Taxation of the Cannabis Industry

Overview

This course offers a comprehensive exploration of the cannabis industry, delving into essential topics such as cannabis regulations, business models, financial management, and ethical considerations. A key focus is on distinguishing between Marijuana and Industrial Hemp, including their respective tax treatments. Participants will gain a thorough understanding of the unique challenges and opportunities within the cannabis sector, covering federal and state tax implications, licensing requirements, and market trends.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this course include:

• Industrial hemp vs. marijuana.
• Income definitions under I.R.C. §61.
• Tax code restrictions: §280E and §471.
• State-specific marijuana laws.
• Cash management in cannabis businesses.
• Federal court case analysis.

Prerequisites

None

Designed For

CPAs, EAs, Tax Professionals, Financial Planners, Investment Advisors, Financial Professionals

Objectives

After attending this presentation, you will be able to...

• Recall the historical view of U.S. taxation.
• Distinguish between industrial hemp and marijuana.
• Recall the definition of income as defined by I.R.C. §61.
• Apply the restrictions and limitations of §280E and §471.
• Examine state marijuana laws.
• Recognize the challenges of a cash-intensive business.
• Analyze relevant federal court cases.

Preparation

None

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by CPA Crossings.