A FREE TAX COMPLIANCE COMMUNITY TO SUPPORT CANNABIS BUSINESSES
Taxnexus Community is designed to help the cannabis taxpayer. Cannabis tax revenues, along with the medicinal benefits for patients, were the motivating factors for cannabis legalization in California. While the medicinal benefits are in full effect for businesses and patients, California cannabis taxes have become the wild west.
The state cannabis excise and cultivation taxes, the hundreds of complicated and hard-to-find local cannabis business taxes and regulations, all on top of sales and use taxes, have made it very difficult for cannabis businesses (taxpayers) to comply. For the most part, cannabis taxpayers have been left to their own devices to figure it out.
But, if the industry wants to succeed, cannabis taxpayers must comply with cannabis tax laws so that the state and local governments can collect the projected tax revenues. To achieve compliance, cannabis taxpayers need support.
WE’RE ALL IN THIS TOGETHER!
Taxnexus Introduces Our New Community
Welcome to the first and only discussion board made for the cannabis industry aimed to bring together cannabis taxpayers, industry service providers, and state and local tax authority representatives to discuss cannabis taxes.
In Taxnexus Community, these individuals or entities can join as users to contribute or just to read through others’ posts to gain information. Below is a brief description of what we hope everyone can put in and get out of this opportunity.
OUR VISION FOR TAXNEXUS COMMUNITY
We Invite the following Cannabis Industry Participants:
Taxpayers will have easy and free access to a platform where they can ask their cannabis tax-related questions, share experiences with their peers statewide, engage with vendors and even regulators , and obtain industry information.
Vendors will be able to reach a large number of cannabis businesses statewide at once, provide them with useful information, share their expertise and attract potential new clients.
Government Regulators, from both state and local cannabis taxing authorities, will be able to engage with cannabis taxpayers (whether statewide or for their local jurisdictions), make announcements, provide information, and answer questions. We have heard that many cannabis taxpayers that want to be tax compliant simply don’t know who to contact and can’t easily obtain the information they need.
Government resources are limited and can’t help each of them directly. By using Taxnexus Community as the platform to engage with taxpayers, they would no longer have to contact multiple government offices to obtain tax information.
A WIN-WIN-WIN PROPOSITION FOR THE CANNABIS INDUSTRY
Taxnexus Community is a win-win-win opportunity for all cannabis industry participants. By bringing some of the key players together in one place to support each other, it works to bring clarity to the cannabis tax chaos and enables the success of the industry.