The two plan to produce weekly articles on tax issues in the industry
New Frontier Data, a cannabis industry analytics firm, is partnering with CohnReznick LLP, one of the largest accounting firms in the U.S., to create reports on tax issues in the cannabis industry. The two plan to produce weekly articles on tax issues that will be published in New Frontier Data’s cannabis newsletter, as well as reports examining tax pitfalls in the canna-businesses. Based on aggregated 2013 revenues, CohnReznick, based in New York City, is the 10th largest public accounting firm in the U.S., reporting $508 million in revenues in 2014.
What it means for retail: This is good news for the industry as a whole. A growing industry means growing tax revenues and tax issues to deal with. Having one of the biggest accounting firms in the United States start writing articles and giving opinions specific to the cannabis industry directly only means growth will continue in a positive trend with a more informed entrepreneurial base.
To Read This Article On Ganjaprenuer, Click Here