CannaList Conversations with Mike Goral – National Cannabis and Hemp Practice at Armanino LLP
We had the pleasure of speaking with Mike Goral. Mike leads Armanino’s Cannabis Tax group and travels back and forth from the East to the West Coast as this industry rapidly expands across the country. As the tax law expert in this industry, he provides cannabis leaders with the necessary business expertise to grow, go public or sell.
Mike leads Armanino’s Cannabis Tax group. A tax professional since 1989, he has significant experience in federal, state, and local tax from both an accounting and legal perspective. He spent time with multiple Big 4 firms, including serving in KPMG’s Washington National Tax Office, and has worked with cannabis companies both large and small in California, Nevada, Oregon, Washington, and Colorado.
He advises cannabis clients on a broad range of issues that affect the space, including mergers and acquisitions, loan structuring, and funding mechanisms from venture capital, private equity, and investment banking. Mike provides guidance on cannabis technology, manufacturing, transportation, and retail issues and literally wrote the book on Cannabis Taxation for Thomson Reuters.
Mike is the contributing editor of Cannabis Taxation, a 250-page treatise for Thomson Reuters, discussing the 33 states that tax cannabis sales. He is a member of the California Society of Certified Public Accountants, the National Cannabis Industry Association, and the California Cannabis Association, which nominated him for their CPA of the Year award for 2019. He holds a B.S. in mathematics and psychology from the University of Alabama, a J.D. from Cumberland Law, and a Masters of Tax Law from Emory Law School.
We Help Cannabis Business Leaders Streamline Their Organizations
Cultivation
Our tax professionals know the intricacies of Form 280E for maximizing tax efficiency. We make sure core accounting tasks—like accounting for plants through their life cycle—are executed correctly and at minimum cost, and we help you comply with all state laws and local ordinances.
Manufacturing
We help you comply with sourcing, product safety, worker safety, and environmental regulations. We implement cost-efficient inventory control methods, quality assurance procedures and security arrangements for safe and profitable operations. Our tax experts work to lower your tax burden.
Distribution
We help you solve the financial and operational problems of a cash business. We implement security programs that keep employees safe and product secure, and design internal controls to ensure compliance with all state laws, including taxation and licensing.
Dispensaries
Armanino works with dispensaries to achieve efficient inventory management, proper licensing and timely tax payments. We help you comply with packaging and labeling regulations. Our security professionals provide support against threats like embezzlement and robbery.
