Cannabis is Going Mainstream — Is Your Accounting Firm Ready?
In December of 2020, the Marijuana Opportunity, Reinvestment, and Expungement Act (MORE Act) passed the House of Representatives — this could lead to massive change for the cannabis industry in upcoming years.
- Marijuana Cultivators, Farming, and Processing
- Marijuana, Cannabis, and CBD Retailers and Distributors
- Marijuana, Cannabis, and CBD Product Manufacturers and Labs
- Enforcing regulations
- Collecting taxes
- Verifying the quality of the product, and
- Preventing illegal practices from occurring.
- Accounting and GAAP regulations
- Tax policy and code
- Cash management and traceability
- Banking scarcity