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Savant CFO

Special tax issues for cannabis businesses

It’s tax time for everyone, but for entrepreneurs in the rapidly growing cannabis business, it’s a particular challenge. That’s because they are confronted with the issue of filing taxes for a federally illegal market, even though it’s perfectly legal in the state in which they do business. Section 280E of the Internal Revenue Code prohibits…
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Big Marijuana: Arizona company set to become Pennsylvania’s largest cannabis chain after new deal

An Arizona-based cannabis company on Tuesday announced it was acquiring two major medical marijuana licensees in Pennsylvania and New Jersey. Harvest Health & Recreation, which has an extensive footprint on the West Coast, announced early Tuesday that it was rolling up CannaPharmacy in a stock and cash deal. CannaPharmacy operates in Pennsylvania as Franklin Labs…
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Senate bill would give rural areas more medical marijuana dispensaries

State lawmakers are taking steps to ensure that rural residents have easy access to medical marijuana without having to grow their own. SB 1286 would require the Department of Health Services to give top priority to applications to locate dispensaries in areas of the state where there had been one before but now it’s gone.…
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