July 2020 - CannaBizCentral

The Ever-Evolving Cannabis Executive-Chief Human Capital/Human Resources Role

July 27, 2020 Editorial Staff Cannabis Executive-Chief Human Capital/Human Resources Role, Cannabis Executive-Chief Human Capital/Human Resources Role Officer, Human Resources

Understanding the critical need of the Cannabis CHC/HR role and the types of capabilities you should be looking for in a candidate will help prepare you for your search and ensure that you’re evaluating potential candidates based on the real needs so that when we enter into our new normal, your organization is prepped and set up for success and not trying to play catch up based on some missteps. We’ve curated a list of the qualifications and criteria below that your top tier candidates should possess to fill this critical leadership position.

Accounting and Taxes

New Tool Automates PPP Loan Forgiveness Process for Cannabis Businesses

July 22, 2020 Editorial Staff PPP, PPP forgiveness, PPP Loan Forgiveness

A new, free tool developed by the AICPA and fintech lender Biz2Credit is designed to help borrowers and their CPA advisers complete the forgiveness application for Paycheck Protection Program (PPP) loans

Accounting and Taxes

7 Ways Cannabis Businesses Can Survive An IRS Audit

July 17, 2020 Editorial Staff Cannabis Business IRS Audit

Companies that have failed to pay their full federal tax obligations or neglect to maintain clean, well-organized books will be in for a rude awakening if the taxman comes visiting.

Human Resources

What Cannabis Businesses Need to Do to Adapt to COVID-19

July 15, 2020 Editorial Staff COVID-19, COVID-19 Return to Work

The COVID-19 virus has impacted just about every business sector on a global scale, and cannabis companies—regardless of their status as essential businesses—were not exempted from this reality. It is the responsibility of every cannabis business to protect its customers amid this pandemic and ensure their employees do not face unemployment due to poor preparation and foresight as a result of their business failing.

Human Resources

OSHA Recommendations For Cannabis Companies Face Mask Usage

July 15, 2020 Editorial Staff COVID Workplace Facemask Requirements

Employer-provided facemasks not mandated. OSHA clarified that facemasks are not considered personal protective equipment (PPE) and are not intended to be substitutes for PPE for protection against exposure to occupational hazards.

Accounting and Taxes

Cannabis Companies Tax Savings Opportunities From the CARES Act

July 13, 2020 Editorial Staff Cares Act Relief, Tax Benefits CARES Act

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, the third phase of legislation aimed at fighting the COVID-19 pandemic and mitigating the related economic harm for families, workers, and businesses. It is the largest stimulus package in history with an estimated cost of $2.2 trillion.

Real Estate

Helpful Trends in Cannabis Real Estate Leases

July 10, 2020 Editorial Staff Cannabis real estate trends

Whether you are a landlord, tenant, or subtenant in the cannabis industry, you need a first-rate cannabis Real Estate lease. The structure of the leasing relationship and the terms of the lease are key components, both for getting funds out of the primary business and mitigating your risks, of which there can be many.