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With more and more people recognizing the value of cannabis in their lives, they are looking for ways to get involved with the industry. New Mexico’s cannabis industry is growing at an impressive rate — one that will continue as long as reforms stay on track. The New Mexico cannabis…

California Governor Gavin Newsom Signs Legislation to Bring Major Changes to Cannabis Regulations. On June 30, Governor Gavin Newsom signed legislation implementing the 2022-23 state budget, including a trailer bill focused on cannabis policy. The legislation, which took effect immediately, brought sweeping changes to California’s marijuana regulations. It will significantly…

Although marijuana is federally prohibited, the Drug Enforcement Administration (DEA) has accepted that the plant’s seeds are typically unregulated and lawful, regardless of how much THC is generated in buds if the seeds get planted. In response to a request from attorney Shane Pennington about the legality of cannabis seeds,…

Certain violations include unapproved marketing drugs, misbranding food products, and adding Delta-8 THC (a synthetic form of tetrahydrocannabinol) to food items. Five firms were issued warning letters by the U.S. Food and Drug Administration for selling items described as having delta-8 tetrahydrocannabinol (delta-8 THC) in methods that violated the Federal…

Effective April 21, 2022 (why wasn’t it 4/20?), individuals over 21 years of age may purchase recreational cannabis. Currently, there are twelve dispensaries statewide. These dispensaries commenced originally under New Jersey’s Medicinal Cannabis Program. The regulating body in New Jersey is the Cannabis Regulatory Commission—CRC. The New Jersey Cannabis Regulatory…

The marijuana industry’s legality is still just a few years old in many states. Some cannabis accounting firms are still finding their feet and determining the best procedures for their customers. The cannabis sector is expanding, bringing a new set of accounting issues. As more and more businesses enter the…

It was great seeing and meeting many of our existing clients, and we also really enjoyed meeting many of you for the first time in Las Vegas at the MJBizCon. Our 280E session was packed wall-to-wall and we were happily overwhelmed with the audience’s responses and questions. This session included…

SandySandy Suchoff, CPA is the Founder and principal of Lefstein-Suchoff, CPA & Associates, LLC D/B/A The Canna CPAs. Suchoff has been featured and interviewed on MSNBC, FOX News, and Tune In Business Talk Radio as a tax advisor, as well as ONR Oklahoma PBS TV, Chasing News on FOX &…