Executive Spotlight: Nick J. Richards – Greenspoon Marder LLP

What does the future of the regulated cannabis industry look like to you and your company? 

With the release of the TIGTA report on Section 280E audits it appears the industry will continue to be targeted by the IRS and other federal agencies. As the leading tax professionals for the cannabis industry, we anticipate that we will be busy fighting for our clients. 


How should entrepreneurs best position themselves for success in the regulated cannabis industry? 

Compliance – again and again, we see mistakes around regulatory, tax and BSA compliance putting cannabis companies out of business. Focus on compliance and choose your advisors carefully.


What are you hoping to gain from your partnership with MJClick?

As a qualified professional advisor to the industry, I look forward to providing sound advise grounded in significant experience so to save those new to the industry from being mislead by unqualified professionals posing as experts. 


What are the key issues your company is currently facing related to medical cannabis in the workplace?

We are not experiencing any issues with regard to medical cannabis in our workplace. 


What are the most significant hurdles you see the cannabis industry facing in the coming year? 

The trump administration 


How do you see your company adapting to the ongoing compliance issues related to a growing industry such as legal cannabis?

We will continue to fight for our clients and protect their businesses by providing solutions for compliance issues 


Where do you see the biggest profit centers coming from in the regulated cannabis industry?

Retail sales of adult use cannabis


Do you intend to educate your employees and make them aware of the medical benefits of cannabis?

No


What do you see the role of technology playing in the cannabis industry moving forward?

More science regarding the uses for the plant


As an executive, how do you feel about the possibility of your employees taking a THC infused medical cannabis product during work hours?

We do not allow the consumption of recreational drugs or alcohol during work hours.