Taxation of the Cannabis Industry

Overview

This course provides a comprehensive analysis of the taxation issues affecting the cannabis industry. It covers the historical context of U.S. taxation, the distinctions between industrial hemp and marijuana, and the specific tax codes and regulations that apply to the cannabis business. Participants will gain insights into state marijuana laws, the unique challenges of a cash-intensive industry, and pertinent federal court cases.

*Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Highlights

• Historical context of U.S. taxation
• 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, and financial professionals

Objectives

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

Preparation

None