Medical Marijuana bookkeeping
Starting a Cannabis Business? Here are some things you need to know.
With the passing of Senate Bill 94 (SB94), as of January 1, 2018, it will be legal to cultivate, transport, manufacture and sell Marijuana in the state of California for recreational purposes. This newly emerging market will be lucrative on a scale Californians have not seen since the great Gold Rush of the 1850's! Entrepreneurs have been positioning themselves to stay current with the latest dispensary state laws and regulations but it is VERY easy to get lost in the government jargon posted on California's state website and how it contradicts that of the Federal government's jurisdiction.
Marijuana Dispensary Business Management
Two things to know about the medical marijuana dispensary industry: You have to be nimble and you must be open to risk. Being nimble comes in handy because the playing field is still being defined and changes frequently. Until the Federal government gets on board with the few states who have voted to legalize medical marijuana/adult-use cannabis, the risks of federal forfeiture are real and there is currently no way around that fact. HOWEVER, the stronger a marijuana business owner is in compliance with state regulations, the less they will be exposed to possible harms to their cannabis dispensary business. That is where expert Medical Marijuana Business Management comes in and White Business Management can help.
At WBBM, we are utilize our accounting know-how to put your dispensary business in compliance with California's state and local regulations when it comes to the latest rules on California Marijuana Taxation, specific tax deductions, and acquiring a Medical or Recreational (a.k.a. Adult Use) business license.
Samantha E. White has worked with marijuana dispensaries and collectives in the Los Angeles area and was one of very few bookkeeper/business managers in attendance at the National Business Institute's symposium on Recreational Marijuana Business Law in California in July of 2017.
We are proud to offer our accounting services to marijuana businesses in whatever capacity your dispensary needs them. We admire the entrepreneurial spirit in the emerging cannabis industries - remember it takes a wide network for success!