State Bars Bar Attorneys

By |August 26th, 2016|

In a Catch-22 for the legal industry, state bar associations are issuing “ethics” opinions to discourage attorneys from protecting the rights of cannabusinesses. Those opinions warn attorneys helping medical marijuana businesses may be violating federal law and professional rules of conduct. Shades of Tom Hagen from The Godfather.  The non-binding opinions could make it tougher for cannabusinesses […]

Quinnipiac Poll: US Support for Cannabis Legalization

By |August 24th, 2016|

Quinnipiac University, in Hamden, Conn., released poll results tracking support for legalizing cannabis (marijuana) in the United States. The university surveyed 1,561 registered voters in May 2016. Fifty-four percent support recreational  marijuana. The poll also shows overwhelming support for veterans seeking medical marijuana advice and information from Veterans Administration doctors for treatment of PTSD. Eighty-seven percent say VA doctors […]

Oregon Marijuana Tax Haul

By |August 22nd, 2016|

Recreational cannabis in Oregon is taxed at 25 percent. Through May 30, the Oregon Department of Revenue reported $14.9 million in recreational tax payments. State economists now expect tax revenue from recreational marijuana for 2016 to be about $43 million.

Mazen Malik, senior economist with the Office of Legislative Revenue, said he estimates the cost of regulating marijuana to be about […]

Compliance Violations

By |August 17th, 2016|

Compliance violations can devastate a cannabusiness. Penalties range from revocation of licenses to fines. Before the MED pops in on your dispensary, grow, or processing facility, have Pinnacle Consultation perform a compliance audit.

Common violations include:

Failing underage compliance checks
Record-keeping/METRC compliance issues
Inadequate camera coverage or inadequate security for recording devices
Failing to disclose all owners or financial […]

Prevention: Key to Success

By |August 11th, 2016|

“Take the bite out of crime,” McGruff, the crime fighting dog, says.

In the cannabis industry it’s more “An ounce of prevention is worth a pound of cure.” Marijuana pound that is.

Dispensaaries are a target for burglers. Criminals know the marijuana industry is all cash, and lots of it. With cash dealings and processed product, theives think […]

Arizona: $3.7M in Dispensary Fees

By |August 8th, 2016|

The Arizona Department of Health Services reported $3.7 million in application fees for mmj dispensary licenses to operate medical marijuana. The application fee was $5,000 per application.

The number of licenses to be issued? Thirty-one. The number of applications? Seven hundred forty-seven from  July 18-29. Applicants who fail to obtain one of the licenses will receive a refund […]

Arizona MMJ Dispensary Applications

By |August 5th, 2016|

The Arizona Department of Health Services reported 747 applications submitted during the official submission period, July 18-29. Thirty-one licenses will be issued.

Here are some FAQs from PInnacle Consultation’s experts.

Q: What is still prohibited under the Arizona Medical Marijuana Act?

A: The Arizona Medical Marijuana Act does not:

Authorize a person to undertake any task under the influence of […]

Section 280E

By |August 3rd, 2016|

Section 280E of the Internal Revenue Code forbids businesses from deducting otherwise ordinary business expenses from gross income associated with the “trafficking” of Schedule I or II substances, as defined by the Controlled Substances Act. The IRS has applied Section 280E to state-legal cannabis businesses, since cannabis is a Schedule I substance.

Whether charges will be filed […]

San Jose Hits MediMarts with Tax and Fees

By |August 1st, 2016|

The State of California’s Sixth Appellate District Court ruled MediMarts dispensary in San Jose must pay the city $767,058 in taxes and late fees. According to the court filing MediMarts has not paid the Marijuana Business Tax to the City of San Jose since May of 2012.

David Armstrong, president and founding member of MediMarts,  said his group is a collective […]