Tax Check List

By |March 31st, 2017|

As December 31 fades in the rearview mirror and another year appears in the headlights, it’s time to think ahead to 2017 Tax Season. The Tax Man will be here sooner than you think.

While reviewing year-end financials, keep these things in mind:
Cash
Count your cash

When thinking of the cannabis industry, one thinks of cash. And lots of it, […]

Cannabis Grow Start-up FAQs

By |March 3rd, 2017|

Pinnacle Consultation has been swamped with questions about starting a medical or retail cannabis grow. To better aid those seeking to enter the legalized marijuana market here are a few FAQs.

Q: How is growing marijuana regulated?

A: Because marijuana remains illegal at the federal level, there is myriad of state and local laws to navigate. Each […]

Minnesota MMJ Workers Ratify Union Agreement

By |February 24th, 2017|

On Jan. 12 MMJ workers at Minnesota Medical Solutions in South St. Paul (Minn.) ratified a new, three-year union agreement. The workers are represented by United Food and Commercial Workers Union Local 1189. Minnesota Medical Solutions is a Vireo Company.

It includes:

annual wage increases for all employees
progression increases
additional pay for new lead positions
premiums when training […]

MED Onsite?

By |February 22nd, 2017|

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
Inadequate security for recording devices
Failing to disclose all […]

The Tax Man Cometh

By |February 12th, 2017|

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 […]

Drug Test Tips

By |February 3rd, 2017|

Marijuana might be legal for medical or recreational consumption in more tha half the United States, but requiring a drug test and terminating an employee because of results is still in the hands of the employer.
Tips for Workers

Know how marijuana works in the body.
Review company policy regarding marijuana use.
Company policies trump personal rights to use.
[…]

MJ Blowing Up: Cannabis Investors Want In

By |January 25th, 2017|

Be it CBD, THC or hemp, the cannabis (MJ) industry is blowing up! If you think not, look at some of the latest information out of Colorado.

Colorado reported more than $486 million in medical and retail cannabis sales through May 2016. During that time, taxes and license fees totaled more than $71.4 million. Sales are expected to exceed $1 billion […]

Drug Test Tips

By |December 16th, 2016|

Marijuana might be legal for medical or recreational consumption in more than half the United States, but requiring a drug test and terminating an employee because of results is still in the hands of the employer.
Drug Test Tips
Tips for Workers

Know how marijuana works in the body.
Review company policy regarding marijuana use.
Company policies trump personal rights to use.
Consider a […]

Private Placement Memorandum

By |November 30th, 2016|

Private Placement Memorandum. PPM. I’m not talking about a business plan here.

A Private Placement Memorandum is a legal document provided to prospective investors when selling stock or another security in a business. It is also call an offering memorandum or offering document. It is a vehicle to secure financing.

A Business Plan is a formal statement of business goals, reasons […]

Election 2016 Cannabis Ballot Issues

By |November 16th, 2016|

Upon the heels of Donald Trump’s election, four states approved retail adult use of cannabis and four approved medical marijuana use. That brings the total to 28 states with a legal cannabis industry.

California, Maine, Massachusetts and Nevada will join Colorado, Oregon, Washington, Alaska and the District of Columbia to offer cannabis for adult use. Arkansa, Floridas, Montana and North Dakota […]