The medical marijuana industry in Missouri is growing by leaps and bounds as opportunistic entrepreneurs scramble to secure a slice of this quickly growing industry. The legalization of the restricted use of marijuana for medical purposes in Missouri in November 2018 has sparked a whole new industry that includes dispensaries, grow operations, testing facilities, and manufacturers of marijuana-infused products.
How Does This Tie Into Taxes?
The expansion of the medical marijuana industry in Missouri will spawn many new businesses. These businesses – no matter where they fit in the marijuana supply chain – will have to pay taxes at both the state and federal levels. Since the sale or purchase of marijuana is still technically illegal at the federal level, these businesses may have challenges finding an accounting firm with the knowledge to navigate these murky depths.
Call Adams Accounting Before You Jump In
If you’re considering starting a business that’s associated with the medical marijuana industry, you’ll need a licensed, experienced accounting firm on your side. Give Adams Accounting Solutions a call today at 913-888-9100. We’ll be happy to answer your questions and help you get started on the right foot with your marijuana-related business in Missouri.
