California lawmakers approved $100 million in grant funding to help legal cannabis businesses transition from provisional licenses to annual ones, in a move aimed at stemming the state’s thriving illicit marijuana market. More than 80 percent of California’s legal marijuana businesses currently operate with provisional licenses under a process described as “expensive, time-consuming and difficult” […]
Cannabis continues to grow at a record pace. As the public continues to support legalization across the country, those numbers are sure to continue in an upward trajectory. A report from New Frontier Data expects that, from 2019 to 2025, the U.S. cannabis industry will increase by a compound annual rate of 21%. This means […]
It’s generally agreed upon that cannabis companies are dealt different hands depending on the states they operate in, especially during the COVID-19 pandemic. It shouldn’t be lost on anyone that weed is considered an essential staple during times of hardship — every state with a regulated marijuana program continued to allow sales to some degree […]
COVID-19 has been quite effective at shutting down a ton of businesses. The recent pandemic has also put the cannabis industry under the spotlight, as many marijuana-legal states have deemed the sector an essential service, allowing continued operation during a time where many businesses have mandated closures. These events have also highlighted service gaps – […]
The economy goes in cycles, and there’s always a mix of good and bad times. The recent COVID-19 pandemic has thrown a wrench in things – the economic effects are far beyond the housing bubble crisis that started in 2006. But while industries like the hospitality industry have taken a massive hit, some MSOs are […]
This is what the cannabis industry has been clamoring for. Too bad it took a pandemic to move things in the right direction. On May 12, a provision that would allow banks to serve state-legal marijuana businesses (without a spanking by the feds) is now part of a whopping $3 trillion COVID-19 stimulus bill. The […]
The cannabis industry keeps getting pummeled. It’s not federally legal, so banks don’t want to offer business banking services. It’s a new industry, so lawmakers in states where it is legal have generally overregulated it. On the flip side, it’s taxed to high heaven, and the feds have been the recipients of those tax dollars. […]
Quite a bit has happened over the past few weeks. The COVID-19 epidemic has changed the business climate of the U.S., if not the world. With orders for social distancing and isolation, non-essential businesses were required to close. For the company, that means no revenue. For the employees, that means no income. The cannabis industry […]
One thing you never hear is, “I can’t wait to pay my taxes.” For those in the cannabis industry, it seems like you’re taxed to the hilt. Yet here we are, on the cusp of another tax season. The feds still consider cannabis illicit, but they are happy to take taxes from the industry — […]
The cannabis industry is like any other business requiring people to function — those employees require payment and it must be accurate, on time, and not to mention, it is legally required. Payroll can be a stressful time for any company, and it is especially acute for those operating cannabis businesses. Payroll is just one […]
