The Newsletter’s Aim

Weeding The News – a breakdown of cannabis news, important events, and top-notch accounting tips – aims to entertain and inform you as we watch the cannabis industry transform before us.

The information contained in Weeding The News issues is provided for informational purposes only and should not be construed as tax or legal advice.

© 2025 BTA Corp. All rights reserved. AI-generated.

What’s on the Docket

America deals with the potential erasure of the Farm Bill. And people associated with the ballot initiative that would kill Massachusetts’s cannabis industry have been accused of misleading signees. We hear from an operations manager (and former senior investigator who tackled human trafficking, human smuggling, and domestic terrorism). We highlight some cannabis jobs and, as always, bring you some topical tax strategies.

Cannabis in Los Angeles and Beyond

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Glass House Farms, the site of the infamous raid from last July, has reported losses of $26 million. Read more on Ganjapreneur.

One of the casualties of the federal ban on hemp will be our pets, according to Dr. Tim Shu, who says that many animals have come to rely on CBD for a number of health conditions. Read more on Marijuana Moment.

The hemp ban may not be dead just yet, as GOP congresswoman Nancy Mace is circulating a bill that would stave off the ban. Read more on Cannabis Business Times.

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According to a new report, the cannabis vaping market, valued at $6.6 billion in 2025, should shoot up to $17.2 billion by 2032. Read more on The Marijuana Herald.

Cannabis may provide short-term relief for symptoms connected with autism spectrum disorder, according to new research. Read more on Leafie.

A new study suggests that compounds in cannabis may reduce the risk of alcohol-associated liver disease. Read more on VCU Health.

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Kansas City may soon have 24-hour dispensaries, with some restrictions, of course. Read more on The Kansas City Star.

Wisconsin lawmakers are considering stricter regulations on hemp-derived products. Read more on Ganjapreneur.

Some of the signature gatherers for the Massachusetts ballot initiative that would kill its cannabis industry have been accused of misleading signees as to the purpose of the petition. The spokesperson for the initiative, Wendy Wakeman, who regularly tweets a steady stream of fearmongering, says the bad actors are not associated with the initiative. Read more on MJBizDaily.

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Abroad

According to a new study from Georgia State University and the Chinese University of Hong Kong, there is evidence that a dispensary lowers retail rent for nearby businesses. Read more on PHYS.org.

Tax Strategies

A key part of year-end planning is to ensure the changes associated with the 2024 income tax return filing have been incorporated into the business’s books and records for 2025. The key accounts are going to be the information that was a part of the cost of goods sold section of the 2024 income tax return.

Key parts of the COGS section of the tax return include:

1. Purchases
2. Direct Labor
3. Other Direct Costs

Further details for each section:

Purchases

• Be sure to transfer the ending inventory balance from 2024 to the beginning balance for 2025.
• Take a look for damaged or outdated products that should be written off.
• Be sure all the purchase information is being recorded at “cost,” not “retail” value.

Direct Labor

• Review the allocation of personnel who are working in appropriate accounts.
• Be sure to include associated costs like employer payroll tax expense, any employee insurance plans, and workers’ compensation insurance.

Other Direct Costs

• This is sometimes looked at as a “catch-all,” but it is essential and can have a lot of costs.
• Many costs have an allocated portion of the overall cost of the business, like rent or utilities. Formulas have to be developed so the allocations are accurate.
• Here is a short list of costs that fit into this category: rent, insurance, utilities, and security.

The steps:

1. Post all of the 2024 income tax return adjustments.
2. Build out the chart of accounts (“COA”) to incorporate any additional accounts in the COGS not previously listed.
3. Do a quick review of the balance sheet, looking for any costs that can be reclassified to the P&L, and more specifically to the COGS section of the P&L.
4. With the help of the client, forecast sales and costs to the end of the year (2025).
5. Determine income tax on the forecast that was just created.
6. Offset the income tax project with any estimated payments previously made for the 2025 tax year.

There are several rules associated with estimated payments for the rule to remain penalty-proof. Generally, if sales are increasing this year (2025) over last year (2024), then during the year, pay at the level of 2024 and then final taxes are paid with the filing of the income tax return (2025).

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Upcoming Events

Representatives from Cannabis CPA Tax will be attending these events.
Say hi… we’d love to chat.

