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Medical

Marijuana
Insurance for

Physicians and
Dispensaries

It’s a common misconception that
legal marijuana dispensary insurance Back Cover Story: eXPO: Delivering Financial Services
is very expensive and unattainable, but
it is actually very reasonably priced.
We can provide you with many types in the Cannabis Space
of comprehensive insurance coverage
which will help your business stay on Continued from back page. impact allows the industry to flourish.” the bud tender scans a QR code provid-
its feet should some type of calamity or Financial institutions were provided According to Lipman, the advantages of ing the dispensary with credit to pay
unfortunate event arise. using a cashless system such as eXPO other business members or pay electron-
federal guidance on how to work with the
cannabis industry on February 14, 2014. credit is that it allows a complete date and ically their sales tax and other bills.
• General Liability time stamped system to provide auditabil- These payments are date and time
• Property Protection Yet, of the nearly 13,000 U.S. financial ity, compliance, reduction in public harm stamped to ensure true cost of goods in
• Medicine Coverage institutions, only 411 have registered with via theft, and a tax trail. accordance with permissible IRS280E
• Business Income the federal government to follow the guid- “Each business pays each other elec- tax write offs.
• Extra Expense Insurance ance of nearly 10 pages of filing Suspicious
• Product Liability Activity Reports (“SARS”) and more. tronically and non-members are paid via “eXPO also provides proof of funds
Lipman notes that cannabis companies eCHECK, ACH and wire,” he says. “The and escrow services for shipment and
Danna-Gracey is the leading indepen- are mandated by states to follow a seed to payment system is highly flexible and collection of highly valuable inventory,”
dent medical malpractice insurance sale tracking methodology and are disal- robust.” says Lipman.
agency in Florida, and the top agency lowed operating write offs under eXPO uniquely provides card process- Additionally, Lipman says that they
for several of the lead- IRS280E, putting them in a 70-90 per- ing and eCOMMERCE services without have identified that some cannabis busi-
ing insurers in Florida. the merchant needing to disguise their nesses were also playing music without
For more information cent tax bracket. business identity. paying music royalties.
contact Jessica Hoehn “eXPO provides financial tools with its All members are provided with the “Our music division, WeedStream, art-
of Danna-Gracey at membership that rejoins the member to complete set of financial tools. Starting fully integrates music and advertising of
888.496.0059. the economy; laser focused seed to sale
to accounting software that assists the in the dispensary, a financial center in-store products to produce revenue to
business and tax CPA to bring the business receives and remits cash and credit cards. the dispensary outside 280E,” he says.
back to a tax bracket most other business- The eXPO application in mobile or com-
es are in; and a complete financial system puter receives plastic cards and allows For more information, visit
that banks provide to non cannabis cus- eChecks, credit payment and ACH/wire. www.getexponow.com or write to
tomers,” says Lipman. “eXPO’s economic When consumers load their account, ett@getexponow.com.
888.496.0059 • Jessica@dannagracey.com
www.dannagracey.com

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40 September 2018 southfloridahospitalnews.com South Florida Hospital News