Cannabis
Watch Live: 2022 Year-End Tax Planning Webinars
SAVE THE DATE! AAFCPAs is excited to announce its annual year-end tax planning webinar series, which will provide insight into strategies for 2022-year end that clients may take advantage of now to realize a more favorable tax outcome. Business Tax Wednesday, November 9th 12 – 1 pm Cannabis Business Tax Thursday, November 10th 12:30 – […]
What data should Cannabis Operators use to drive decisions?
Data and finance are increasingly linked, and cannabis dispensaries that are growing fast – or facing headwinds – should be on the lookout for information that helps them adapt. Gathering the right analytics has become top of mind for financial executives in recent years, especially as the pandemic introduced new levels of unpredictability. That rudderless […]
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 […]
Easing the burden of cannabis state tax compliance
Keeping pace with state sales and excise tax requirements can be a significant burden for cannabis operators. The indirect nature of the tax – that it is collected at point of sale as part of a transaction and then must be remitted to the state(s) on their specific timeline – makes it an area of […]
AAFCPAs Speaking at Illinois Cannabis Convention
AAFCPAs’ Cannabis Practice has been selected to present an educational workshop: Modeling Considerations When Entering a New Market at the Illinois Cannabis Convention, June 10th-11th, 2022, at the McCormick Place Lakeside Center, Chicago, IL. MODELING CONSIDERATIONS WHEN ENTERING A NEW MARKET Entering a new Cannabis market requires planning and adapting to regional nuances unlike almost […]
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 […]
Entity structure considerations for MSOs
Multi-state operators may need to weave a complex web when it comes to corporate structure. Operators entering new jurisdictions must consider many factors, the most significant being tax exposure, licensing restrictions, and potential exit scenarios as they determine which entity structures will best support their expansion and goals. The goal of structuring is to create […]
AAFCPAs’ Cannabis Practice Leaders Join NECANN-Boston Programming Schedule
AAFCPAs has been selected to present an educational workshop: Modeling Considerations When Entering a New Market at the New England Cannabis Convention, March 18-20th, 2022, at the Hynes Convention Center, Boston MA. The New England Cannabis Convention in Boston is considered the can’t-miss event of the year by cannabis operators across the region. This will […]