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California: Which Set of Books?

Cannabis Law Report

Let’s begin with an old joke…how many sets of books does a business need to keep? The new reality is that a California cannabis business needs to maintain FOUR sets of books in order to comply with the requirements of the agencies that regulate California’s cannabis industry. We all know how that story ends.

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The Nevada Independent Provides A Great Review Of All Current Legislation

Cannabis Law Report

Marijuana used to be heroin in Nevada back in 2013. Taxation chief Melanie Young noted that once the agency took up the mantle of regulating marijuana in 2017, the task has dominated the workload and prevented it from moving forward on improving processes for collecting the $7 billion in other taxes they collect.

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Overview: Cannabis Taxes & Accounting Workshop

Meadow

Tim was the Assembly Daily File Clerk from 2013–2014, and the Reading Clerk for the California State Assembly from 2009–2013. And so the manufacturer needs to collect the 2.75 Well, for the manufacturer to the distributor, the distributor is going to collect the tax from the manufacturer. We collect packs, we remit it.