Cannabis Services

Cannabis Business Entity Formation and Startup

Cendrowski Corporate Advisors can help cannabis businesses with entity selection and company formation, critical decisions from both legal and tax planning perspectives.

In just one example of how important those decisions are, each license is exclusive to the licensee in Michigan, and conveyance of interest of more than 1% is prohibited without prior board approval. It is essential to determine the license ownership upfront, as changes down the road require additional regulatory scrutiny.

The Medical Marijuana Facility Licensing Act (MMFLA) and the Michigan Department of Licensing and Regulatory Affairs (LARA) require licensees to develop and maintain accounting and inventory control systems specific to the state’s regulations. Depending on the type and size of the business, these might be reasonably simple, or they could be more complex.

Accounting Procedures and Systems for Cannabis Sales

For startup entities, Cendrowski Corporate Advisors can provide the basic building blocks to set up and organize the business, including monthly checklists, accounting procedures, and templates for an accounting system. We can access critical information to inform decisions related to the initial application, accounting, and tax return preparation in the future, including 280E considerations.

Cannabis Product Inventory Control Procedures

For cannabis businesses, the state of Michigan requires a third-party inventory control system that can interface with the statewide monitoring system. Cendrowski Corporate Advisors can help develop these procedures to ensure inventory data is accurately captured for compliant reporting to the state.

Understanding Economic Damages Calculation Lost Profits vs. Lost Business Value Featured Imge

Understanding Economic Damages Calculation: Lost Profits vs. Lost Business Value

When a plaintiff seeks compensation from a defendant for economic damages resulting from a breach of contract or other wrongful actions, damage experts need to consider the facts of the case to determine the most appropriate measure of damages. The two most sought damages in these cases are lost profits and lost business value. We […]

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John Alfonsi and 2023 Mid-market Deal Maker Symposium

John Alfonsi Panelist at the 2023 Mid-Market Deal Makers Symposium

Join us in congratulating John Alfonsi on being selected as a Panelist at the 2023 Mid-Market Deal Makers Symposium on January 10th – 13th. This year’s exclusive symposium for Deal Makers members will be held at the luxurious SLS South Beach in Miami, Florida. Deal Makers members are coming together for networking, education, and fun. […]

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GGI World Conference Recap

GGI World Conference Recap

Attending GGI World Conference is just one way we expand our knowledge. We also broaden our access to an extensive network of expertise and contacts through GGI Global Alliance. That opens a world of resources to benefit you. Harry Cendrowski attended Montreal’s GGI World Conference as global chair of the GGI Trust & Estate Planning […]

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