Money, Taxes & Banking

Cannabis remains illegal under federal law and is classified as a Schedule I substance under the Controlled Substances Act (CSA). This federal status applies nationwide and affects cannabis businesses even in states like New York where adult-use retail is legal. State legalization protects you from state enforcement only. It does not override federal law.

This page explains why cash handling is a compliance system in cannabis retail. It covers vault storage, transport procedures, reconciliation, access controls, and how weak controls can trigger banking or insurance review.

This page explains how cashless ATM systems work and the compliance risks associated with them.

Cannabis businesses are audited for the same reasons as other companies, but 280E, high cash volume, and bookkeeping errors increase risk. This page explains what commonly triggers a cannabis IRS audit and how to reduce exposure.

This page explains what documents banks request during cannabis account reviews and how organized records reduce shutdown risk.

Explains what happens after proximity protection, why you still cannot open, what a provisional license allows, and the steps you must complete before OCM issues a final license.

When you file a cannabis insurance claim in New York, the process becomes a legal and financial investigation. Payment is not automatic. Insurers evaluate exclusions, security warranties, documentation, and policy conditions before issuing a check. This guide explains exactly what happens after you report a loss and how to protect your position.

This page explains how banks evaluate cannabis businesses, including ownership transparency, deposit activity, compliance records, and internal controls that affect account stability.

Cannabis dispensaries pay federal taxes differently because of IRS 280E. This guide explains how taxable income is calculated, why quarterly payments are required, how much tax dispensaries actually pay, and how to calculate a safe weekly tax reserve to avoid penalties and cash shortages.