How Big is the U.S. Hemp Market?

As exciting as the legal marijuana movement is with 30 States now having medical or adult use of cannabis, the hemp market is also gaining momentum.  What is hemp, what are its potential uses, and how big is the U.S. hemp market? Hemp is basically the same plant from which THC-based psychoactive marijuana is derived. …

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Forbes: Marijuana Industry Faces Challenging Tax Regime

By: Peter J Reilly Originally posted in Forbes Jul 19, 2018, 05:39pm 2,068 views #TaxTime https://www.forbes.com/sites/peterjreilly/#1f9d3b46271f The Tenth Circuit had bad news for most of the state legal pot industry in its recent decision-Alpenglow Botanicals LLC.  Some of the service providers to the industry might not be that disappointed, though.  That is probably a reflection of Reilly’s Third Law…

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Getting Ready for More Gardening in the Garden State

Getting Ready for More Gardening in the Garden State: How to Prepare Your Business for Six More New Jersey Dispensaries It’s an exciting time in the Garden State! It was recently announced that New Jersey will double the number of medical cannabis dispensaries in the state by allowing six more licenses. With this excitement comes…

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Springtime Hopes Die Under The Summer Sun

Springtime Hopes Die Under The Summer Sun 280E, Cannabis Banking Reform Will Not Be Voted On By This Congress By Jim Marty, CPA and Chief Executive Officer of Bridge West LLC Another 100 degree day in Denver and I hop in my car to attend a roundtable of prominent CPAs, attorneys, and politicians hosted by…

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Reflections on Cultivate ’18

Reflections on Cultivate ’18: Interview with Calvin Shannon What did you enjoy most about the Ohio Conference? I enjoyed many things, actually. First, I had never actually been to Columbus before and I enjoyed my stay, however brief. I also felt that the audience was engaged in all the presentations, and that all the other…

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New Jersey’s Medical Marijuana Program is on the Move!

New Jersey’s Medical Marijuana Program is on the Move! On July 16, 2018, the New Jersey Department of Health (“DOH”) announced that it would accept applications for up to six medical marijuana dispensary licenses, with two in each of New Jersey’s northern, central and southern regions. The DOH issued this Request for Applications (“RFA”). New Jersey’s Medical…

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A Tipping Point for Cannabis in the United States?

By Jim Marty, CPA/ABV MS Early last Wednesday morning, my phone lit up with calls from Oklahoma attorneys, accountants, and other interested parties who wanted to speak me about the results of Tuesday’s Oklahoma primary elections.  A very liberal medical marijuana bill had passed in the state primary election.  Not only was this the first…

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Organizational Structure and Entity Selection

By Cory Parnell, CPA, Chief Operating Officer of Bridge West, LLC Over the past 12 months, Bridge West has been leading numerous conversations with their cannabis clients regarding organizational structure and entity selection.  These conversations have benefited both start-up organizations, as well as, established cannabis operators. During this time, Bridge West has observed that most…

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Determining Inventory Costs

By Cory Parnell, CPA, Chief Operating Officer of Bridge West, LLC Since Bridge West started working with cannabis companies in 2009, one of the most difficult accounting issues has been determining inventory costs.  Determining the cost of the inventory is a very complex and difficult issue for most operators because there are no legacy cannabis…

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