Taxes And Cannabis with Jacques Santucci
Tune in to this episode to learn more about taxes and cannabis with Jacques Santucci of Nucleus One.
Jacques is the President of Nucleus One Consulting, which provides business management consulting specializing in the cannabis industry. Working as a cannabis entrepreneur for over 10 years, Jacques founded the firm on the premise of sharing his experience and proven best practices, helping cannabis businesses succeed at the intersection of finance, operations, and strategy. His focus is on setting up corporate strategy and structure, operations and administration of the business, designing and overseeing construction of facilities and systems as well as creating strong relationships with financing partners and major vendors, with a cross-functional approach to innovation and performance. As the industry is evolving, he has spearheaded cannabis companies in several states including Rhode Island, Connecticut, Massachusetts, Ohio, and Hawaii amongst others. He is a sought-after speaker on the topics of the impact of 280E, the primary business management basics for the recreational market, and the evolution of the New England market.
We start by diving into some of the challenges you might not expect to face when you’re designing or updating your cannabis facility, that would be… taxes. We haven’t talked about 280E in awhile here on the show because the SAFE Banking Act has been stealing the show, but we circle back on this tax provision that is still very much impacting our industry even in the facilities design stage of the process. Since Jacques is working across various states, and each state has its own licensing process, some are medical only, some are adult-use only, some are both. We talk about and compare some of those differences from state to state from Jacques’s perspective