Marcum has over 65 years of experience providing accounting and advisory services to thousands of companies in a broad array of industries. Marcum is one of the top 15 accounting and advisory firms in the country, providing services to a variety of clients from small local business to large international firms.
Marcum LLP's Cannabis Services Group provides the support, objectivity and expertise to businesses currently in the cannabis industry and to those who want to enter and succeed within this emerging industry. We offer a broad spectrum of accounting, financial, and consulting services to various industries from businesses involved in production of cannabis to businesses that support and service the cannabis industry. Our professionals provide services, which give investors, owners and ancillary businesses the insight they need to grow.
Marcum's Cannabis Services Group has established itself as an industry leader and has been recognized by various trade and professional organizations to possess subject matter expertise. In fact, members of our group serve in key management positions in various authoritative organizations within the cannabis industry.
Why Choose Marcum?
We have a qualified team of professionals throughout the country including numerous key states where cannabis has or will become legal for both medical and/or recreational use. Marcum's Cannabis Services Group professionals provide their clients with valuable accounting services including tax, assurance, financial, cash flow analysis, consulting and valuations services for your business.
These services extend to all related industries which support and service the cannabis industry. These industries include, but are not limited to: cannabis accessories, retailers, distributors, cannabis cultivation suppliers, cannabis cultivators, equipment, security, waste management, delivery service, insurance, hemp products and many more.
We offer a wide range of services that are individually tailored to meet your needs.
- Business structure;
- Assist in business capitalization utilizing private equity and hedge funds;
- Business operations, including compliance and internal controls;
- Tax services and planning under IRC Section 280E;
- Audit and Assurance services;
- Consulting services, including but not limited to preparation of cash flows, forecasts and projections;
- Mergers and Acquisitions and Investigative Due Diligence;
- Forensic and Litigation Services.
Top Tax & Accounting Issues
Entity Type - entity choices from a federal and state standpoint.
Inventory & Sales - proper accounting policies and procedures.
Accounting Systems - determination of classifications and allocations, detailed requirements to maximize allowable deductions.
Internal Control Structure - development of proper internal controls while keeping in mind efficiency and company structure.
Tax Planning for Business Expenses (IRC §280E) - separate businesses, maximizing cost of goods sold.
Legal and Operational Structure - choices to maximize flexibility and to comply with federal, state, and local laws, including licensing.
Cash Flow - best practices for handling cash from an accounting and tax perspective, including required IRS reporting.
Banking - establishing relationships with financial institutions able to transact business within the cannabis industry.
Administration of Taxes Other than Income Tax - sales taxes, excise taxes, cultivation taxes, etc.
Industry Differences - cultivation, manufacturing, distribution, retail/dispensary, other ancillary businesses.
Related News
September 27, 2019
As Seen In
Marijuana Business Daily quoted Advisory Partner Gary Rosen in an article about the U.S. House of Representatives’ vote to allow financial institutions and insurance companies to serve state-legal marijuana businesses.
After the SAFE vote in US House, here’s what you need to know about the current state of banking in the marijuana industry.
September 12, 2019
As Seen In
HFM Global published an article by Assurance Partner Marni Pankin, analyzing the risks and other considerations of launching and investing in cannabis funds.
Analysis of the risks and other considerations when launching and investing in cannabis funds.
July 01, 2019
As Seen In
Marijuana Business quoted Assurance Partner Anson Augustine in a cover story about the process of raising capital.
Raising money in the U.S. cannabis industry today is far different than it was one year ago - and unrecognizable from three or four years ....
July 01, 2019
As Seen In
Marijuana Business quoted Advisory Partner Gary Rosen in an article about the importance of internal financial and compliance controls and record-keeping, to establish an account with the relative few banks that service the marijuana industry.
Getting a bank account remains one of the most difficult challenges of running a marijuana business, despite greater public, political and legal acceptance of cannabis.
April 09, 2019
As Seen In
CPA Trendlines featured Advisory Partner Gary Rosen in an article about the "green rush" to cannabis and how accounting professionals are advising cannabis clients.
There's no denying it - cannabis is hot and more people (CPAs included) are jumping in to be part of the Green Rush.
March 20, 2019
As Seen In
HFMWeek quoted Assurance Partner Marni Pankin in an article about venture capital investment in cannabis and the challenges facing cannabis funds.
In the US there are 33 states that have approved medical marijuana and 10 that have approved recreational marijuana, with at least eight states, including ....
November 13, 2018
As Seen In
Inside Public Accounting quoted Advisory Partner Gary Rosen in a feature article about accounting services to the cannabis industry.
It sounds like the perfect business opportunity: a fast‐growing industry with numerous, complex and unique challenges combined with strong demand for accounting services. But rather ....
July 31, 2018
As Seen In
CPA Trendlines interviewed Advisory Partner Gary Rosen for an article about CPAs entering the cannabusiness.
A Top 100 accounting and advisory firm, with 23 offices nationwide, Marcum has been working with cannabusiness clients for several years, watching the ramp up ....
May 29, 2018
As Seen In
Fox Business quoted Vice Chairman David Bukzin, head of Marcum's SEC Practice, regarding the listing of U.S. cannabis companies on the Canadian Securities Exchange.
Conflicting U.S. and Canadian laws have made it difficult for American pot companies to raise money. In a reversal, Canadian cannabis companies are listing on major ....
May 29, 2018
As Seen In
Bloomberg News interviewed Vice Chairman David Bukzin, national leader of the SEC Services Practice, about U.S. cannabis companies going public on the Canadian Securities Exchange.
The reverse takeover in which a private company goes public via the acquisition of a listed one is among the largest deals for marijuana in ....
May 14, 2018
As Seen In
Cannabis Business Times and Cannabis Dispensary featured a cover interview with Vice Chairman David Bukzin, head of the SEC Services Practice, about accessing capital in the cannabis industry.
Because cannabis remains federally illegal in the United States, businesses in the industry face unique challenges when accessing capital.
May 10, 2018
As Seen In
NJ Cannabis Insider interviewed Advisory Partner Gary Rosen in a Q&A about considerations for operating a leaf-touching business.
Keeping proper and accurate records so you're aware of the revenue stream that's coming from the leaf-touching business and the ancillary services.
April 27, 2018
As Seen In
Marijuana Money reported on Marcum's entry into the cannabis industry.
Marcum LLP, a top national NYC accounting and advisory firm, recently established its Cannabis Services Group.
April 27, 2018
As Seen In
The Boston Business Journal pointed to Marcum's new cannabis industry practice in an article about accounting firms working in this emerging industry.
Marijuana dispensaries need an accountant just like any other business. But some accounting firms are reluctant to bring on pot businesses as clients, afraid of ....
Contacts
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Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.
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