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.
Learning 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.
Major Topics
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.
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