aBIZinaBOX Cannabis -Our commitment to the commercial business in California has caused us to create an industry-centric practice group. The group has professionals in Evanston, IL HQ and Oakland, California. Our experience, knowledge and utter tenacity and commitment to the success of both our clients and the legal commercial cannabis industry in California is unmatched. This website and numerous points of presence on industry news outlets and social media demonstrate our skill and experience in providing regulatory compliance, tax, tech, reporting, and accounting experience and services to the unique requirements of the industry. You can find our points of presence on the web at One Business – Multiple Interfaces.
We have added a searchable index of our posts that you can access here, or under the main tab on our navigation menu. You can also visit our blog repository on Cannabis Law Report here. We were shocked to see that we had published 300 posts since 12/14/18 with an average length of 1,700 words. You can find a representative sample of BEST of aBIZinaBOX Cannabis Practice Group’s thought pieces and articles at the bottom of this page.
We thought we would share our views on what are the priority issues for the legal cannabis industry in California. Every one of them needs to be aggressively thought through and solved as quickly as possible. Here is our list [it should NOT be construed as a ranking of the issue…that is an entirely different problem.
If you like our articles and commentary, you can access our material and join the discussion on our Facebook page here.
The California Attorney General issued a summary of its view of the rules applicable to medical cannabis on August 9 titled – Guidelines for the Security and Non-Diversion of Cannabis Grown for Medical Use which is riddled with errors.
We are going to have quite a bit to say about the document…as a start…
There is no mention or discussion of Attorney General Brown’s 2008 Memorandum
There is no acknowledgment of possible limitations due to ot the “safe and affordable” language in Proposition 215.
Our take away for medical cannabis is, that the only thing that has really changed is you had better get a license.
You can read more about CCA’s in our CCA Corner below, next to the “LOG IN”.
The Patreon platform also provides premium content and the ability to directly engage with our professionals to address short questions [short is determined in our absolute discretion – general guideline something we can answer off the top of our head. If we need to research materials that becomes work for regular clients or our firm. This Patreon platform offering is a work in progress and we hope you will work with us to “get it right”.
We need strongly emphasize that this offering is NOT more of the same. The skill levels of our professionals are exceptional, the services we provide require substantial experience and skills. If we reflect carefully we can count on one hand the number of firms which we believe have comparable skills in the entire California cannabis market. The articles we publish and the content on our website “telegraph” that message. Perhaps our expertise is most clearly seen in our published comments and participation in the process of commenting on Proposed Regulations and engagement with BCC, CDPH-MCSB, CFDA-CalCannabis, and CDTFA.
Our engagement is with senior Policy Analysts, Branch Chiefs, General Counsel, and Agency Directors. We made a substantial commitment to invest time, dollars and sweat to be part of “the solution” which is a successful transition to a highly regulated market which we hope will thrive. Our clients benefit from those relationships as well. We demonstrate our competence and skills with the content we produce, our input to the regulatory process and efforts on behalf of our clients. We avoid “dog and pony” trade shows and self-aggrandizement which we abhor. Check out a Bit of Yiddish Wisdom.
We are engaged and “kicking ass” directly in the fight for our California cannabis industry clients. Our practice is essentially limited to California with a small industry presence in New York and Illinois because we are licensed in those locations and we have a “boots on the ground” professional presence. Once again, we don’t engage in the “motor mouth bullshit” offering the same fungible commodity services that everyone else in the market does. We have real expertise which what you should find with a professional service firm. The way we describe ourselves is that we are head-to-head competitive with Big 4 and major law firms for both engagements and talent within the verticals and markets we practice in.
While you are at it, ask us about Cannabis Cooperative Associations [“CCA”] Corner which facilitates producers [“Cultivators”] being able to efficiently manage Marketing, Distribution, Extraction and Transportation operations, and the cutting sarcasm of our images in NoseintheBook Galleries.
Check out the shortcut to our website at DopeCPA.cool z Read about our CEO, Jordan S. Zoot, CPA in the Tax Notes article, The Business of Tax: Cannabis Tax Advising Growing Like Weeds. Don’t forget to visit our main site for general practice information at aBIZinaBOX.com.
[and now bear with us as we add a couple of paragraphs of the stuff everyone else publishes]
The unique financial record-keeping needs of cultivators, retailers, extractors, processors, and distributors.
Experience with the selection of optimal operating structures for each participant in the industry.
Experience in adjusting structures and modifying financial record-keeping to comply with a rapidly evolving regulated California market.
An understanding of the challenges presented by a long history in the industry of “doing business in cash” and the associated problems.
Significant forensic and expert witness experience and a practical understanding of the banking, card processing, and anti-money laundering issues applicable to this industry including the role of a Kovel Accountant.
Both of our Managing Directors have over thirty-five years of professional practice experience.
The story about how we, managing our own SEO internally and brought a domain that was new in December 2017 with a DA of 0 to a DA of 20 in eight months which gives us search and market parity with BridgeWestCPAs and Henry Levy Group. – aBIZinaBOX Cannabis – Moz DA – 20
A series of technical white papers that address accounting, tax and regulatory compliance for new California cannabis businesses called Cannabis Business Start-Up Series.
A comprehensive set of due diligence tools for private equity investors to use themselves or retain us to do called Due Diligence Suite
A series of commercial business documents including manifests, purchase orders, etc that are fully compliant with the IRS, FTB, CDTFA and the California cannabis regulatory agencies which we call California Commercial Document Suite [“CCDS”].
Effective strategies for addressing the onerous impact of the limitation on the deduction of ordinary and necessary business expenses imposed by Internal Revenue Code § 280E on businesses engaged in “trafficking” in a controlled substance. Our IRC Sec. 280E Repository contains a number of articles both our own original analysis and cutting-edge thought from other sources. Check it out. it is NOT the “same old bullshit that everyone else posts and claims IRC Sec. 280E expertise.
aBIZinaBOX’s – Cannabis Practice Group continues to monitor on a daily basis the evolution of the regulation of California’s cannabis industry to retain our position as a leading cannabis CPA firm with practical expertise. We will maintain our position as a leader in financial record-keeping and report for California cannabis by continually adjusting to the demands of this evolving industry.
Our website now Google Custom Search to search this site, our parent site, the cannabis regulators in California – BCC, CDPH, CDFA, CDTFA, FTB and the IRS.
If you have grown tired of tax advisors, accountants and attorneys that seem to graduate from the school of “baffle them with BULLSHIT” we should talk. It won’t take more than ninety seconds for you to recognize real experience and skills. How will you know…permit us to quote SCOTUS jurist Potter Stewart in Mishkin v. New York, 383 U.S. 502 (1966)
I”t is possible to read the Court’s opinion in Roth v. United States and Alberts v. California, 354 U.S. 476, in a variety of ways. In saying this, I imply no criticism of the Court, which in those cases was faced with the task of trying to define what may be indefinable. I have reached the conclusion, which I think is confirmed at least by negative implication in the Court’s decisions since Roth and Alberts, that under the First and Fourteenth Amendments criminal laws in this area are constitutionally limited to hard-core pornography. I shall not today attempt further to define the kinds of material I understand to be embraced within that shorthand description, and perhaps I could never succeed in intelligibly doing so. “But I know it when I see it”, and the motion picture involved in this case is not that.”
Finally…if you like our wicked sarcasm you might start with a bit of Yiddish Wisdom.
We understand that you have choices and would appreciate you considering us for your business.