Our premier CPA firm provides expertise in a wide range of areas within the cannabis industry. We can help you make sure your cannabis business is operating to it’s fullest potential.
Cannabis distributors, retailers, and delivery services – at the very least – are required to file income, sales, and payroll tax returns.
All retail sales of medical cannabis products and accessories are subject to sales tax. If your dispensary has employees, you will also be required to report wages and pay Income tax, Social security and Medicare taxes to the Employment Development Department (EDD) However, each state has slightly varied tax percentages and laws.
In addition, each state has varied laws on how long records must be kept. These records often, but are not limited to, sales and purchase records, bank statements, resale certificates, shipping documents, and tax returns.
An audit is an opportunity to assess the quality and reliability of the information you use to make important decisions. We provide valuable insight to help your cannabis business grow:
We can also help with optimize other administration areas: