U.S. Federal Income Taxation in the Cannabis Industry 2024

Tuesday, September 03, 2024

Webcast or Webinar, Online

1:00 PM - 2:00 PM (opens at 12:30PM) EST

1Credits

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$49.00 Regular Price

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$59.00 Regular Price

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Course Type: Webcast

Course Code: 24/2126613

Level: Overview

Vendor: California CPA Education Foundation

Field of Study: Taxes

Overview:

This course will provide a basic overview of federal tax rules and guidance that apply to Cannabis businesses, including Internal Revenue Code Section 280E, relevant court cases, the "separate trade or business" standard, and inventory accounting. It will also outline the unique tax situations and problems that commonly result from the combination of federal illegality and highly-regulates state law environment - especially in the context of mergers and acquisitions.

Objectives:

• Determine Federal tax guidance that applies to Cannabis businesses. • Recognize common tax problems encountered in the industry. • Identify how Cannabis companies can comply with available federal tax guidance.

Major Topics:

• Internal Revenue Code 280E basics • Inventory costing under Section 471 • Major course cases and other guidance • M&A in the Cannabis industry

Major Topics:

• Internal Revenue Code 280E basics • Inventory costing under Section 471 • Major course cases and other guidance • M&A in the Cannabis industry

Designed For:

CPAs, Attorneys, Enrolled Agents, Financial Professionals, and anyone interested in the fundamentals of this industry.

Prerequisites:

None