Compliance Made Simple™
 
 

CFO Flex

Strategy in business is important and experience can eliminate costly missteps.

Learn More 
 

Internal Audit

Internal Audit is our specialty. We help clients streamline their existing functions, reducing overhead, improving controls and reducing risks

Learn More 
 

BlackLine Services

Technology today is a critical part of any forward thinking business.

Learn More 

Why Choose Aviva Spectrum

 
Aviva Spectrum is the premier management consulting firm on the West Coast. Quite simply, we are Aligning Compliance Values. Whether you are in need of Internal Audit, IT Advisory or CFO Flex Services, connect with us to start the conversation.

on .

Latest from Insights

 

Kyle Spigelman

Cannabis Tax and Regulations - Sonia Luna KTLA Interview

 

Cannabis Taxes are hard to understand, especially with 280E IRS tax code. Connect with Aviva Spectrum for a free consultation at: info@avivaspectrum.com. In the meantime, here is a refresher on some of the important changes to cannabis taxation in 2018.


How to Calculate, Collect and Pay Your Cannabis Taxes!

RETAILERS 

If you're a Cannabis retailer, you now must be collecting cannabis excise tax from your customers beginning January 1, 2018. This new excise tax applies products purchased prior to January 1, 2018 as well. What is the rate and how is it calculated? The rate is 15% excise tax to the State of California. Retailers will need to calculate their excise tax based on the average market price from the retail sale.

 

So, then the next question retailers are asking is where does that tax money go to?

Cannabis retailers are required to pay the cannabis excise tax to a licensed cannabis distributor.

If you need examples of how to calculate your excise tax, please connect with us at:

Info@avivaspectrum.com for a FREE CONSULTATION!

CULTIVATORS

Cannabis cultivators owe the cultivation tax on all harvested cannabis that enters the commercial market beginning on January 1, 2018. Cannabis sold or transferred prior to January 1, 2018 is excluded. Cultivators are required to pay the cultivation tax to a distributor or manufacturer. Manufacturers and distributors must maintain documentation to support that the cannabis was transferred or sold from a cultivator prior to January 1, 2018. Examples of how to apply what rates to flower versus trim are located here.

DISTRIBUTORS

Beginning January 1, 2018, distributors who sell or transfer cannabis or cannabis products to a cannabis retailer are required to collect the cannabis excise tax from the retailer.

Cannabis retailers who acquired cannabis or cannabis products prior to January 1, 2018, upon which they did not pay the cannabis excise tax to a distributor, must collect the 15 percent cannabis excise tax from their customers.

Retailers must pay the excise tax on those sales by the 15th of the following month in which they collected the tax to a licensed cannabis distributor with whom they have a business relationship (that is, a distributor that they purchase or acquire cannabis or cannabis products from beginning on January 1, 2018).

Aviva Spectrum offers a FREE CONSULTATION for all new cannabis clients. Let’s connect today at:

Info@avivaspectrum.com or call us TODAY at (424) 226-2927

 ..

Read More

Kyle Spigelman

Cannabis Industry Money Challenges

 

CEO and founder of Aviva Spectrum, Sonia Luna, discusses cannabis financial hurdles, taxes, 280E issues impacting cannabis federal taxes, and effective rates on FOX TV 40 in Sacramento.

According to FinCen, a government banking watchdog, in its “Marijuana Banking Update” report, during the fourth quarter of 2017, less than 400 banking institutions are actually dealing in the cannabis industry right now of an approximately 12,000 registered banking institutions in the U.S. Sonia Luna, CEO of Aviva Spectrum and leading cannabis advisor shares in this TV interview some solutions such as money orders you can get from the US postal service or accessing private lending vehicles.

If you’re looking for a free cannabis accounting analysis with Sonia Luna, email us today at: Info@avivaspectrum.com

 ..

Read More

Kyle Spigelman

The Future of Cannabis Banking


In this quick TV interview, CEO of Aviva Spectrum, Sonia Luna, offers insights into why cannabis companies have limited access to banking. She discusses how cash transactions affect taxes, cryptocurrency, and the long-term solution to help cannabis companies. Currently, there are only a few providers that have an alternative to banking, such as eXpo founded by Larry Lipman, and Payqwick., founded by Keith Marks, and Ken Berke.

According to FinCen, a government banking watchdog, in its “Marijuana Banking Update” report, during the fourth quarter of 2017, less than 400 banking institutions are actually dealing in the cannabis industry right now of an approximately 12,000 registered banking institutions in the U.S. Sonia Luna, CEO of Aviva Spectrum and leading cannabis advisor shares in this TV interview some solutions such as money orders you can get from the US postal service or accessing private lending vehicles.

If you’re looking for a free cannabis accounting analysis with Sonia Luna, email us today at: Info@avivaspectrum.com

 ..

Read More