In effect, the memo protected legal cannabis states from the federal cannabis ban. This is one reason certain banks won’t touch cannabis money - because cannabis is still illegal at the federal level...
Since the accounting, tax, and regulatory requirements can be challenging to stay on top of, the need to hire a CFO is actually required much sooner for a cannabis business...
Cannabis businesses face cash flow issues for a few reasons. The first big reason is taxes. Being subject to the tax laws under Internal Revenue Code 280E means there are...