfalls in Cannabis Brand License Agreements - Cannabis Business Executive - Cannabis and Marijuana industry news
cannabisbusinessexecutive.com
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As Cannabis business owners and investors grow their companies and expand operations, some will inevitably be blindsided by personal tax liabilities that aren’t protected by their corporate entity structure. The corporate entity’s structure will determine the tax implications of owners, investors, and other shareholders, and will lay the foundation of how those same people will get paid out in the future (at exit, yearly dividends, etc). As accountants, educating our clients on how to properly account for and track their revenue and costs in accordance with their entity type will save them major headaches down the road when it comes time to file their own personal returns. Join DOPE CFO Founder Andrew Hunzicker, CPA for this week’s live stream Q&A session on Personal Tax and Entity Structure Considerations for Cannabis Investors and Owners. This week, Andrew will be covering: 🟢 Cannabis tax codes and their relationship to entity structures 🟢 Different types of entity structures used in Cannabis 🟢 How to pick the best structure for your client Join us LIVE every Thursday at 10am PT and bring your questions! RSVP here 👉 https://bit.ly/3WzVLx0 #BeDOPE #CannabisAccounting #CannabisIndustry #CannabisCultivation #CannabisManufacturing #CannabisPartners #CannaBiz
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Consultant & Coach to Cannabis Firms | Speaker | Publisher of the Cannabis Management Review at mitchellosak.substack.com
What is the sexiest topic in the cannabis industry right now? For cannabis equity investors and funders, its due diligence. I’m being ironic but if you are a cash-starved business you can’t afford to lose the game in the due diligence (DD) process. Dropping the ball here could be catastrophic: the acquisition or financing partner could drive a harder bargain - or worse walk away. I have reviewed hundreds of cannabis business financials since 2016 and have yet to see a flawless set of books. This won’t pass muster in 2023. In today’s challenging market, anyone offering you cash or stock is going to want to look under your hood and make sure your business is what you say it is – and will be. Your odds of passing a DD exam will improve if you: 1. Think like an investor or buyer Early investors in the cannabis industry chased early-moving licensed operators, in most cases turning a blind eye to their weak accounting and transparency. Now, the capital markets tables have turned. The power is with the funders who have a smorgasbord of cash-starved, under-valued firms to choose from. The last few years have taught investors the importance of scrutinizing historical financials, confirming that licenses and tax filings are in order and validating product & IP claims. 2. Lock down your paperwork Ensure business records like license applications, corporate structure documents, cap tables and shareholder agreements are up to date and in compliance. This should be obvious, but many companies don’t realize how important this is until they are in the midst of a potential transaction and time is of the essence. To savvy investors, poor corporate hygiene is a sign of managerial sloppiness. 3. Help your prospective partners Having updated audited financial documents is critical. Hopefully you are working with accountants and lawyers who understand cannabis-specific considerations around 280e, IFRS etc. I often recommend having a third-party firm perform tax and accounting due diligence on your company’s books. This can help make investors comfortable with your company’s earnings, liquidity and balance sheet reporting. For example, a “Quality of Earnings” report is critical in any M&A or capital raise transaction as it helps validate adjusted EBITDA and other earnings metrics. Your balance sheet will also invite scrutiny especially when it comes to items like inventory and accounts receivable. Be prepared to explain your numbers as well as the assumptions behind them. Finally, talk is cheap. Make sure you can validate your financial projections as well as operating & brand metrics Want my content in your feed? 1) Go to my profile 2) Hit the follow button 3) click the bell icon 🛎️ and 4) select all new posts, to get notifications when I post something. Subscribe to my free newsletter (link in comments), the Cannabis Management Review, for more unique content. #cannabisindustry #cannabis #duediligence #funding
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