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Cannabis Banking: An Introduction Even though many states have legalized medical marijuana, the federal classification of cannabis as a class 1 substance remains a big hurdle to overcome. Due to the criminal classification of marijuana on a national level, new cannabis businesses throughout the country are struggling to find access to the banks and financial …

Cannabis Banking Guide: Choosing the Right Bank for Your Business Read More »

As discussed in our Cannabis Banking Guide, the criminal classification of marijuana on a national level often prevents cannabis business owners from working with most major financial institutions. Under current law, banks that provide services to cannabis businesses can be subject to criminal prosecution. Even national credit card companies like Mastercard and American Express can …

What Is The SAFE Banking Act? Read More »

As a cannabis business owner, maintaining your financial records should be at the top of your priority list. There is little to no room for error when it comes to adhering to your state’s compliance regulations, particularly when it comes to finances.  Complicated banking regulations and tax codes make it much more difficult for cannabis …

4 Tips for Maintaining a Compliant Accounting System Read More »

As recreational legalization across the country increases, more and more states are opening themselves up to the acceptance of cannabis businesses and dispensaries, and gearing up to participate in a rapidly growing industry and serve an eager customer base.  Recognizing the negative impacts that former marijuana prohibition tactics had on its communities, New York has …

Cannabis Legislation Guide: New York Read More »

While it’s been nearly a year since New Jersey voters passed a referendum to legalize cannabis in their state, it was not until last month that regulators came together to establish the initial rules for an emerging marijuana retail industry.  After spending time taking considerations from the public, the state aims to develop a cannabis …

Cannabis Legislation Guide: New Jersey Read More »

Cannabis Legislation Guide: Virginia On April 21, 2021, Virginia broke ground by becoming the first southern state to begin the process of legalizing adult-use cannabis. While this is a huge milestone for cannabis lovers, especially for those in communities that have been wrongfully affected by prohibition and policing, legal sales of the plant will not …

Cannabis Legislation Guide: Virginia Read More »