Tax Treatment of Cannabis Retailers & Manufacturers in 2024-25 1.5 Credits
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Diving into the realm of cannabis taxation can feel like navigating a twisty labyrinth—especially for small business consultants and tax specialists. While an increasing number of states have embraced cannabis legalization with open arms, the harsh reality is that federal law still treats its sale as illegal. This creates a distinctive set of hurdles for those engaged in the production and sale of cannabis products. Grasping the tax rules governing these ventures is crucial for delivering insightful guidance to your clients. Are you prepared to unravel these complexities and help cannabis businesses flourish?
As the wave of cannabis legalization sweeps nationwide, consultants must remain vigilant about the intricate tax ramifications facing retailers and manufacturers. Taxpayers involved in these enterprises grapple with challenging questions about the deductibility of expenses and adherence to specific Internal Revenue Code regulations. Additionally, new ventures may wear two hats as retailers and manufacturers, adding another layer of intricacy to the mix.
Key topics covered:
By the conclusion of this course, you will confidently navigate the specific tax rules relevant to cannabis enterprises, including their reporting obligations and the disparities between federal and state tax treatments. Don’t let this golden opportunity slip away—expand your knowledge and enable your clients to thrive in this booming industry!
For more IRS Tax CE Courses, Click here.
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1735) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1735) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1735) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02149-24-S) | 1 CE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-02149-24-O) | 1 CE | Approved |
| Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-02149-24-O) | 1 CE | Approved |
| California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1735) | 1 CE | Approved |
| Taxes for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-02149-24-O) | 1 CE | Approved |
| Federal tax-related matters for LTC (Approval No. GEHNZ-T-02149-24-O) | 1 CE | Eligible |
| Taxes for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Taxes for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-02149-24-O) | 1 CE | Approved |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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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.
Need to meet your Enrolled Agent (EA) Continuing Education (CE) requirements? MYCPE ONE has you covered. Our Online EA CE courses make it easy to earn credits while expanding your expertise in tax regulations and practices. Stay ahead with the latest updates and in-depth insights designed to keep you at the top of your field. With flexible scheduling and a user-friendly platform, MYCPE ONE offers a convenient, interactive learning experience. Start advancing your career today!
Dr. Curatola is the Joseph F. Ford Professor of Accounting at Drexel University in Philadelphia. He is the Tax Column Editor for Strategic Finance since 1992. He has served as the editor of the Journal of Legal Tax Research and currently serves on the editorial review board of several journals, and has held a variety of leadership positions, including current national service with the Institute of Management Accountants. He has published over 250 articles in journals including Journal of Financial Services Professionals, Journal of the American Taxation Association, Journal of Forensic & Investigative Accounting, Oil, Gas, & Energy Quarterly, and Tax Notes to name a few. Dr. Curatola was a co-editor on IRA Answer Book by Wolters Kluwer and author of the EA Review course for Surgent Publishers. Dr. Curatola externally funded research findings have appeared in media such as Forbes Magazine, The Washington Post, The Wall Street Journal, The New York Times, and other media outlets.
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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.
SL
I appreciate the instructor's teaching style, and the information provided. This covered the course objectives and provided what I think of as a basic overview. After taking this class, I feel that I need further instruction to assist any taxpayer in the cannabis industry and that a workshop would be better for learning the material as it is complex. I actually look for this instructor when selecting my CE classes.
LL
This is a new area of info for me. Information was very informative. I expect sooner or later we will be dealing with clients who will need our expertise in this area.
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.webp "Annual Federal Tax Update - Individuals (Form 1040)")
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