Most recently, Illinois became the second most-populous state to legalize recreational marijuana. Cannabis licenses in Illinois will be issued in 2 groups. In the first wave in mid-2020, the state will award licenses for up to 75 stores, 40 processors and 40 craft growers. In a second wave in December 2021, the state could issue licenses for 110 stores, 60 craft growers and 60 processors.
Although Cannabis is legal on the state level, Federally, the DEA (Drug Enforcement Administration) still list cannabis as a schedule 1 drug. Those wanting to enter the cannabis business need to understand that the cannabis business doesn’t allow the same tax deductions as other business.
Class attendees will learn the following:
- The different types of licensing offered.
- How to maximize the point system.
- The best entities for Cannabis businesses.
- Complicated Taxation 280E Rules.
- Software companies & bookkeeping options.
COMMON CANNABIS FAQ’S
What is the state of Illinois looking for in cannabis license candidates?
Can I start a home based recreational cannabis business?
What are my banking options?
What strategies can I use to reduce my Federal tax bill?
What type of license will be offered?
What must I include in a partnership agreement to protect myself?
What’s entity is used the most in the Cannabis business?
Is there funding available for s socially and economically disadvantaged small businesses & persons?
Get the answers to these questions and more on August 4th 2019! We have teamed up with Chicago Cannabis Consultants to educate consumers about the 4 types of recreational cannabis licenses, funding for social equity applicants, required insurance, and how to reduce Federal taxation. Chicago Cannabis Consultants have served the cannabis industry for the last 5 years in Denver, Nevada, and California. Chicago cannabis consultants have developed effective marketing, management, product development, and distribution techniques which they will be sharing with us during this class.
Light refreshments & small plates will be served until exhausted. 1 TICKET PER PERSON ANY DUPLICATE EMAILS WILL BE KICKED OUT OF THE SYSTEM AND WILL NOT BE ALLOWED ENTRY. To purchase a ticket, you must sign up for our email list here.