Cannabis

Industries
CJBS
Data security is important from the very beginnings of your cannabis business.  That’s because: – Cyberattacks are rampant in the industry  – Operators must stack multiple third-party integrations, making them vulnerable – They have to be compliant with regulations to protect customer information (such as HIPAA) and  – Cannabis businesses are criticized more often for […]
March 13, 2024
1 MIN READ
Blog
CJBS
In the early days of Illinois medical cannabis legalization, licensed cannabis retailer Windy City Cannabis needed assistance in setting up their business for success during the growth of the medical market, and eventually, the launch of the state’s adult-use market.  Windy City’s former parent company–while growing rapidly–didn’t have a dedicated in-house finance department, so they […]
January 24, 2024
2 MIN READ
Blog
CJBS
Taking credits can raise flags with the IRS–and audits can be time-consuming and costly. Here’s what to consider before opting to save a little extra at tax time.  Should you take a tax credit if it means your cannabis business will have a greater chance of being audited?  “It depends,” says CJBS Partner Ryan Guedel, […]
November 28, 2023
3 MIN READ
Blog
CJBS
A comprehensive round-up of tax pointers for plant-touching businesses in the cannabis industry from CJBS Senior Partner Matt Bergman, CPA.  Cannabis’s federal illegality and stringent regulations for state-legal businesses make taxation in the cannabis industry difficult to navigate–and that’s an understatement.  CJBS Senior Partner Matt Bergman, CPA, knows these complexities well, having operated in the […]
September 11, 2023
8 MIN READ
Blog
CJBS
Internal controls are procedural safeguards put in place to protect access to financial information and transactions.  Setting up internal controls is critical for any business to prevent fraud, but it is even more important for cannabis operators–as the industry is especially susceptible to fraud.  We discuss internal controls in detail in this webinar with Partner […]
August 14, 2023
3 MIN READ
Blog
CJBS
On May 30, Minnesota joined 22 other U.S. states in legalizing adult-use cannabis.  Building off of a strict medical cannabis program with only two operators and 15 dispensaries, hopeful cannabis business owners will have the opportunity to enter an uncapped license market to provide adult-use cannabis to adults aged 21 and older.  By 2027, annual […]
June 14, 2023
4 MIN READ