For licensed Illinois cannabis businesses only
Cannabis CPA Illinois — Accounting Built for the Industry
Talk directly with someone who works Illinois cannabis books every day — not a call center.
We're an accounting and advisory firm working exclusively with licensed cannabis operators from Chicago to Springfield to Rockford: 280E tax strategy, BioTrack-reconciled bookkeeping, CFO advisory and audit defense, handled by people who don't split their attention with other industries.
- Who we serve
- Cannabis licensees, exclusively
- Reach
- Statewide — every Illinois license type
- Approach
- Inventory-first books, documented positions
2026 Advisory
Rethinking Entity Structure Under Schedule III
With medical cannabis reclassified to Schedule III federally, IRC Section 280E no longer applies to licensed medical operations. We're currently rebuilding expense allocation methods and entity structures for dual-licensed Illinois operators so they can claim ordinary business deductions that were off-limits until now, ahead of the coming state and federal filing deadlines.
See our 280E restructuring approachIndustries served
A different accounting problem for every Illinois license type
Dispensaries
High-volume retail with real cash exposure and the tightest COGS profile 280E allows.
Cultivators
Long growth cycles, heavy indirect cost, and the most favorable inventory capitalization rules in the industry.
Manufacturers
Extraction and infusion economics where yield allocation, not the price sheet, sets your real margin.
Processors
Trim, dry and pre-roll operations where the ownership of the material shapes the whole accounting model.
Transporting Organizations
Logistics operations running on thin fee margins and heavy receivables and manifest exposure.
Pickup & Order-Ahead
A delivery-free market where curbside and order-ahead economics decide whether the channel earns its keep.
Testing Laboratories
A capital-heavy service business with a tax profile that looks nothing like a plant-touching licensee's.
Cannabis Brands
Asset-light operators whose spending sits almost entirely in the categories 280E won't allow.
Ancillary Businesses
Non-plant-touching companies serving the industry, generally outside 280E's reach.
Multi-State Operators
Consolidated groups that need one close process, disciplined intercompany policy, and coordinated state tax.
Core practice areas
The areas where Illinois operators most often overpay
Each practice area has its own page walking through our methodology, the paper trail we build and the questions operators bring us most.
- Tax
280E Tax Compliance
Inventory-first COGS positions, 471/263A capitalization and ongoing tax planning that hold up under IRC 280E.
Read more - Accounting
Dispensary Accounting
Daily close discipline, POS-to-ledger tie-outs, cash controls and margin visibility built for Illinois dispensing organizations.
Read more - Accounting
Cultivation Accounting
Cost-per-pound tracking, batch costing and inventory capitalization built for licensed Illinois cultivation centers and craft growers.
Read more - Tax
Cannabis Tax Preparation
Federal and Illinois returns built from reconciled books, backed by a documented, defensible tax position.
Read more - Advisory
Fractional CFO
Senior finance leadership on a fractional basis: forecasting, unit economics, capital readiness and board-level reporting.
Read more - Compliance
BioTrack Reconciliation
Track-and-trace-to-ledger reconciliation that catches inventory variances before they turn into compliance findings.
Read more - Tax
Audit Representation
IRS and IDOR examination defense for cannabis operators, from the first notice through appeals.
Read more - Accounting
Manufacturing Accounting
Standard costing, yield tracking and inventory capitalization for Illinois infuser and craft grower manufacturing operations.
Read more
Technical grounding
What this practice is built to know cold
Illinois cannabis accounting sits at the intersection of a punitive federal tax code, a state track-and-trace mandate, and a business that still runs largely on cash. These are the topics that decide whether an operator holds onto its margin.
Browse the resource library- IRC Section 280E
- BioTrack track-and-trace
- Cost of goods sold
- Inventory accounting
- Excise & Cultivation Privilege Tax
- Financial reporting
- Cannabis payroll
- Entity selection
- IRS & IDOR audits
- Cash-intensive operations
- Internal controls
- Social Equity licensing
- Business scaling
- Financial forecasting
- Cannabis banking access
Full service list
Every service we provide licensed Illinois operators
- 280E Tax ComplianceInventory-first COGS positions, 471/263A capitalization and ongoing tax planning that hold up under IRC 280E.
- Dispensary AccountingDaily close discipline, POS-to-ledger tie-outs, cash controls and margin visibility built for Illinois dispensing organizations.
- Cultivation AccountingCost-per-pound tracking, batch costing and inventory capitalization built for licensed Illinois cultivation centers and craft growers.
- Cannabis Tax PreparationFederal and Illinois returns built from reconciled books, backed by a documented, defensible tax position.
- Fractional CFOSenior finance leadership on a fractional basis: forecasting, unit economics, capital readiness and board-level reporting.
- BioTrack ReconciliationTrack-and-trace-to-ledger reconciliation that catches inventory variances before they turn into compliance findings.
- Audit RepresentationIRS and IDOR examination defense for cannabis operators, from the first notice through appeals.
- Cannabis BookkeepingMonthly close, a cannabis-specific chart of accounts, and clean books that a real tax position can be built on.
- Financial ReportingGAAP-aligned statements, investor reporting packages and KPI dashboards built for licensed Illinois operators.
- Sales & Excise Tax ComplianceIDOR excise and sales tax filings, MCROT local cannabis tax, and a compliance calendar that doesn't slip.
- Cannabis PayrollCompliant payroll processing with labor cost allocation built to support inventory capitalization.
- Entity StructuringEntity selection and multi-company structure designed around 280E, licensing rules, liability and eventual exit.
- Cash Flow PlanningThirteen-week cash forecasting, tax funding and working capital management for cash-heavy operators.
- Business AdvisoryExpansion analysis, licensing economics, transaction support and internal controls for scaling operators.
- Manufacturing AccountingStandard costing, yield tracking and inventory capitalization for Illinois infuser and craft grower manufacturing operations.
Resource library
Guides written for Illinois cannabis finance teams
- Tax Law 9 min read
280E Explained
Why a two-sentence tax provision from 1982 determines the economics of every licensed cannabis business in Illinois — and what lawfully reduces its impact.
- Accounting 10 min read
Cannabis Accounting Guide
How to build an accounting function that supports compliance, tax strategy and real operating decisions in a licensed Illinois cannabis business.
- Accounting 8 min read
Cannabis Bookkeeping Guide
The daily, weekly and monthly bookkeeping routines that keep a licensed Illinois cannabis business audit-ready and decision-ready.
- Compliance 8 min read
BioTrack Guide
An accounting-focused guide to Illinois' BioTrack track-and-trace system and how its data ties to inventory, COGS and the general ledger.
- Advisory 8 min read
Cannabis CFO Guide
How financial leadership differs in a 280E business, and what an Illinois operator should expect from CFO-level support.
- Retail 8 min read
Dispensary Accounting Guide
A working guide to the retail-specific accounting routines that keep an Illinois dispensing organization compliant and profitable.
Questions
What Illinois cannabis operators ask us first
Consultation
Speak with an Illinois cannabis CPA
Bring your license types, current books and open deadlines. We will tell you what needs to happen first and in what order.