cash-intensive business Archives

State-Legal Marijuana Businesses and Taxes

Expert Notes

State-Legal Marijuana Businesses and Taxes

2020 was a big year for the marijuana industry. As the COVID-19 pandemic led to shutdowns across the country, many states labeled their marijuana dispensaries as “essential businesses,” allowing them to stay open during the stay-at-home orders. Despite their “esse... Kasia A. Parecki, JD

Mar/Apr 2021, Expert Notes, SAFE Banking Act, MORE Act, marijuana, cash-intensive business, audit, COVID-19, UNICAP, §280E, COGS, §263A, Colorado

Feature Article

Anti-Money Laundering: A Primer

The Problem Despite the prevalence of credit and debit cards, Cash App, and Venmo, cash still is, in many circles, king (or queen). As of November 11, 2020, there was US$2.01 trillion in circulation.Ellie Nava-Jones, EA

Mar/Apr 2021, Feature Article, Colorado, BSA, cash-intensive business, Form 112, Form 1099, Form W-3, AML, Schedule 1, anti-money laundering, Washington, immigrants, Financial Bank Account Reporting, TIN, marijuana, PATRIOT Act, FBAR, Form 8300, FinCEN, Bank Secrecy Act, Form W-2, CTR, SAR