While the marijuana industry in the US still comprises a significant proportion of small, independent businesses, there has been a trend towards more mergers, acquisitions, joint ventures and partnerships. The industry is consolidating fast, but it’s not necessarily professionalizing at the same pace, at least as far as accounting practices go. Across the country, cannabis […]
As cannabis cultivators continue to establish and expand across the US, more and more are looking to automate practically every aspect of the production process. From automated irrigation systems, conveyors, climate controls and nutrient dispensers, the potential benefits are clear. Among them, reduced water usage, lower labor costs, fewer menial tasks, and more efficient applications […]
The impressive growth of the state-legal cannabis industry in the US over the past few years has not just been a boon for marijuana entrepreneurs, it’s also created new opportunities for cyber criminals looking to exploit the emerging industry’s weaknesses. Most canna-businesses are newly-established, small-to-mid size enterprises. This means that many haven’t had the time […]
Marijuana legalization has well and truly established itself as more than a movement in recent years. It’s now big business, with retail sales expected to top $37 billion in 2024. But while more and more states move to legalize cannabis, the marijuana industry continues to be underserved by financial institutions, including accountants. This not only […]
Marijuana farming in the US has undergone a lot of changes in recent years. Federal hemp legalization alongside more than a dozen states legalizing adult-use cannabis have been a boon for the marijuana cultivation industry, with a lot more winners than losers. Here, we identify six cannabis cultivation trends over these past five years that […]
Ensuring your business remains tax compliant is a challenge for every entrepreneur. Failure to do so leaves you vulnerable to an IRS audit and potential resulting penalty charges. This challenge is especially acute for marijuana business owners though due to the unique nature of the state-legal cannabis industry operating while the federal prohibition of marijuana […]
Marijuana’s federally illegal status adds extra layers of complexity and risk that cannabis business owners need to be aware of to ensure they comply with federal tax requirements. The most obvious challenge canna-businesses face as a result of federal prohibition is the reluctance of major banks and financial institutions to offer their services for fear […]
The Centers for Disease Control and Prevention (CDC) published advice for businesses that employ drivers in states where marijuana is legal on how to mitigate the risk of impaired driving. In its blog post, the CDC’s National Institute for Occupational Safety and Health (NIOSH) notes the dangers of driving under the influence of THC but […]
When it comes to the long-standing art of solventless concentrate processing, efficiency is vital to success. While making solventless concentrates is a pretty straightforward process, there are many different ways to go about it. Luckily, the formula still involves a few do’s and don’ts, and familiarizing yourself with them can make your technique more effective, […]
Though marijuana legalization continues to spread across the US at the state level, there has been little progress on implementing standardized cannabis manufacturing rules and regulations to ensure product safety and quality. This is because of marijuana’s federally illegal status, which means federal agencies like the Food and Drug Administration (FDA) and the Drug Enforcement […]
