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What Expenses Can Be Considered as COGS?

What Expenses Can Be Considered as COGS?

The IRS has made specific provisions for marijuana resellers versus producers. For Resellers  CCA 201504011 clarified that, for resellers, the costs that they incur that are otherwise nondeductible under § 280E may not be deducted as COGS. These costs that are non-deductible are those that are directly related to the trafficking of marijuana. For resellers,…

NEW STANDARD ON REVENUE RECOGNITION

NEW STANDARD ON REVENUE RECOGNITION

To learn more, visit FASB.org  

OLCC rules adjusted for pesticide testing of usable marijuana

OLCC rules adjusted for pesticide testing of usable marijuana

With Expanded Testing Capacity in Place, Sampling & Testing Procedure Reverts to 100 Percent Batch Testing Beginning August 30, 2017, every batch of usable marijuana (flower and leaves) must be tested directly for pesticides according to the Oregon Health Authority’s testing rules in order to be compliant. This includes untested product that was collected for sampling prior…

oregon cannabis home growers survey

oregon cannabis home growers survey

we want to share a website with any Oregon natives that grows cannabis at home     the survey is confidential and super useful for the peeps at EVERGREEN ECONOMIC   as w-4twenty is all about sustainability, we invite you to participate HERE

Booker, Booker, he’s our man! if he can’t do it….

Booker, Booker, he’s our man! if he can’t do it….

Yesterday, Senator Corey Booker (D-NJ) has introduced one of the most comprehensive pieces of marijuana reform legislation ever to be put up for debate, the Marijuana Justice Act of 2017.   The bill would:   (1) remove marijuana from the US Controlled Substances Act, thereby ending the federal criminalization of cannabis;   (2) incentivize states…

H.R. 3530 – the industrial hemp farming act of 2017

H.R. 3530 – the industrial hemp farming act of 2017

Republican Rep. James Comer from the House Judiciary Committee of Energy and Commerce, solely sponsored and has introduced House Revision 3530 last Friday, July 28, 2017.  The revision, if passed, would amend the Controlled Substances Act to exclude industrial hemp from the definition of marijuana, and for other purposes.   With a big win for…

great news from the senate.

great news from the senate.

Dear Viyada, Great news from Washington, D.C.! This morning, the Senate Appropriations Committee voted to continue protecting state-sanctioned medical marijuana businesses and patients from Department of Justice interference. The provision, which you might know as the Rohrabacher-Farr Amendment, has to be renewed every time a new budget is passed by Congress. This year, Attorney General Jeff Sessions sent…

the summer fair.

the summer fair.

WHY A SUMMER FAIR? The Summer Fair creates new opportunities for small farmers, processors and producers. Many cannabis events charge exorbitant prices for exhibitors and participants, making them out of reach for small businesses.  With a single, affordable booth price of just $500, The Summer Fair levels the playing field by putting small business on…

marijuana@oregon.gov

marijuana@oregon.gov

E-mail OLCC regarding recreational cannabis use at marijuana@oregon.gov                OLCC has established a direct medium for the public to send comments and concerns regarding recreational marijuana legislation in the State of Oregon. W-4Twenty encourages all to submit their thoughts regarding cannabis & let us know what you wrote to the…

marijuana in congress

marijuana in congress

National Cannabis Industry Association Priority Legislation in the 115th Congress   W-4Twenty attended the Q3 Cannabis Caucus that was held by the NCIA on July 18, 2017. Advocates, educators, and local community leaders in the Cannabis industry were present for an update on legislation currently happening in D.C. Here are some of the pieces of Legislation…

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