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 […]

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 […]

The Tax Man

By |July 28th, 2016|

The Tax Man cometh, and cometh and cometh. At least that’s how it feels in cannabis Colorado. The Internal Revenue Service is auditing some 30 cannabusiness pioneers for tax years 2014 and 2015 because of the cash nature of the industry.

Uncle Sam has a way of keeping track of drug (expect pharmaceuticals) money with IRS […]

Tuesday News Wrap

By |July 19th, 2016|

Coalinga City Council to Sell Claremont Custody Center to Ocean Grown Extracts

Recently the Coalinga City Council (California) approved the sale of the Claremont Custody Center to Ocean Grown Extracts. The sale price? $4.1 million. Coalinga expects also to collect “around $2 million per year in rent and fees” from the mmj extraction facility

Ocean Grown Extracts […]

Arizona Dispensary FAQs

By |July 16th, 2016|

The Arizona Department of Health Services will accept dispensary registration certificate applications from July 18 – July 29, 2016.  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 marijuana that […]

Pinnacle Consultation: Oregon FAQs

By |July 6th, 2016|

Pinnacle Consultation has seen an upswing in clients seeking to do business in Oregon. So many in fact, its experts have put together a list of frequently asked questions. For more information contact Pinnacle Consultation’s main office at 719.330.5301.
Oregon Licensing – General
Q: Will we receive notice before an inspector visits the premises?

A:  After licensure the inspector may visit the […]

Pinnacle Consultation: Oregon FAQs Part 6

By |June 29th, 2016|

Pinnacle Consultation has seen an upswing in clients seeking to do business in Oregon. So many in fact, its experts have put together a list of frequently asked questions. For more information contact Pinnacle Consultation’s main office at 719.330.5301.
Oregon Licensing – General
Q: What level of debt can an applicant have while applying?

A:  The Oregon Liquor Control Commission does not […]