Picking a Cannabis Payroll and HR Provider
When you decide to choose a payroll provider for your cannabis business you must familiarize yourself with their compliance protocols and also ensure they have a firm graph of the current and changing regulations that involve the industry. Whatever payroll provider you decide to work with must be ready to provide documentation and reports at the drop of a hat in order to stay ahead of any audit or potential compliance protocols.
Never Pay ‘Under the Table’ in Cannabis
As a cannabis business, you must strive harder than others to legitimize your business and maintain transparency. It is imperative that you partner with a skilled payroll and HR consulting firm that specializes in the cannabis industry. Yes, you might feel desperate as you fail to secure a bank and you might be tempted to start paying your employees under the table using cash. However, if you decide to perform such a shady practice then it will only be a matter of time before you are fined by DOL. With a bit of diligence, you can find a respected cannabis payroll and HR provider.
What Does a Cannabis Payroll Provider Provide?
Even if you have not managed to establish your cannabis business with a bank, some payroll companies can still process the payroll without banking. Please remember, even if you fail to have a checking account for your business, you still must pay payroll taxes.
A cannabis payroll provider offers the following services:
●Management of employee forms
●Deals with direct deposits●Handle deductions
●Cope with wage garnishments
●File all necessary stateand federal payroll taxes
●Issue state-specific new hire reports
●Stay up to date on worker’s compensation
●Provide quarterly and online reports
●Regulate all employee access online
●Process necessary requests