The Washington Post compiled data that demonstrates the affect that cannabis decriminalization efforts have had on the drug trade and the data shows that the Mexican cartel’s marijuana exports have plundered in the previous five years by more than two million pounds of product being snuck across the border as a result to the shift in California’s cannabis decriminalization efforts. Competition has also decreased radically because cannabis growers in Mexico cannot keep up wit the quality of state side cultivation techniques that have yielded superior product to the Mexican grower’s outdoor harvest. Prices have also dropped and the demand is waning due to the quality and standards of the plant being grown by California cultivators.
California residents are purchasing cannabis domestically and this means more state revenue accompanied by more job opportunities. As we get closer towards the legalization of cannabis consumption in California it is important for cannabusinesses to abide by state and federal policies. In 2014 over 60% of marijuana plants were seized due to unlawful production and licensing practices and the Federal government confiscated thousands of pounds of plants. It is important to comply with the rules and regulations and cannabis firms must choose a team of tax and accounting professionals who are well informed and experienced in cannabis legislation and tax practices. Cannabis Tax and Accounting Services is a legal and accounting firm who specializes in cannabis corporate structures, financial services, tax preparation, and bookkeeping. The cannabis legal team is designed to give you unified and integrative services to help assist every level of your business and prepare you for the inevitable audit during tax season.