Cannabis
AAFCPAs Speaking at MJ Unpacked, Atlantic City
Janice O’Reilly, CPA, CGMA, Partner has been invited as a panelist on “Empowering Women: Navigating the Path to Capital” at MJ Unpacked, an event uniting cannabis retail and brand executives, license holders, and accredited investors who actively invest in the space. The event takes place April 9, 10, and 11, 2024 at the Hard Rock […]
Webinar: Cannabis ESOPs – The Industry Game Changer
In AAFCPAs’ recent webinar “Cannabis ESOPs: Why an ESOP is an Industry Game Changer”, David McManus, CPA, CGMA, Tax Partner & Cannabis Practice Leader and Joshua England, LLM, Esq., Partner & Tax Attorney along with Hannah King, Partner, Dentons, Mark Loyd, Partner and Co-lead of national tax practice at Dentons, and Darren Gleeman, Managing Partner, […]
TerrAscend Corp. Joins Other Operators Changing 280E Tax Position
AAFCPAs would like to make cannabis clients aware that TerrAscend Corp., in its fourth-quarter earnings call, announced it would no longer be making tax payments under Section 280E of the Internal Revenue Code. The company’s Chief Financial Officer noted its legal basis in doing so comes from a legal interpretation based on a similar position […]
DEA Reconsiders Marijuana Restrictions Following Release of Scientific Review
AAFCPAs would like to make cannabis clients aware of a 250-page scientific review published online recently by Matthew Zorn, an attorney in Texas, after he sued Health and Human Services officials for its release. In this document, federal scientists conclude that marijuana should not be classified as a Schedule I drug. Researchers conclude that marijuana […]
AAFCPAs Invited to Speak at NECANN-Boston Convention
AAFCPAs’ Vassilis Kontoglis, Janice O’Reilly, and Dave McManus have been invited to speak in two separate sessions at NECANN’s 2024 Boston Convention being held at the Hynes Convention Center in Boston, Massachusetts. 2024 Key Cannabis Topics: Rescheduling, SAFER Banking, and M&A Speakers: Dave McManus, Ronald Lipof, Melissa Maranda, J.D., and Michael Ross When: Friday, March […]
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
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 (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
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 […]