JEFF SESSIONS AND 280E DEFENSE

James Thorburn
Posted at 1/4/2018 5:26:51 PM

Dear NCIA friends:

As we embark upon 2018, Thorburn Walker continues to be at the forefront of cannabis tax defense.  It was disappointing, but not unexpected, that Jeff Sessions would rescind the Cole and Ogden Memos.  However, it was this possibility that kept us moving in aggressively defending IRS audits of cannabis clients. 

Jeff Sessions is giving the green light to cannabis prosecution. Whether or not they will occur remains uncertain.  Regardless, given the dual nature of IRS 280E audits, it is important to protect your rights.  The cold, hard, truth of Sec...more

Categories: Lawyers & Legal Services
Tags:
  • 280E
  • Jeff Sessions
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Application to Open a California Cannabis Company Includes the Purchase of a Licensing Bond

JB Woods
Posted at 12/4/2017 3:12:49 PM

California Requirements:  Licensing Bonds for Cannabis Businesses

The Bureau of Cannabis Control has indicated through the California Code of Regulations a bond will be needed as part of the annual license application requirements under Section 5002.   This means retailers, cultivators, manufacturers, distributors, laboratory testing, and microbusinesses will need to buy a bond. 

Section 5008 (Bond) of the code states:

A bond is a type of insurance product with features of a loan.  The face amount of the bond is paid to the party requesting their interests be pr...more

Categories: Insurance
Tags:
  • bond
  • licensing
  • california
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Reducing your Workers Compensation Insurance in Colorado for Cannabis Companies

JB Woods
Posted at 11/15/2017 4:59:56 AM

Correct Job Classification and Cost Containment are Two Areas to Reduce Premium


Workers compensation insurance is a necessary product when you have employees with each state mandating this type of coverage.  In Colorado, there are several key areas to consider to potentially reducing your premium if you're a cannabis operation. 

The correct job classifications of your employees is critical.  There is a significant difference in premium for employees working at a store versus a cultivation facility, bakery, or extraction company.  In fact, Greenpoint Insurance Advisors...more

Categories: Insurance
Tags:
  • colorado workers compensation
  • workers comp insurance
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Reducing your Workers Compensation Insurance in Colorado for Cannabis Companies

JB Woods
Posted at 11/15/2017 4:59:45 AM

Correct Job Classification and Cost Containment are Two Areas to Reduce Premium


Workers compensation insurance is a necessary product when you have employees with each state mandating this type of coverage.  In Colorado, there are several key areas to consider to potentially reducing your premium if you're a cannabis operation. 

The correct job classifications of your employees is critical.  There is a significant difference in premium for employees working at a store versus a cultivation facility, bakery, or extraction company.  In fact, Greenpoint Insurance Advisors...more

Categories: Insurance
Tags:
  • colorado workers compensation
  • workers comp insurance
0 Comments

Treasurer Chiang Releases Recommendations to Address Lack of Banking for Cannabis Industry

JB Woods
Posted at 11/14/2017 2:39:33 PM

PR17:59
Nov. 7, 2017
Contact: Marc Lifsher
news@sto.ca.gov
916-653-2995
 
SACRAMENTO – State Treasurer John Chiang today released a report outlining steps California can take to address the lack of banking services that force much of the cannabis industry to operate in cash.

“It is unfair and a public safety risk to require a legal industry to haul duffle bags of cash to pay taxes, employees and utility bills,” said Chiang. “The reliance on cash paints a target on the back of cannabis operators and makes them and the general public vulnerable to violence and organized crime.”

...more

Categories: Banking & Payment Processing
Tags:
  • california
  • banking
  • cannabis
  • marijuana banking
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How Much is your Cannabis Plant Worth According to your Insurance Carrier?

JB Woods
Posted at 11/14/2017 1:26:59 PM

Golden Bear Insurance Company Using Per Cannabis Plant Valuation for Crop Insurance

by Greenpoint Insurance Advisors, LLC 
 

Filed with the California Department of Insurance, the first admitted cannabis insurance carrier Golden Bear Insurance Co is using a per plant valuation to calculate how much will be paid should a claim occur.  For example, a fire burns 200 cannabis plants considered "Flowering Plants," then $150 per plant or $30,000 would be paid for this type of claim according to the policy forms filed with the Department of Insurance.  A mother...more

Categories: Insurance
Tags:
  • insurance
  • golden bear
  • crop insurance
  • plant value
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First Admitted Marijuana Insurance Carrier in the Nation Approved in California to Sell Pot Coverage

JB Woods
Posted at 11/10/2017 3:09:51 PM

Golden Bear Insurance Co. will likely take a Big Bite out of Existing Non-Admitted Insurance Markets


Well, it finally happened with Golden Bear Insurance Company was approved by the California Department of insurance to offer coverage through an admitted insurance program for marijuana companies. This is a really big deal for those of us who specialize in marijuana insurance because historically, this line of insurance was offered only from "non-admitted carriers" specializing in "high" risk.    This will be a bigger deal to the marijuana industry as they beg...more

Categories: Insurance
Tags:
  • insurance
  • admitted carrier
  • golden bear
  • california
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New Website Announcement!

Nathaniel Gurien
Posted at 11/9/2017 2:21:10 PM

ORION GROUP NYC is pleased to annouce that our website has been fully revised and updated to reflect our focus on compliant cannabis banking and payment solutions.

CHECK IT OUT!

www.oriongroup.nyc

 

 

 

 

 

...more

Categories: Advertising, PR, Marketing
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