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Cannabis Cos’ $4.7B In Cash-Based Taxes Overwhelm IRS

PYMNTS

million to a Virginia company to handle “large cash payments for processing cannabis federal taxes.”. billion in taxes last year on nearly $13 billion in revenue from legal cannabis companies. Most of these companies were forced to pay their federal taxes in cash because about 70 percent of all legal cannabis businesses are unbanked.

Taxes 208
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Cannabis lending for financial institutions: Opportunities, risks, and best practices

Abrigo

Cannabis-related businesses (CRBs)spanning everything from cultivation to retailrepresent a market in need of lending services, from working capital to real estate and equipment loans. Get details The opportunities: Why cannabis lending may make good business sense The legalized cannabis market grew $2.6 billion in annual revenue.

Lending 195
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Procure-To-Pay’s Tax Conundrum

PYMNTS

Yet, as supply chains expand across borders, a new burden has landed on procurement teams’ shoulders: compliance. “As a result, tax enforcement will soon be an integral part of — and often pre-approve — every business transaction as it happens.” That burden can come in many forms.

Taxes 139
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Empowering Your Financial Advisors With Salesforce

Perficient

Across industries, so much of marketing effectively comes down to timing — appealing to the right person, at the right place, at the right time. Timing for marketing financial services and products as a financial advisor is especially crucial, as many financial needs follow the timeline of milestones in an individual’s life.

Taxes 294
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Helping Brands: D2C Brands Tap New Business Models To Shorten 'Time To Commerce'

PYMNTS

The shift to digital commerce has opened up new markets for companies across all verticals and sizes. But reaching a broader range of consumers, accommodating their payment preferences, and satisfying regulatory and tax issues in unfamiliar territory introduces a host of new operational challenges for these companies.

Branding 322
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New India Tax Prompts Pushback By Amazon And Flipkart

PYMNTS

Amazon and Flipkart are pushing back against a proposed Indian tax on the online eCommerce market, saying it will stymie growth in the industry, according to a report by Reuters. . The proposed tax is a piece of a bigger plan by Indian Prime Minister Narendra Modi. billion people in India pay income tax.

Taxes 159
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Reuters, KPMG Team For Aussie Business Taxes

PYMNTS

Business information firm Thomson Reuters is teaming up with global tax company KPMG to offer Australia businesses a solution to deal with fringe benefits taxes (FBT), Thomson Reuters announced Thursday (Feb. The ONESOURCE FBT software automates the tax calculations necessary to file an FBT return.

Taxes 130