Taxation of the Cannabis Industry
Overview
This course offers a comprehensive exploration of the cannabis industry, delving into essential topics such as cannabis regulations, business models, financial management, and ethical considerations. A key focus is on distinguishing between Marijuana and Industrial Hemp, including their respective tax treatments. Participants will gain a thorough understanding of the unique challenges and opportunities within the cannabis sector, covering federal and state tax implications, licensing requirements, and market trends.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights
The major topics that will be covered in this course include:
- Industrial hemp vs. marijuana.
- Income definitions under I.R.C. §61.
- Tax code restrictions: §280E and §471.
- State-specific marijuana laws.
- Cash management in cannabis businesses.
- Federal court case analysis.
Prerequisites
None
Designed For
CPAs, EAs, Tax Professionals, Financial Planners, Investment Advisors, Financial Professionals
Objectives
After attending this presentation, you will be able to...
- Recall the historical view of U.S. taxation.
- Distinguish between industrial hemp and marijuana.
- Recall the definition of income as defined by I.R.C. §61.
- Apply the restrictions and limitations of §280E and §471.
- Examine state marijuana laws.
- Recognize the challenges of a cash-intensive business.
- Analyze relevant federal court cases.
Preparation
None
Notice
Email w/link to webinar & materials will come from webinars@cpacrossings.com. If you do not receive email, check junk folder then contact CPA Crossings @ 877-370-2220 ext 1/webinars@cpacrossings.com
Leader(s):
Leader Bios
Mary Jane Hourani, Werner-Rocca Seminars Ltd
Mary Jane Hourani has been a dedicated practitioner in the tax accounting field since 1993, beginning her career with prominent Tax, Accounting, & Audit Firms before establishing her own practice in 2005. Her academic credentials include a Master of Management from Walsh College of Accountancy and Business Administration, complemented by a Bachelor of Science in Public Administration from Eastern Michigan University, with a specialization in Organizational Development and Governmental Accounting. As an Internal Revenue Service Enrolled Agent, Mary Jane is authorized to represent clients before the IRS, a testament to her expertise and integrity in the field. This designation is accompanied by her status as a NTPI Fellow with the National Association of Enrolled Agents, underscoring her commitment to the highest standards of professional excellence. Mary Jane has also contributed significantly to education in her field, serving as an Instructor of Tax at Michigan State University Tax School since 2008 and engaging as a speaker for various trade organizations from 2005. Her role as a Contributing Editor and Author for the National Tax Workbook since 2009 highlights her as a valuable resource in tax education, where she has developed and compiled tax course packs for Michigan State University Tax School and other organizations. In addition to her instructional roles, Mary Jane is a former H&R Block Instructor/Trainer, further showcasing her breadth of experience and dedication to fostering knowledge in others. Her professional affiliations include membership in the National Association of Enrolled Agents, Michigan Association of Certified Public Accountants, National Association of Tax Professionals, and the American Institute of Professional Bookkeepers. Moreover, her certification as a QuickBooks ProAdvisor signifies her expertise in financial software, enhancing her ability to serve her clients comprehensively.
Non-Member Price $129.00
Member Price $109.00