Marijuana Tax Issues and Reporting Requirements

$219.00

SKU: 408387

Description

Gain a better understanding of current marijuana tax issues and reporting requirements.
The increasing legalization of recreational and medical marijuana at the state level while still considered an illegal controlled substance under federal law has created one of the most complex tax and compliance environments imaginable. This topic will provide you a comprehensive overview of the tax issues faced by legal marijuana businesses and their tax advisors.

Date: 2021-07-27 Start Time: 1:00 PM ET End Time: 2:40 PM ET

Learning Objectives

* You will be able to discuss status under federal and state law.

* You will be able to recognize federal income tax issues.

* You will be able to identify state tax issues.

* You will be able to review reporting requirements.

Overview
• The Industry
• Status Under Federal Law
• Status Under State Law

Federal Income Tax Issues
• Limitations of I.R.C. § 280E
• Determining Cost of Goods Sold
• Qualified Business Income Under I.R.C. § 199A
• Capitalizing on and Under I.R.C. § 263A

State Tax Issues
• State Taxes Imposed
• Conformity With I.R.C. § 280E

Reporting Requirements
• Form 8300
• Penalties

AIPB ,CLE (Please check the Detailed Credit Information page for states that have already been approved) ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Ariele R. Doolittle, Esq.-Hodgson Russ LLP