Compliance Cultivates Growth


Financial Education

Accounting Services – GAAP Cost Accounting

Compliance Services

Explanation of Federal & State Laws

Articles on Cannabis Industry


Welcome to Canna1Resource!


Introduction



Maximize your cost of goods sold (COGS)


Minimize your taxes


Increase your cash flow


Contact us today for a free consult!


Contact Us

Canna1Resource provides outsourced Management Accounting, Controller Services and Bookkeeping

Accounting

Explore the different areas of accounting most relevant to the Cannabis Industry and learn how our Accounting Services can help monitor business performance, profitability and growth.

Cannabis Accounting and Services

Placeholder
Placeholder

State & Federal Laws

Discover straight forward information on the laws that govern the Cannabis Industry.

Federal States

Articles

Our goal is to provide in-depth articles from industry leaders and authorities to help you keep track of what’s going on.
Cannabis Articles

Placeholder

Accounting

Explore the different areas of accounting most relevant to the Cannabis Industry and learn how our Accounting Services can help monitor business performance, profitability and growth.
Tell me more…


Placeholder

State & Federal Laws

Discover straight forward information on the laws that govern the Cannabis Industry.
Tell me more…


Placeholder

Articles

Our goal is to provide in-depth articles from industry leaders and authorities to help you keep track of what’s going on.
Tell me more…


Placeholder
0
Cultivators

0
Production

0
Retailers

0
Dispensaries

Check out the most recent 280E White Paper from NCIA here.


Federal Laws


There is a current bill in motion called the Fairness in Federal Drug Testing Under State Laws Act. It addresses the growing chasm between federal and state laws that has resulted in marijuana being legal in many areas, even as it is still federally prohibited. Congress has yet to truly address that divide, even as lawmakers from both parties voice support for their voters’ decisions to legalize cannabis in their districts.


State Laws


In 1996, California voters passed Proposition 215, making the Golden State the first in the Union to allow for the medical use of marijuana. A total of 31 states, the District of Columbia, Guam and Puerto Rico now allow for comprehensive public medical marijuana and cannabis programs.


Tax Laws


States that have legalized cannabis are often subjected to additional varieties of taxation. Although cannabis taxes and tax rates vary from state to state, each state taxes the sale of it in some way. While all states impose a sales tax on marijuana, some states also impose an excise tax on the sale.


Recent Articles

Placeholder

California Cannabis Business Convention – Earlier this week, I had the privilege of attending the California Cannabis Business Convention. It was such an empowering and educational experience for me! The event was full of people who are passionate about cannabis and making sure the industry succeeds. Sometimes being surrounded by so many people can make one feel overwhelmed, but this event was very different for me. All the people there were hoping to find answers to the many questions they have about the cannabis world.
Read More…

Placeholder

Finding Investors: Cannabis Startup Compliance – As the legal cannabis industry expands through the United States, many investors are looking to invest in the industry. This is good news for small businesses looking to enter the cannabis industry or expand their current business. What cannabis CEOs may not know is that raising equity may considered a securities offering and subject to Securities Exchange Commission (SEC) rules. What do cannabis CEOs need to know about fundraising?
Read More…

Placeholder

Facebook Takes First Step in Recognizing Cannabis Companies – Although prohibited under Federal Law, marijuana has become legalized in some form in 31 states and the District of Columbia. Just ahead of Canada declaring their legalization of marijuana, Facebook announced their first steps in acknowledging the shifting status and normalization of cannabis.
Read More…

Placeholder

CEO Predicts Cannabis Industry Can Bank Legally By Christmas – One of the biggest issues currently facing the cannabis industry is the lack of legal access to banking. Cannabis companies such as dispensaries are currently being creative with cash-only businesses or using cryptocurrency and blockchain technology, to skirt around current federal regulations which bar them from banking.
Read More…

Placeholder

Know your Regulations, Know your Labels – Ability to move quickly, accurately, and competitively is the lifeblood of cannabis purveyors. Timely compliance in such areas as labels and packaging is critical to staying in business; agility in grabbing a competitive edge is crucial to profitability.
Read More…

Placeholder

Why Cannabis Makes you Happy – It was long believed that the “high” associated with cannabis was caused by a flood of dopamine released by the consumption of THC. This theory has been largely discredited, though it’s still believed that cannabinoid receptors in the body are closely linked to the body’s reward system.
Read More…

Placeholder

Cannabis Cultivation – Not long ago, cannabis growers learned their trade mainly by trial and error, passing along tips to others behind a veil of secrecy. But with expanding legalization of cannabis in the U.S., this situation is changing.
Read More…

Placeholder

Section 280E and the Impact of Tax Reform – Cannabis companies are subject to Section 280E and would benefit from an accounting or inventory method that results in the largest allowable amount allocated to costs of goods sold.
Read More…

Placeholder

California Cannabis Business Convention – Earlier this week, I had the privilege of attending the California Cannabis Business Convention. It was such an empowering and educational experience for me! The event was full of people who are passionate about cannabis and making sure the industry succeeds. Sometimes being surrounded by so many people can make one feel overwhelmed, but this event was very different for me. All the people there were hoping to find answers to the many questions they have about the cannabis world, and I felt very at home with this crowd.
Read More…


Placeholder

Finding Investors: Cannabis Startup Compliance – As the legal cannabis industry expands through the United States, many investors are looking to invest in the industry. This is good news for small businesses looking to enter the cannabis industry or expand their current business. What cannabis CEOs may not know is that raising equity may considered a securities offering and subject to Securities Exchange Commission (SEC) rules. What do cannabis CEOs need to know about fundraising?
Read More…


Placeholder

Facebook Takes First Step in Recognizing Cannabis Companies – Although prohibited under Federal Law, marijuana has become legalized in some form in 31 states and the District of Columbia. Just ahead of Canada declaring their legalization of marijuana, Facebook announced their first steps in acknowledging the shifting status and normalization of cannabis.
Read More…


Placeholder

CEO Predicts Cannabis Industry Can Bank Legally By Christmas – One of the biggest issues currently facing the cannabis industry is the lack of legal access to banking. Cannabis companies are currently being creative with cash-only businesses or using cryptocurrency and blockchain technology, to skirt around current federal regulations which bar them from banking.
Read More…


Placeholder

Know your Regulations, Know your Labels – Cannabis-savvy label experts must be able to provide near real-time information and clear, straightforward guidance to ensure full and timely compliance.
Read More…


Placeholder

Why Cannabis Makes you Happy – It was long believed that the “high” associated with cannabis was caused by a flood of dopamine released by the consumption of THC. This theory has been largely discredited, though it’s still believed that cannabinoid receptors in the body are closely linked to the body’s reward system.
Read More…


Placeholder

Cannabis Cultivation – Not long ago, cannabis growers learned their trade mainly by trial and error, passing along tips to others behind a veil of secrecy. But with expanding legalization of cannabis, this situation is changing.
Read More…


Placeholder

Section 280E and the Impact of Tax Reform – Cannabis companies are subject to Section 280E and would benefit from accounting or inventory methods that results in the largest allowable amount allocated to costs of goods sold.
Read More…


Contact Us Today

Maximize your cost of goods sold, minimize your taxes, improve and increase your cash flow. Contact us today for a free consult!