The Hive

LOs ANGELES --At cannabis accountants, 420CPA, they like to highlight cutting-edge advisors we work with closely. Here’s a recent article from Bloomberg.com by Michelle Mabugat and Zackary Nolan of the L.A. law firm Greenberg Glusker. The piece examines the sale of Qualified Small Business Stock and how, if handled correctly, sellers can exclude $10 million of profit ...

Mergers and acquisition activity in the cannabis space tripled from 2020 to 2021, and that pace is on track to continue in 2022. With big players entering the global cannabis market, we’re fielding more questions about mergers and acquisitions of cannabis businesses. In this guide, we look at the evolution of the U.S. cannabis industry and some ...

Introduction: The Challenge The market began to mature, after the first few years of operations, and they were unprepared for what was to come. Market prices for retail cannabis dropped due to competition as many new retail dispensaries opened in their area. Their local jurisdiction issued more licenses than was originally planned in the regulations ...

Keeping your accounting records up to date all year long is essential for any business so you can see exactly where your business stands and be able to make thoughtful decisions based on clean numbers. At year-end, there are a few extra accounting tasks to finish so that your books are ready for the tax ...

Cannabis industry participants face a tough battle under a litany of regulations that may not change much in the near future. Transfer pricing rules must be considered and acted on properly to avoid even more tax problems for these businesses, say AB FinWright’s Simon Menkes, Abraham Finberg, and Rachel Wright in this edition of “A ...

LOS ANGELES-Many years ago, a family sought my assistance concerning a sibling diagnosed with prostate cancer. This brother staunchly rejected conventional treatments like chemotherapy, radiation, surgery, and injections. He believed, with unwavering determination, that a daily dose of one gram of Rick Simpson Oil (RSO) could eradicate his cancer within a mere 90 days. By ...

CAMBRIDGE- Harvard University, a name synonymous with academic excellence, is venturing into a new interdisciplinary field of study. The institution has announced the establishment of the Study of Psychedelics in Society and Culture, funded by a significant $16 million donation from the Gracias Family Foundation. Harvard's approach is comprehensive. This endeavor will span the Faculty ...

The prestigious Benzinga Cannabis Awards, now in their second year, were recently unveiled during the Benzinga Cannabis Capital Conference held in Chicago on September 27-28. These awards serve as a beacon, illuminating the luminaries of the cannabis industry—individuals and entities whose contributions span a wide spectrum, encompassing trailblazing innovation and tireless advocacy across sectors such ...

FARRIS FORWARD: Welcome to Farris Forward, a new series of articles curated by Jon Farris and distributed by Highly Capitalized. The series highlights the insights and strategies being deployed by industry insiders and experts, offering a glimpse into the dynamic world of the cannabis sector. As the industry evolves, operators are encouraged to follow Farris ...

LOS ANGELES–Welcome back to the sizzling world of cannabis intrigue and whispers. Get ready to ignite those rolling papers as we dive into a fresh batch of scintillating tales. Move over, CEO love triangle – we've got drama that'll keep you hooked! In a twist on the classic narrative, a high-flying CEO caught in a ...

SACRAMENTO– The Women’s Canna Awards, produced by Debutante Honors, Inc, a 501(c)(6) professional association, the biggest and most sought-after award show dedicated to highlighting women in the cannabis industry, will be returning for its second year. This year’s Oscars-style, gala awards show will be held in person on Saturday, November 11th, 2023 at the Sofia ...

LOS ANGELES-- In recent years, the U.S. cannabis industry has experienced unprecedented growth, with a majority of states embracing its medical applications and an increasing number legalizing adult use. This surge in acceptance has been fueled, in part, by extensive research and development (R&D) efforts aimed at improving the quality of cannabis plants and exploring ...

LOS ANGELES-- The year 2022 brought forth a significant shift in the financial landscape for the cannabis industry, as businesses grappled with a pressing tax conundrum. With the looming income tax filing season, cannabis taxpayers found themselves treading uncharted territory following a notable tax court ruling. In March 2022, Judge Francis O'Reilly delivered a landmark ...

NEW YORK -- In the ever-expanding landscape of New York's cannabis industry, entrepreneurs face a multitude of challenges on their path to success. From navigating the complexities of licensing to competing against illicit market players, the journey is undoubtedly arduous. However, savvy business owners have discovered a glimmer of hope amidst the obstacles: the potential ...

LOS ANGELES-- The rapid evolution of the cannabis industry, as it transitions from the shadows of illicit trade to the forefront of mainstream commerce, has brought about a host of challenges for businesses. In response, companies are increasingly turning to outsourcing arrangements as a strategy to overcome these hurdles. However, industry experts and legal professionals ...

NEW YORK-- New York State is embarking on a groundbreaking social experiment as it grants adult-use cannabis licenses, aiming to rectify the injustices inflicted by the long-standing war on cannabis. The detrimental effects of this war have included widespread incarceration, generational trauma, limited employment and housing opportunities, and the flourishing of an illicit market, with ...

LOS ANGELES-- As the cannabis industry continues to grapple with a complex web of regulations and tax rules, entrepreneurs like Abraham Finberg, Rachel Wright, and Simon Menkes of 420CPA display adept skills in maneuvering through the challenges. While Section 280E of the Internal Revenue Code poses a formidable obstacle by limiting deductions and credits for ...

LOS ANGELES-- As California's cannabis market grapples with a mounting debt crisis, the fate of the industry hangs in the balance, centering around a controversial piece of legislation known as Assembly Bill 766, also referred to as "The Cannabis Credit Protection Act." This bill seeks to address the industry's financial challenges by implementing stricter credit ...

LOS ANGELES-- Amidst the picturesque landscapes of California's cannabis fields, a new wave of excitement is brewing in the Golden State. The Department of Cannabis Control (DCC) has unveiled a bold initiative that could potentially reshape the future for the state's struggling cultivators. In an intriguing move, Matthew Lee, General Counsel for the DCC, reached ...

LOS ANGELES-- The landscape of federal cannabis reform is undergoing a notable transformation, propelled by the growing number of states embracing adult-use cannabis. As this trend gains momentum, policymakers are increasingly compelled to consider significant modifications at the federal level. Key discussions revolve around two crucial acts: the SAFE Banking Act and the PREPARE Act, ...

LOS ANGELES-- California's relentless battle against illicit cannabis has reached a critical juncture, as state authorities strive to curb the flourishing underground market and protect the interests of legal cannabis operators and consumers. With the California Department of Cannabis Control (DCC) leading the charge, the government's determined efforts to dismantle illegal operations have yielded noteworthy ...

LOS ANGELES--First of all, if you don't understand PR, you're not alone. One of the top influencers in PR Parry Headrick often recycles this post and it gets hundreds of comments each time. So, instead of speaking to other PR people in this article, I am going to take the approach of explaining what is going ...