Tax Treatment of Cannabis Retailers And Manufacturers
As the number of states grow that legalize the sale of cannabis, taxpayers engaged in the production of and/or sales of cannabis products face challenging questions about the deductibility of the company’s business expenses. In this webinar, we introduce the underlying federal income tax treatment for retailers and manufacturers of cannabis products. Finally, we discuss the general reporting rules for deducting these business costs. Areas Covered An overview of the federal rules applicable to the Cannabis BusinessTax treatment of business expenses to cannabis retailersTax treatment of business expenses to cannabis manufacturersReporting requirements for these business expensesBrief discussion of the differences between the federal and state tax treatmentsWho Should Attend Tax preparers, CPAs, Accountants, Financial Planners, Consultants, and Personal Advisors.Why Should You Attend If you are a small business constant or a tax professionals providing tax services to taxpayers operating a retail or manufacturing cannabis business, you need to be aware of the tax rules associated with those two forms of business. Their rules are significantly different from other forms of businesses since federal law lists cannabis as an illegal controlled substance.
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As the number of states grow that legalize the sale of cannabis, taxpayers engaged in the production of and/or sales of cannabis products face challenging questions about the deductibility of the company’s business expenses. In this webinar, we introduce the underlying federal income tax treatment for retailers and manufacturers of cannabis products. Finally, we discuss the general reporting rules for deducting these business costs.
Areas Covered
- An overview of the federal rules applicable to the Cannabis Business
- Tax treatment of business expenses to cannabis retailers
- Tax treatment of business expenses to cannabis manufacturers
- Reporting requirements for these business expenses
- Brief discussion of the differences between the federal and state tax treatments
Who Should Attend
Tax preparers, CPAs, Accountants, Financial Planners, Consultants, and Personal Advisors.
Why Should You Attend
If you are a small business constant or a tax professionals providing tax services to taxpayers operating a retail or manufacturing cannabis business, you need to be aware of the tax rules associated with those two forms of business. Their rules are significantly different from other forms of businesses since federal law lists cannabis as an illegal controlled substance.