Senate Appropriations Committee Approves Bill to Protect Medical Marijuana

By |July 29th, 2017|

Details of bill
Thursday of this week the Senate Appropriations Committee approved a bill to go forward to the senate to extend protections for states with medical marijuana. This bill is in direct contradiction to Jeff Sessions’ as well as the DOJ’s position on marijuana. This bill is still far from law at this point. The […]

Opportunity for Mexican Cannabusiness after June Announcement

By |July 25th, 2017|

Medical Marijuana in Mexico
Last month Mexican President Peña Nieto legalized medical marijuana for the country. This opens up new opportunities for Mexican cannabusiness. There are a few catches however. The first catch is that THC will be limited to 1% or lower as the bill stands. High CBD strains will be the focus of cultivation […]

Colorado Marijuana Sales Stay Consistent from Q4 to Q1

By |July 21st, 2017|

Marijuana sales Q4 FY2016 to Q1 FY2017
Colorado has recently reported $500,000,000 in tax revenue collected since 2014. That equates to $17,241,379,310 in marijuana sales. This has investors and potential owners drooling. We have calculated the quarterly sales between quarter four of fiscal year 2016 as well as quarter one of fiscal year 2017 from the […]

Greece Legalizes Medical Marijuana Opening the Door for Cannabusiness

By |July 13th, 2017|

Last week Greece legalized marijuana for medicinal use. The current Prime Minister Alexia Tsipras has opened the door for medical cannabis businesses to start planning. Just like any business owner it is important that Greek purveyors have the proper business plan and start-up capital. Potential business owners must first decide the scope of their business […]

Update on I-300 The Social Use Initiative

By |July 2nd, 2017|

There is an update on Initiative 300, the social use initiative in Denver, CO. The release of a zoning map has brought up some concerns with Colorado pot activists. Another concern is the $2000 application fee that may or may not get you started on the licensing process. If you read the previous blog on […]

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, […]

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.
[…]