EXCLUSIVE: Simplifya brings key tax and accounting data to its cannabis regulatory compliance platform via agreement with CohnReznick
will simplifya regulatory and operational compliance software platform serving the cannabis industry, has has partnered with CohnReznick to bring key tax and accounting data to its Simplifya Market GuideBenzinga learned exclusively.
CohnReznick, which administers major tax and accounting advice to plant contact and ancillary businesses in the cannabis industry, agreed to contribute current tax and accounting regulatory guidelines to Simplifya’s RegTech platform that arms both marijuana and marijuana-related businesses with comprehensive, user-friendly regulatory summaries for all 50 states.
“With Market Guide, we are not only helping to dramatically reduce the time and money businesses have to spend on understanding and complying with tax laws, but we are also helping those businesses maintain their licenses and survive,” said said the CEO and co-founder of Simplifya. Marion Mariathasan said.
With the cannabis industry growing day by day, herbal and ancillary businesses regularly face many challenges, CohnReznick Partner Michael HarlowCPA, underlined.
“Proper compliance with tax laws in any highly regulated industry is a challenge, but in the cannabis industry – with its changing and often competing tax requirements from state to state, compounded by federal tax requirements, unscheduled expenses unprecedented deductibles and scrutiny – the challenges facing businesses that affect plants and ancillary businesses are unmatched,” said Harlow.
Meanwhile, Simplifya Market Guide is continually updated with the latest content in real time by a team of regulatory experts and software engineers who monitor changes and state regulatory requirements..
Users can access regulatory snapshots and archived information and receive alerts for any new regulatory changes or updates.
Photo: Courtesy of Glenn Carstens-Peters on Unsplash