Regulatory Compliance Services
Regulatory Compliance Services – Accounting, Tax, Licensing represents core services that aBIZinaBOX provides CA commercial cannabis businesses. We serve the industry with a significant depth of experience and expertise.
- The unique financial record-keeping needs of cultivators, distributors, extractors, processors, and retailers.
- Experience with the selection of optimal operating structures for each participant in the California marijuana industry.
- Experience in adjusting structures and modifying financial record-keeping to comply with a rapidly evolving regulated California marketplace.
- An understanding of the challenges presented by a long history in this industry of “doing business in cash” and the associated problems.
- A practical understanding of the banking, card processing, and anti-money laundering issues applicable to this industry.
It’s easy to get consumed with working on the things that make you money; yet, as a business owner, that is exactly what you should be focused on. However, that doesn’t mean that you can ignore risk mitigation and revenue assurance. By not taking a proactive approach to cannabis-industry compliance measures you’re playing Russian roulette with your company; don’t let luck be your biggest liability.
Despite their best intentions, the fact of the matter is that around 77% of cannabis businesses are noncompliant. The compliance of different cannabis businesses varies from market to market and relates directly to the difficulty businesses are having with constantly shifting in local regulations. Compliance is a critical factor in community acceptance.
If dispensaries are the face of the cannabis industry, companies that grow marijuana, are its beating heart. When measuring the growth of grow operations, it’s imperative to note that different state markets feature both vertically integrated dispensaries and stores with grows, and commercial cultivators who sell their marijuana to infused-product makers and dispensary retailers.