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Emerging California Cannabis Industry: Gold Rush or Fool's Gold

SUMMARY AND SYNOPSIS: This is a very fast moving course comprised of nine parts. Mr. Homayouni narrates 200 PowerPoint slides and provides his perspective of the emerging California Cannabis Industry. He has talked to hundreds of people, participated in drafting multiple counties cannabis regulations and attended many conference to think about and ascertain what is going to work and the inherent risks involved. Hear and watch a hands on presentation from someone that is in the trenches everyday. The industry is changing fast, from legislation, to enforcement, to fines. It is no longer business as usual as we head into 2018. This are exciting times and also anxious times. If you know nothing about the industry to being an experienced cultivator, you will learn something from the course and have a lot to think about.   

PART 1: STATUS AND RISKS OF THE CALIFORNIA CANNABIS INDUSTRY

  • Status of the Cannabis Industry in California
  • Where is cultivation taking place and why
  • Variety of Cannabis Products – Many products and risks
  • Example of Predicted Over Supply
  • Potential Collapse of Markets
  • Risk of Single Owner/Location Model
  • Black Market Risks to the Legal Market
  • Markets that may collapse
  • Patience May Equal Opportunity
  • Do Not Listen to the Hype
  • The Cannabis Business Pyramid
  • Case Study: Sacramento versus Plumas County

PART 2: THE PERMIT PROCESS

  • The permit process: Steps to Begin Operations
  • Compliance is Complex
  • Initial Steps
  • Appling for a local license
  • Applying for a State license
  • California Licensing Fees
  • Difference in a “M” license and “A” license
  • Loss of Rohrabacher Farr protections under “A” license
  • Cultivator’s Tax
  • Business Risk: Licensing fees increase. Presentation of real life examples
  • California Environmental Quality Act (CEQA)
  • CEQA: Another Landmine to Avoid
  • Exemptions from CEQA
  • The EIR Report prepared by the State of California
  • Risk Factors

PART 3: TAG AND TRACE

  • Tag and Trace
  • List of popular tag and trace systems
  • ERP system

PART 4: LOCATION ISSUES

  • Location finding and dealing with landlords
  • Innocent 3rd party defense evaporation
  • Lack of rentable properties
  • Lease with an Option to Purchase and 30-day exit clause
  • Electrical Rates
  • HVAC system
  • Fire Sprinklers (change of use or change of occupancy)
  • Water Permit
  • Required Renewable Sources
  • How to get renewable source information from the utility
  • Carbon footprint calculation
  • 3Phase Electricity
  • Different lights and electrical usage
  • Why choose 277V lights
  • Light Deprivation Greenhouses
  • Local power provider may have a special rate for faming companies
  • California Department of Fish and Wildlife

PART 5: CALIFORNIA DEPARTMENTS AND AGENCIES

  • The Big Three Agencies
  • California Department of Food and Agriculture
  • California Bureau of Cannabis Control
  • California Department of Public Health
  • California Department of Fish and Wildlife
  • California Department of Pesticide Regulation
  • California Department of Water Resources
  • Regional Water Control Board
  • Franchise Tax Board

PART 6: TAXATION

  • Effective tax rates of a licensed cannabis business
  • IRS Tax penalties can be crushing
  • Celebrities convicted of tax evasion
  • Regular corporation tax advantages for California Income Tax
  • AB 420: Entity selection will have a tax effect
  • Regular Corporation tax advantages
  • IRS audit rate of cannabis businesses
  • Cannabis Businesses Have Tax Challenges
  • Internal Revenue Code 280E and Treasury Regulation 1.471
  • COGS for Cannabis Resellers
  • COGA for Cannabis Producers
  • What is Generally Accepted Accounting Principals
  • What is the difference between GAAP and Cash Accounting
  • Additional Expenses to Comply with GAAP
  • IRS Trap #1: Failure to File Forms 8300
  • What is and is not cash for purposes of Form 8300
  • IRS Trap #2: Failure to file Form 1099
  • Tax, Tax and More Tax
  • Where to get information
  • Sales tax reduction for Farming equipment and supplies

PART 7: ASSET CONFISCATION

  • The Myths of asset confiscation
  • Graphs of asset seizures
  • Assets subject to seizure
  • Raids with local police
  • Example: Use of seized assets by the City of Pomona
  • How does an asset forfeiture happen?
  • Rohrabacher Farr
  • What does it all mean?
  • Why it is hard to lease property?

PART 8: ASSET PROTECTION

  • Asset Protection
  • Litigation Facts
  • What is Asset Protection?
  • Asset Protection Plan Facts
  • Steps to Create an Asset Protection Plan Strategy
  • Safe Assets and Unsafe Assets
  • Asset Protection Vehicles
  • Revocable vs. Irrevocable Trust
  • Limited Liability Company vs. S Corporation
  • Avoiding Probate
  • Asset Protection and Estate Planning

PART 9: WRAP UP AND QUESTIONS


EXPERT ADVICE FROM THOSE THAT KNOW

The Good, The Bad and the Ugly

Get an honest evaluation of the California Cannabis Industry before you commit.

Table of Contents

Lessons
LESSON 1: STATUS AND RISKS OF THE CALIFORNIA CANNABIS INDUSTRY
video
LESSON 2: THE PERMIT PROCESS
video
LESSON 3: TAG AND TRACE
video
LESSON 4: LOCATION ISSUES
video
LESSON 5: CALIFORNIA DEPARTMENTS AND AGENCIES
video
LESSON 6: TAXATION
video
LESSON 7: ASSET CONFISCATION
video
LESSON 8: ASSET PROTECTION
video
LESSON 9: WRAP UP AND QUESTIONS
video

Frequently Asked Questions

How long do I have access to the course?

Forever! Once you've enrolled and paid, you'll have access to the course material for as long as you need. So devour it all in one weekend or take things slow. It's your choice!

What if I'm unhappy with my purchase?

Well, I would be sad. But if you're really unhappy with the course, just email me within 10 days to get a full refund.

I still have a question, how can I contact you?

I'd be happy to answer any questions you might have. Send me an email at deanhomayouni@gmail.com.

Don't miss out
Over six hours of advice discussing a wide range of Legal and Accounting issues.