Cannabis providers are welcome and invited to BAIR CPA
Bair CPA provides cannabis advisory and accounting services to providers in the state of Michigan. Whether you need help with accounting solutions and/or tax services for your state-licensed marijuana business, our firm has the experience and know how to keep your business in compliance.
Michigan voters approved the legalization of the recreational use of Marihuana for adults 21 years of age and older. The resulting legislation known as the Michigan Regulation and Taxation of Marihuana Act (MRTMA) imposes an excise tax of 10% on retail Marihuana sales in addition to a 6% sales tax.
it is highly recommended that cannabis businesses in Michigan work with a CPA who has experience in cannabis taxation. The cannabis industry is complex and has many unique tax implications. Bair CPA can help cannabis businesses navigate these complexities and ensure that they are in compliance with all applicable tax laws and regulations.
Here are some of the ways that Bair CPA can help a cannabis provider in Michigan:
Tax planning: Bair CPA can help cannabis businesses develop a tax plan that minimizes their tax liability. This may include identifying eligible deductions and credits, and structuring the business in a tax-efficient manner.
Tax preparation: Bair CPA can help cannabis businesses prepare and file their state and federal tax returns. This includes ensuring that all required tax forms are completed correctly and that all applicable deadlines are met.
Tax compliance: Bair CPA can help cannabis businesses stay in compliance with all applicable tax laws and regulations. This includes ensuring that all required tax payments are made on time and that all required tax records are maintained.
Tax audit representation: If a cannabis business is audited by the IRS or the Michigan Department of Treasury, Bair CPA can represent the business and help to ensure that the audit is completed fairly and efficiently.
In addition to these services, Bair CPA can also provide cannabis businesses with general financial management advice and support. This can be helpful for cannabis businesses of all sizes, from startups to established businesses.
If you are a cannabis business owner in Michigan, we encourage you to contact Bair CPA to learn more about how we can help you with your tax needs.