Could California's Pot Industry Hit the Same Wall as Oregon?

Oregon has experienced a price spiral following the legalization of recreational cannabis in 2014. California, despite its population of over 39 million people and many tourists, may face the same problem. Oversupply is the primary market condition that has driven prices in Oregon.  

 

However,  the scenario of a California cannabis price spiral is unlikely. Now there is a push for federal laws to fully legalize cannabis and enable the interstate trade to fulfill demand across state lines. The basic economics of supply and demand – with cities and counties restricting the sale of cannabis – provide an optimistic outlook for entrepreneurs.


There are many other factors that impact cannabis markets that are changing constantly. To read more about these factors, with some additional insight from Dope CFO’s Andrew, Hunzicker,  read “Could California’s Pot Industry Hit The Same Wall As Oregon?” from The Business Journal.

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Cannabis Owner Gets 7-Months in Prison & Pays $263k Restitutions to the IRS | Cannabliss Court Case

As cannabis accounting professionals, we get a number of inquiries from cannabis businesses that insist that they can cut corners and tip-toe around the rules.

Here’s the thing… CANNABIS IS STILL ILLEGAL.

The first federal sentencing of a legal marijuana business owner for tax crimes is set to take place on November 1st. Partial owner of Cannabliss Dispensary in Eugene OR, Matthew Price has been sentenced to federal prison and $263K in restitution by the IRS.

No matter how many people advised him not to, Mr. Price was caught for failing to report nearly $1M dollars in company income when he commingled the money with his personal expenses. Buying sports cars, Rolex watches, vacations, and even homes were just some of his 'business' purchases.

As an accounting professional, YOU are the expert. It's important that you help your clients understand the importance of proper accounting in this industry and the repercussions of negligence. The problem is that most of the time...

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