BlueBird, CPAs - NIGA Cannabis Series
3/12/23
Business Considerations • Access to the Banking System
• Business Expectations: Tax Revenues vs. Profit Distributions • Competitive Market Analysis (Tribal and Non-Tribal 280E) • Background Investigations for Key Employees and Vendors • Established Regulatory Body for Oversight and Monitoring • Pre-Opening Budgets and Forecasting • Staffing and Training • Insurance, Payroll and Tax Filings, HR, etc.
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Key Takeaways?
Are we having an Audit performed?
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• Do we have a System of Internal Controls that addresses all applicable regulations? • Are we monitoring compliance with the System of Internal Controls? • Are we monitoring the management company costs and fees? • Do we have a system to address findings or weaknesses? • Do we have established policies for uses of net income or tax proceeds? • Do we have our business considerations identified?
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Audit and Accounting Considerations: Tribal Marijuana Related Businesses
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