Champion Cannabis Resource

Champion Resource Partners (CRP) is a full-service accounting, compliance and payments processing firm. Founded by seasoned accounting and legal professionals, CRP advocates that cannabis companies mitigate their federal legal risk in addition to following the California rules.

‍We believe companies should plan for full normalization by implementing and operating an optimal structure with good financial and accounting processes, legal compliance, optimized payments, and minimized taxes. By implementing such optimal operations, a cannabis company will be able to fully participate in the anticipated acquisitions gold rush should the U.S. follows Canada into full normalization.

‍Cannabis is still illegal under Federal Law: CRP designs and monitors compliance programs to reduce legal risk by following DOJ guidances, like the Cole Memo.

‍Mishandling Cannabis business proceeds can lead to claims of money laundering: CRP designs and provides guidance to avoid Federal money laundering traps and “structuring” that give rise to civil asset seizures. We monitor and design compliance programs following the Financial Crimes Enforcement Network (FinCen) guidance.

Cannabis business proceeds can give rise to punishing tax liability: Section 280E of the Internal Revenue Code denies the deduction for operating expenses for the Cannabis industry. However, companies can deduct their cost of goods sold.

Your business structure and how you maintain your financial books drive your income tax liability.

‍Cannabis Companies are excluded from most payment systems: Cash management creates a myriad of issues. Until full normalization, large banks and credit card companies will exclude Cannabis customers. CRP designs and runs innovative electronic payment solutions to reduce cash volume, and burden and risk of handling cash.

‍Full Normalization will bring a rush of acquisitions: If the U.S. normalizes cannabis like Canada, there will be an acquisition gold rush. Don't get left behind. Only companies that can survive a large corporate due diligence audit will benefit. With CRP, your compliance, books, and records will be ready so that you will be ready to get top dollar at an exit sale. This requires expert planning.

‍Partner with us to reduce risk, uncertainty, and cost. Scale your business faster with our leveraged resources, and have confidence in the future of your business for our predictable monthly fee.

‍Run your company and leave the numbers to a Champion!!

Make an appointment with us today.