David McManus
Should Cannabis Operators Prepare for Federalization in 2023? Not so fast…
Cannabis Business Executive (February 8th, 2023) – The Administration took bold steps last year that signaled an openness to federalizing cannabis. Plenty of speculation has followed, and it seems clear that the federal market could open soon. My perspective is that 2023 is not the year, and probably not 2024 either. Federal legalization is on […]
McManus Weighs in on Cannabis in 2023
Cannabis Regulator (January 23rd, 2023) – Interview: What Does 2023 Hold for Cannabis Companies? The legal cannabis industry remains fluid and growing as we head into a new year. Two more states approved recreational laws on Election Day 2022, expanding the map where marijuana is legal…
Year-end planning: focus on budgets and tax for cannabis operators
Cannabis Business Executive (November 22nd, 2022) – As we approach the close of a turbulent year, cannabis operators have an opportunity to establish a strong finance and tax strategy heading into 2023. You can enter the year from a position of strength by focusing on tax planning, tax compliance, and budgeting to ensure healthy cash […]
Watch Now: 2022 Year-End Tax Planning & Compliance for Cannabis Businesses
Year End Cannabis Business Tax Planning In this live webinar, AAFCPAs’ Cannabis Practice Leaders covered Federal & State tax planning strategies for cannabis businesses. Listen to hear what you may need to consider now to optimize your 2022 tax position. Topics Covered Include: Key considerations for Tax Compliance Readiness 280E Tax key considerations, and the […]
MA Cannabis Reform Bill Signed by Governor
On August 11, 2022, Governor Charlie Baker signed into law the largest cannabis reform bill Massachusetts has seen since 2017: An Act Relative to Equity in the Cannabis Industry. The bill focused on welcomed provisions for operators: MA Decouples from Federal 280E, Offering Significant Tax Savings Social Equity Trust Fund Established, for the benefit of […]
AAFCPAs Provides Inventory Costing and 471 Guidance at AICPA & CIMA Cannabis Conference
AAFCPAs’ Cannabis Practice Leader David McManus, CPA, CGMA will present Inventory Costing and 471 Guidance to cannabis industry experts, CPAs, Attorneys, Tax Advisors, and peers experienced and inexperienced with the sector at the Association of International Certified Professional Accountants (AICPA) & Chartered Institute of Management Accountants (CIMA) Cannabis Industry Conference on August 8th in Denver, CO and Live […]
Cannabis Business Executive: Easing the burden of cannabis state tax compliance
Cannabis Business Executive (June 16, 2022) – Keeping pace with state sales and excise tax requirements can be a significant burden for cannabis operators. Make no mistake, the tax collection is a high priority to states, and as the industry grows, penalties and fines for late payment are becoming more common.
MA Votes to Decouple from Federal 280E
On May 18, 2022, in a 153-2 vote, the Massachusetts House of Representatives approved sweeping marijuana reforms, which includes two welcomed provisions for operators! MA House Votes to Decouple from Federal 280E Tax Code The House voted to amend the state’s tax code to officially decouple from the federal tax code with respect to 280E. This […]
Cannabis Business Executive: Entity structure considerations for MSOs
Cannabis Business Executive (April 7, 2022) – Multi-state operators may need to weave a complex web when it comes to corporate structure. Operators entering new jurisdictions must consider many factors…