BlueBird, CPAs - NIGA Cannabis Series
3/12/23
What is Unique About Tribal Marijuana Related Businesses? • Jurisdictional Irregularities (Tribal, State, Local, Federal) • Reporting Entity Structure (Formation of Legal Entity and Level of Control)
• Banking Issues (Segregation of Funds, Lenders, etc.) • Layers of Regulations (TCRA, State, Tribal Codes, etc.)
• Volume of Cash Transactions and Reconciliation/Documentation • Computer Systems (Point of Sale and State Seed-to-Sale (if applicable)) • Tax Revenue Accounting and Related Uses • Tribal Government Transactions
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Why Audit?
Compliance- •
Tribal Marijuana Ordinance? Tribal-State Marijuana Compact? Tribal Marijuana Regulations?
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Other- •
Accountability to Tribal Membership
• Monitoring of Accurate Profit and Tax Remittances • Oversight of Management / Outside Consultants
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Audit and Accounting Considerations: Tribal Marijuana Related Businesses
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