Cannabis companies require complex, accurate accounting in order to remain compliant and audit ready. In this course, you will learn foundational knowledge about the banking basics you should know before you plan to start up a cannabis business. Next, you will understand how to access banks and pay taxes as a cannabis operator, as well as, how business functioning within state legality can face severe banking restrictions due to federal regulations. After completing this course, you will be able to:
• Discuss types of cash management solutions for the cannabis market
• Examine the existing framework for choosing the best business entity for your cannabis operation
• Explore specific standards regarding the profitability and manageable risk of operating a cannabis business
• Identify income tax schemes that affect the cannabis industry at the local, state, and federal level