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TAXATION FOR CANNABIS INDUSTRY (IRC 280E, Types of Entities, Opportunity Zones, 199A, R&D Credit etc.)

4.5 (320)

Mike Goral


Monday, May 18, 2020 | 10:00 AM EDT

  • CPA
  • EA

1 Credit


Subject Area


Upcoming Webinars

Course Description

The sale and distribution of cannabis for recreational or medical use have become a powerful economic engine generating billions in annual revenue with 33 states and the District of Columbia having some form of legalization of the substance. Despite state relaxation of marijuana prohibition laws, without careful planning, the taxation of regulated marijuana businesses can result in hefty tax assessments and penalties.

Cannabis businesses are accounting for and reporting the results of their operations with gross receipts, cost of goods sold (COGS), and other deductions just like other for-profit businesses. However, as long as marijuana remains a Schedule 1 controlled substance under federal law, these businesses must navigate the pitfalls of complex federal and state tax rules.

This free webinar will discuss several aspects that affect the taxation of companies in the cannabis industry including :

  • Different types of entities to own a cannabis business
  • Federal, state and local taxes including IRC Sec.280E
  • Court cases as well as use of Opportunities Zones
  • Sec 199A
  • R&D credits and much more.

Recommended for professionals at all levels regardless of practice concentration or Industry, whose clients or company are venturing into the growing, selling, distribution of medical marijuana.

Learning Objectives

  • To learn about the current status of the regulated side of the cannabis industry.
  • To recognize the tax challenges applicable to the cannabis industry.
  • To recognize federal cannabis taxation requirements, reporting requirements, and the impact of federal taxation on a cannabis business
  • To get an overview of the Cannabis Tax court cases - Harborside Health Center Case, Alternative Health Care Advocates
  • To identify what's deductible & what's not deductible under IRC 280E

Who Should Attend?

  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Pros
  • Young CPA


    [no_of_record] => 320
    [average] => 4.4813