Cannabis 2021: The State of Federal Tax Law Today Webcast [CAN]

Nov 5, 2021
Time: 12:30pm - 4:00pm



Credit Hours:



Member: $150.00
Non-member: $225.00

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Discussion Leader: Greg White, CPA

Website registration for this course closes on November 4, 2021. To register after this date please contact the society at or 907-562-4334.

Full Description

Cannabis 2021: The State of Federal Tax Law Today Webcast (CAN)

November 5th, 2021

Join Greg White, CPA for the latest updates on Federal Taxation of Legal Marijuana. This course has been updated for the Tax Cuts and Jobs Act of 2017. TCJA made a major change to the cannabis tax area. This course will also focus will be on recent cases and IRS administrative guidance; decreasing taxable income of legal marijuana growers, processors and retailers; methods for allocating deductions when a marijuana business and another business is operated by the same entity; and what costs may be capitalized by type of operation (i.e., grower vs. processor vs. retailer). We'll also discuss which types of entities work best for cannabis businesses.

Major Topics Covered:
- What major impact did the Tax Cuts and Jobs Act of 2017 have on the cannabis area?
- The 9th Circuit's Martin Olive decision.
- Recent tax court cases.
- Why C corporations should be used by retailers.
- Business entity choices.

Learning Objectives:
- Recognize recent developments.
- Identify useful tax planning ideas.
- Capitalizing costs to inventory.

Designed For: CPAs and CPA aspirants in public practice and tax staff in private practice.

CPE Credits: 4, Taxation

Level of Knowledge: Update

Prerequisite: Some knowledge of federal and state income taxes.

Acronym: CAN

Discussion Leader: Greg White, CPA