Cannabis Tax Reform Bill in California 1 Credit
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The California cannabis system is a nationwide mockery and a public policy lesson in what not to do. The opportunity to create a robust legal market has been squandered as a result of excessive taxation. The cultivation tax undermines the viability and sustainability of California’s cannabis industry, being the only agricultural product in the world that is taxed at the farm.
As a result, consumers can buy cannabis products for less than half the cost from non-licensed vendors compared to similar products purchased in licensed retail dispensaries. The illicit market in California is much larger than the legal market. Licensed cultivators, manufacturers, distributors, and retailers are struggling to compete with their non-licensed counterparts.
The new cannabis tax reform bill in California discontinued the cultivation tax. It imposes an excise tax on purchasers at a rate of 5%. and requires the retailer to collect the tax from the consumer and remit it to the state.
Join this Online CE/CPE Tax webinar to understand the new Cannabis Tax Reform Bill of California i.e. Senate Bill 1281.
Key Topics Covered:Â
Here is the link to your interests: IRS Approved CE Webinars I CTEC Approved CE Courses
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01194-22-S) | 1 CE | Approved |
| Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-01194-22-S) | 1 CE | Approved |
| Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0987) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01194-22-S) | 1 CE | Approved |
| Federal Tax Law Update for LTC (Approval No. GEHNZ-U-01194-22-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01194-22-S) | 1 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Federal Tax Law Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-01194-22-O) | 1 CE | Approved |
| Federal Tax Law Update for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-U-01194-22-O) | 1 CE | Approved |
| Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0987) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Federal Tax Law Update for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-01194-22-O) | 1 CE | Approved |
| Federal Tax Law Update for LTC (Approval No. GEHNZ-U-01194-22-O) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Federal Tax Law Update for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-01194-22-O) | 1 CE | Approved |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
Credit
1
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.
I take a personal interest in my clients and specialize in helping them find solutions to all of their business and individual needs. This means that my clients trust me on a wide range of legal and financial issues that affect their daily lives.
After an early career as a professional pianist, I began to do Tax Preparation for myself and my fellow musicians. This experience is one component of my ongoing practice of providing legal representation to individuals in contracts. I also saw the necessity of protecting assets through Wills, Trusts, and Estate Planning.
In addition to my tax and legal expertise, I have ten years of experience as a Special Education Teacher with NYC Teaching Fellows. Because of this, I have seen firsthand the importance of providing legal representation for those with special needs. The problems faced by these individuals are not abstract concepts to me.
I am a graduate of Brooklyn Law School with a Certificate in Intellectual Property, Media, and Information Law. While in law school, I won the Center for Urban Business Entrepreneurship (CUBE) competition for an app design to help Indie Filmmakers in developing contracts. Additionally, I won Regional Law School Mediation competition. This award alone is indicative of my ability to find solutions.
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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
What are the requirements to maintain compliance with live webinar courses?
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
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After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
How are credits reported to governing bodies?
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
MH
I knew very little about Ca cannabis tax laws. This was an eye-opener. Even though I may never get involved with a cannabis related tax return, just having the knowledge this course provided gives makes me a better-informed tax preparer. Thank you, Paula Collins.
MB
This was a complex topic that Paula was able to explain very well. The problem example really highlighted how the various taxes compounded the price of the product so much that almost anyone would turn to the cheaper unlicensed sellers.
.webp "Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)")
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