David McManus

All Topics

Lawsuit Returns $1.2M in Community Impact Fees to Cannabis Businesses

Lawsuit Returns $1.2M in Community Impact Fees to Cannabis Businesses

AAFCPAs would like to make Cannabis clients aware that Caroline’s Cannabis recently reached a $1.2 million settlement with the town of Uxbridge, Massachusetts contesting millions of dollars in community impact fees imposed on marijuana businesses. The lawsuit claimed that the town had not provided any documentation justifying a host community agreement (HCA) fee, which is […]

Social Equity Program Application Opening February 5th

Social Equity Program Application Opening February 5th

The Massachusetts Cannabis Control Commission announced that it will begin accepting applications for the fourth cohort of its Social Equity Program (SEP) starting Monday, February 5. Applications will be accepted until April 30th, according to its press release. Applicants are eligible for the Social Equity Program (SEP) if they demonstrate they meet at least one […]

BBJ: How to apply to state cannabis grants, according to finance expert Dave McManus
Boston Business Journal BBJ

BBJ: How to apply to state cannabis grants, according to finance expert Dave McManus

Boston Business Journal (January 31, 2024) – After years of waiting, cannabis social equity companies in Massachusetts can start applying to state grants to support their businesses. Last week, the state Executive Office of Economic Development launched the “Immediate Needs Grant Program,” which is first release of grants from the state’s Cannabis Social Equity Trust […]

Immediate Needs Grant Program Funding Available, Application Due February 15th

Immediate Needs Grant Program Funding Available, Application Due February 15th

AAFCPAs would like to make Cannabis clients aware that the Massachusetts Cannabis Control Commission announced on January 23rd the availability of financial resources with the launch of its first funding from the Cannabis Social Equity Trust Fund (Trust Fund). The Immediate Needs Grant Program will offer grants to support cannabis business license holders with urgent […]

Massachusetts’ Cannabis Social Equity Trust Fund to Soon Offer Grants

Massachusetts’ Cannabis Social Equity Trust Fund to Soon Offer Grants

AAFCPAs would like to make clients aware that Massachusetts’ supplemental budget passed late last year includes a procedural fix to the Cannabis Social Equity Trust Fund. This means the state-wide cannabis industry, particularly communities of color, may soon gain access to millions in state funding meant to diversify entrepreneurship opportunities. One of the greatest obstacles […]

When the new frontier of rescheduling comes, what can cannabis cultivators learn from microbreweries?

When the new frontier of rescheduling comes, what can cannabis cultivators learn from microbreweries?

With the drive to federalization starting to accelerate, momentum is building around rescheduling cannabis. This would bring a host of changes that are frequently discussed, such as easier access to capital and banking along with the removal of 280E. A crucial big picture issue that is less front and center, however, is the type of […]

Watch Now: Cannabis Tax Webinar 11/7

Watch Now: Cannabis Tax Webinar 11/7

As we approach the conclusion of 2023, the Cannabis Practice at AAFCPAs extends a warm invitation to our esteemed clients and friends to proactively evaluate their comprehensive financial status in anticipation of strategic year-end tax planning. Please remember, implementing the majority of tax-saving strategies necessitates action on or before December 31. At AAFCPAs, we stand […]

Watch Now: Cannabis Business Transactions for Growth & Exit Webinar

Watch Now: Cannabis Business Transactions for Growth & Exit Webinar

AAFCPAs has advised Cannabis clients through the years on a variety of business transactions. These have included mergers, acquisitions, divestitures, licensing of intellectual property and brands, issuance of stock options, and more. In this session, AAFCPAs provides insight into some of the most popular business transactions in the cannabis space, guidance on accounting for these […]

AAFCPAs to Speak at NECANN NJ

AAFCPAs to Speak at NECANN NJ

AAFCPAs’ Cannabis Practice leaders Dave McManus, CPA, CGMA and Janice O’Reilly, CPA, CGMA have been invited to speak at the 2023 New Jersey Cannabis Convention being held September 8-9 at the Atlantic City Convention Center. The two will take the stage on Friday, September 8, 2023 from 11:30 AM to 12:20 PM to present “What […]