Arizona has become the land of opportunity when it comes to businesses operating in the cannabis industry. Proposition 207 – Smart and Safe Arizona Act opened the door to legalized adult recreational use of marijuana, and business is booming. If you’re a cannabis entrepreneur in Arizona and want to bring your dreams to fruition and get the needed support when the stakes are highest, BeachFleischman will work with you to navigate change and prepare your business for the future. Our team of CPAs and advisors understand the intricate landscape of the cannabis industry.
Who We Serve
- Ancillary Industries
- Cultivators
- Dispensaries
- Extractors
- Investors
- Manufacturers
Cannabis Services
- Audit and assurance
- Business valuation
- Business structure and entity selection
- Cash flow, forecasts, and projections
- Compliance and internal controls
- Court-appointed receiverships
- Forensic and litigation support
- Mergers and acquisitions
- Special Master appointments
- Risk assessment
- Tax planning under IRC Section 280E
- Turnaround management & restructuring
Cannabis Insights & Updates
Budding Growth on the Horizon
ASCPA’s Cannabis Special Interest Section Update The cannabis industry is anticipating high-speed growth potential particularly here in Arizona. Despite the many challenges faced by the industry in 2020, Arizona product sales increased and tremendous growth is expected as a result of recent legalization.
How Much Tax Revenue Could Recreational Marijuana Bring to Arizona
MARK BRODIE: Arizona voters last month approved Proposition 207, which legalizes recreational marijuana in the state. Once sales start, buyers will have to pay state, county and city sales taxes. Marijuana will also be subject to a 16% excise tax with that money going to law enforcement, community colleges and other programs. Arizona is one of[ … ]
Employer-Provided Disaster Relief & COVID-19
Amid the COVID-19 pandemic, many employers are looking for tax-advantaged ways to help their employees with additional expenses incurred as a result of the pandemic. Section 139 of the Internal Revenue Code provides the answer. On March 13, 2020, President Trump declared COVID-19 a national disaster under the Robert T. Stafford Disaster Relief and Emergency[ … ]
Cannabis-related Presentations:
- “Dealing with Disruption: After COVID-19,” 2020 National Cannabis Symposium, October 2020
- “Arizona Update: Growth on the Horizon,” 2020 National Cannabis Symposium, October 2020
- “Panel Discussion: Arizona’s Burgeoning Cannabis and Hemp Industry,” Arizona Society of CPAs Cannabis Special Interest Section, February 2020 (presentation and article)
- “A Friday Morning in the Weeds, Part II: Continued Discussions Regarding the Evolving Commercial Cannabis Arena,” State Bar of Arizona, November 2019
- “Grim Reefer: In the End, It’s About Collecting What is Due,” Arizona Department of Revenue, August 2019
- “Cannabis Receiverships – Stirring Up the Pot,” State Bar of Arizona 2019 Convention, June 2019
- “Hemp Me Hemp You Access Risk in Valuations,” Arizona Private Lenders Association, October 2018
- “Weeding Through the Risks,” Southwest Cannabis Convention, October 2017
Special Interest Groups:
- Chairperson for the Cannabis Special Interest Section for the AZ Society of CPAs
- Member of AICPA’s informal Cannabis Task Force
Our Approach
We take a 360-degree view of your cannabis operations to help you capitalize on opportunities. Our bench strength provides you with the advantages of partnering with one trusted advisor backed by a team of cannabis industry advisors.
Our team consists of financial professionals with the following designations:
CPA – Certified Public Accountant, Arizona Board of Accountancy
ABV – Accredited in Business Valuation, American Institute of Certified Public Accountants
ASA – Accredited Senior Appraiser, American Society of Appraisers
CFF – Certified in Financial Forensics, American Institute of Certified Public Accountants
CGMA – Chartered Global Management Accountant, American Institute of Certified Public Accountants
CFA – Chartered Financial Analyst
CFE – Certified Fraud Examiner, Association of Certified Fraud Examiners
CBA – Certified Business Appraiser, Institute of Business Appraisers
CDBV – Certified in Distressed Business Valuation, Association of Insolvency & Restructuring Advisors
CIRA – Certified Insolvency & Restructuring Advisor, Association of Insolvency & Restructuring Advisors
CICA – Certified Internal Controls Auditor, Institute of Internal Controls
CTP – Certified Turnaround Professional, Turnaround Management Association
CCCE – Certified Commercial Cannabis Expert
What you can expect
We work collaboratively with Arizona cannabusinesses to help save taxes, preserve wealth, mitigate risk, improve accountability, enhance profitability, achieve compliance, and realize growth potential. When working together toward your success, you’ll find that we:
- Enhance your ability
- Make interactions easy
- Recognize that success is personal
- Impact the community
Resources you can access
BeachFleischman PC is based in Arizona and has offices in Phoenix and Tucson (Headquarters). We are Arizona’s largest locally-owned CPA firm and a “Top 200” largest CPA firm in the U.S. We serve over 7,000 private enterprises, nonprofit organizations, and entrepreneurs in the U.S., Mexico, and Canada, and provide accounting, assurance, tax, strategic operations & advisory services and litigation support services. BeachFleischman PC is an active member of the Leading Edge Alliance, one of the largest international professional associations of independently-owned accounting and advisory firms.
