Billion-Dollar Questions: Cannabis FAQ for Accountants

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Source: mjbizdaily.com/factbook/

18 Frequently Asked Questions on Taxes and Accounting for Cannabis Businesses.
Plus: Six Leading Sources for More Info.

By CPA Trendlines Research

With cannabis dispensaries and recreational stores pulling in about $3.1 billion in revenue this year, the U.S. marijuana industry is expected to pump an estimated $10 billion into state and local economies, making it a powerful source of industry, employment and taxes for cash-strapped states, according to the Marijuana Business Factbook. The same source projects a $29 billion industry in four years, rivaling today’s U.S. wine industry.

RELATED: See more marijuana-industry reports here

More than 60 tax, accounting and CPA firms in more than two dozen states are already advertising cannabis-related business issues as a specialty niche.

Naturally, accountants have questions. Here CPA Trendlines answers a few of the most frequently asked…