Marijuana Business Taxation: Watching Your Profits Go Up in Smoke
The Tax Section of the Colorado Bar Association
invites you to a presentation co- sponsored by the Tax and Cannabis Sections
Date:
Wednesday, April 13, 2022
12:00 p.m. - 1:00 p.m.
Via Zoom- Registration is required in order to be sent the meeting instructions.
Cost:
$10.00
“Marijuana Business Taxation: Watching Your Profits Go Up in Smoke”
The Federal tax rules that apply to marijuana businesses are unlike any other industry and they curtail profits dramatically. This seminar will provide an primer of Internal Revenue Code Section 280E which applies to businesses selling Schedule I or II controlled substances. Because the rules have not been well-defined in IRS guidance or Treasury regulations, the discussion will also cover IRS enforcement and court decisions discussing the application of Section 280E. There will also be a brief overview of other compliance issues, such Federal information reporting requirements, state income tax considerations, excise taxes, and sales tax rules.
Speaker:
Jennifer Benda
Applied for 1 CLE General Credit