Convergence of Global Sustainability Standards Reinforces Importance of ESG InitiativesRead More
The Michigan Cannabis Regulatory Association has issued a bulletin announcing that it will begin releasing information on the new annual financial statement requirements in the coming weeks.
The bulletin was meant to allow medical and adult-use cannabis licensees to ensure their Accela Citizens Access Portal (ACA) contacts are accurate, as individual notices outlining specific requirements and AFS due dates will be emailed to the contacts(s) listed on the licensee’s entity record in the ACA Portal AND WILL NOT be sent to licensee supplemental contacts.
Licensees should review contacts for medical and adult-use entity records, and if updates are needed, the applicable form(s) must be completed to add, remove, or amend a record and emailed to CRAAmendments@michigan.gov by November 9, 2022.
The three forms can be found below:
It is imperative for licensees to review their information to ensure they receive the AFS notices and complete the necessary reporting requirements to avoid potentially heavy fines or other disciplinary action.
All licensees should contact the state to make sure no notices have already been sent out.
Our team of dedicated cannabis accounting specialists follows any and all updates from major regulatory bodies and reviews any legislation that may impact your business. We work hand in hand with your team to ensure that deadlines are met and your business remains compliant.
Fill out the form to speak with one of our cannabis professionals