March 23, 2022

Webcast Replay

1 Total CPE Credits

product-artwork-101806

Cannabis Law Primer: CPA, Accounting, and Finance

  • Instructor

    Emily Burns

The number of emerging medical and recreational cannabis markets is increasing at a steady rate. This course will provide a comprehensive overview of cannabis-specific legal issues relevant to CPA and accounting professionals with a focus on the importance of mitigating the inherent legal and ethical implications of serving marijuana-related businesses. Discussion of the application of Section 280E on the CHAMPS case, as well as more recent federal case law, will provide an in-depth look at the challenges associated with serving cannabis industry clients.

Learning Objectives

 

  • Identify the unique federal tax-law provisions applicable to marijuana-related businesses
  • Calculate taxable income for marijuana-related businesses in accordance with the limits of IRS Tax Code Section 280E and deductions for “Cost of Goods Sold”
  • Recognize the legal and ethical implications of providing accounting and other financial services to cannabis industry clients in light of federal prohibition

Major Topics

 

  • Significance and application of IRS Tax Code Section 280E in light of developments in federal case law
  • Legally permissible application of “Cost of Goods Sold” deductions for purposes of calculating taxable income
  • Identifying “COGS” deductions for licensed retailers versus licensed growers/cultivators
  • Determining the legal and ethical constraints associated with serving marijuana-related businesses in light of federal prohibition

CPE Credits Available

1
Total CPE
1
Management Services

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Business & Industry
  • Legislative & Regulatory
  • Practitioner

Prerequisites

None

Advanced Preparation

None

Intended Audience

CPAs, accounting, finance professionals

Provider

Business Learning Institute

This event has ended.