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Cannabis Law Primer: CPA, Accounting, and Finance

Description

The number of emerging medical and recreational cannabis markets is increasing at a steady rate. This course will provide a comprehensive overview of cannabis-specific legal issues relevant to CPA and accounting professionals with a focus on the importance of mitigating the inherent legal and ethical implications of serving marijuana-related businesses. Discussion of the application of Section 280E on the CHAMPS case, as well as more recent federal case law, will provide an in-depth look at the challenges associated with serving cannabis industry clients.

Learning Objectives

 

  • Identify the unique federal tax-law provisions applicable to marijuana-related businesses
  • Calculate taxable income for marijuana-related businesses in accordance with the limits of IRS Tax Code Section 280E and deductions for “Cost of Goods Sold”
  • Recognize the legal and ethical implications of providing accounting and other financial services to cannabis industry clients in light of federal prohibition
Major Topics

 

  • Significance and application of IRS Tax Code Section 280E in light of developments in federal case law
  • Legally permissible application of “Cost of Goods Sold” deductions for purposes of calculating taxable income
  • Identifying “COGS” deductions for licensed retailers versus licensed growers/cultivators
  • Determining the legal and ethical constraints associated with serving marijuana-related businesses in light of federal prohibition
Provider
MACPA
Course Level
Basic
Professional Area of Focus
Business & Industry
Legislative & Regulatory
Practitioner
CPE Field of Study
Management Services
1
Who Should Attend

CPAs, accounting, finance professionals
Instructor(s)
Emily Burns
Prerequisites

None

Advanced Preparation

None

Location
Online
Event Information
When
Nov 3, 2022
9:00 am - 9:55 am EDT
Location
Online
Total CPE Credits
1
Format
Webcast Replay

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$40.00

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$65.00
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Cannabis Law Primer: CPA, Accounting, and Finance

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