How the Government is excluding Black Business from the Marijuana Industry
Detroit is Different episode 232
The Marijuana movement is upon America. In my lifetime the taboo and underground world of indulging in Marijuana has now become a business of interest and popular culture.
State and local governments across the United States of America began sanctioning medical marijuana whereas now recreational use is welcome and open to the world. The federal government still classifies marijuana as a schedule 1 drug substance. This creates many banking and taxation challenges on a Federal level. These challenges are exclusionary barriers creating a very low glass ceiling for many Black business people to enter the marijuana industry.
Levels of capitalization, Internal Revenue Service code IRC 280-E, and the State of Michigan (and many others) Metric system all can be logistical nightmares if not executed well.
Greg Frazier CPA (my Father) comes back to Detroit is Different and shares his understanding and knowledge of the barriers in existence and the way to operate out of jail and debt entering the marijuana industry in Michigan. This is an in-depth video covering many of the ideas and concepts associated with accounting that are imperative to run, operate, and have a marijuana business in compliance with the US Government and the State of Michigan.
For more information and inquiries please contact Greg Frazier CPA at www.gregfraziercpa.com or through LinkedIn
Detroit is Different is a podcast hosted by Khary Frazier covering people adding to the culture of an American Classic city. Visit www.detroitisdifferent.com to hear, see and experience more of what makes Detroit different.
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