Month: February 2021

Is that deductible? Cost of Goods Sold and 280E

by Mark Nassi, 2/24/21

Let's say I was going to make a simple object like a hand-thrown pot for a plant. You'd need clay, a potter's wheel, some hand tools, a kiln, glaze, and maybe a rack for storage. You'd also need someone to make the pot, fire the pot, and sell the pot (could be the same person, but for this example, let's assume separate people). You'd need a studio space and utilities. Because this pot-making process can't be done in a day, there is a manufacturing progression. You'll have some pots in the... Read More >

The Magic Of An API

by Dani Berger, 2/17/21

By now, you're probably familiar with NCS, and know we ingest hundreds of millions of data points every day, but have you ever wondered how we do it? The NCS Analytics Engine is set up to take in a wide array of data types from various sources. The most common way we receive data is through an API. What is an API, you ask? Great question! The word API stands for Application Programming Interface. It's a link that allows two applications, or software, to send and receive information. It works behind... Read More >

Cultivation Deep Dive: What is a plant batch anyway?

Isaac Freitas, 2/10/21

Plant batches are a mechanism to record the cultivation processes of CRBs for the track-and-trace system and are required by law in most jurisdictions. A plant batch is a group of cannabis plants started simultaneously, often legally required to be of the same strain. Plants organized into a batch often come from the same starting method, such as planting seeds or clones from other cannabis plants. This makes it easy for the cultivators to know where plants are in the growth cycle and makes it straightforward for regulators to see plants' current status in a... Read More >

Know Your Portfolio with Ongoing Monitoring

by Paige Reimers, 2/3/21

Any financial institution looking to start a cannabis banking program should first review their due diligence (or know-your-customer) programs. Many existing CRB programs across the country succeed by partnering with their state or local governments and their BSA (or compliance) teams to provide the highest level of transparency, but not without the legwork of establishing reliable procedures. While the initial steps of any compliance program start with preliminary customer due diligence, many times, consistent, ongoing monitoring falls by the wayside because it can be overly time-consuming. ... Read More >