Sam Fensterstock
If you have been paying attention to the California cannabis market recently, you have heard about the credit crisis many suppliers are dealing with.
Not only do marijuana-related operators in the state owe more than $250 million in unpaid taxes – a primary reason for small-business failure in corporate America – but they also are owed millions of dollars in accounts receivable (up to $600 million) from other cannabis-related businesses.
Because of this, a coalition of marijuana firms in California is trying to pass Assembly Bill 766, which would require cannabis licensees to pay for bills for good or services totaling $5,000 or more within 15 days of the final date listed on the invoice.
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The passage and enforcement of this bill would be a major help to California cannabis companies and ensure that the current credit crisis doesn’t happen again.
But, first, the
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