MjBizCon 2025

Las Vegas, Nevada, Dec. 2-5
MJBizCon is the largest global B2B cannabis conference and trade show, offering four days of expert-led education, cutting-edge exhibits, and unparalleled networking. Tom Andersen will be moderating a panel discussion at this event.

Events Abroad

If your travels take you abroad, we recommend attending these events.

© 2025 BTA Corp. All rights reserved. AI-generated.

The Situation Report

In Maine, a father and son have been found guilty in a cannabis conspiracy case. In total, thirteen people have been convicted of various offenses in this case, including a local selectman, an assistant district attorney, and two sheriff’s deputies. Read more on News Center Maine.

In Washington state, one minor has been arrested, and five more suspects remain at large following the burglary of a dispensary. Police say that one vehicle was used to ram through the dispensary while a Kia Optima was used as a getaway vehicle. Read more on MYNORTHWEST.

A mixed verdict was turned in for a man accused of working at an illegal dispensary in California. The man faces a year and a half in jail. Read more on KGET.

Industry Insight

Justin Pilgrin

Cannabis Banking Operations Manager at KeyPoint Credit Union

“With over 15 years in the regulatory financial sector, I’ve observed significant shifts in how financial institutions approach cannabis. While more change is undoubtedly on the horizon, its timing remains uncertain—even for state and federal agencies. In the coming year, I anticipate more dialogue around fee structures, compliance requirements, lending opportunities, and the potential rescheduling or descheduling of marijuana. The more we engage in these conversations, the closer we move toward meaningful, collective progress.”

About Justin Pilgrin

Justin Pilgrim, CAMS, serves as the Cannabis Banking Operations Manager at KeyPoint Credit Union. Over time, the credit union has grown to host one of the largest cannabis banking programs in California.

Before joining KeyPoint, Justin helped oversee a team of financial crimes investigators at Wells Fargo, where their primary mission was to combat drug trafficking, human trafficking, human smuggling, and domestic terrorism.

© 2025 BTA Corp. All rights reserved. AI-generated.

Jobs

Job Title: Dispensary Supervisor (Friend St)
Location: Boston, MA
Salary: NA

Ascend Wellness Holdings (AWH) is a vertically integrated cannabis cultivator, processor, and provisioning center operator with assets in Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, and Pennsylvania.

Requirements:

• Must be at least 21 years old
• Possess a high school diploma or general education degree (GED)
• 2+ years in a supervisory or management role in a retail setting, specifically with POS business operations
• Cannabis experience required

Ideal candidates will have exceptional customer service skills and a keen understanding of applicable state and local laws and regulations as they pertain to the industry and personnel law, safety regulations, local municipal codes, and organizational rules, regulations, directives, and standard operating procedures.

Benefits:

• Flexible schedules
• 2 weeks of paid time off (PTO)

Check out their reviews on Glassdoor.

Job Title: Activation Manager, Retail
Location: Miami, FL
Salary: $90,000 – $100,000 USD

Curaleaf Holdings is a leading international provider of consumer products.

Requirements:

• Bachelor’s degree in Marketing, Business Administration, or related field
• 4–6 years of experience in field marketing, retail activation, or shopper marketing
• Proven track record of successful in-store execution and event activation.
• Willingness to travel up to 25% within assigned regions

Ideal candidates will have an MBA or other advanced degree, experience in (or passion for) highly regulated industries such as cannabis, alcohol, tobacco, or pharma, and strong organizational, communication, and calendar management skills.

Benefits:

• Generous PTO and Parental Leave
• 401(K) Retirement Plan
• Life/Disability Insurance
• Community Involvement
• Referral Bonuses and Product Discounts

Check out their reviews on Glassdoor.

Job Title: Plant Manager
Location: Clackamas, OR
Salary: $90,000 – $115,000

Wyld is the largest cannabis edible producer in the country.

Requirements:

• At least 5 years of directly-related experience and/or training in a manufacturing or packaging environment
• At least 2 years leading large, diverse teams across multiple departments
• Must be able to travel on an as-needed basis to additional locations and facilities
• Must be 21 years old

Ideal candidates will be excellent in conflict resolution, communication, learning, and teaching an array of subjects and possess a ServSafe Food Handler’s Card.

Benefits:

• 11 paid holidays
• Unlimited PTO
• 401(k)
• Paid health, dental, and vision insurance

Check out their reviews on Glassdoor.

© 2025 BTA Corp. All rights reserved. AI-generated.