Tax Traps and Tips for Cannabusinesses

Presented by: 

Jeremy M. Vaida

Associate - Stein Sperling

Program Description

Tax considerations, often vexing and unwieldy for ordinary businesses, can be the difference between profitability and bankruptcy for those engaging in the growth, production or retail sale of medical cannabis.  Due to disparities between federal and state law, along with the Internal Revenue Code's historically punitive tax treatment of "traffickers in controlled substances," cannabusinesses face unique hurdles not present in other industries.  With careful planning and effective counsel, however, cannabusinesses can largely mitigate the Tax Code's most burdensome provisions and set themselves up for durable success.

Learning Objectives

• Identify the most pressing tax concerns facing cannabusinesses today
• Provide an overview of the planning mechanisms used to mitigate the impact of IRC 280E

Date & Time

Tuesday, November 21, 2017                                                                

2:00 p.m. - 3:00 p.m. Eastern (11:00 a.m PT)

Education

NASBA-approved for 1.0 CPE credit in Tax; 1.0 (M)CLE credit*
 

Cost

Education Credit*: AAA-CPA Members $15.00; Non-Members $30.00

Non-Education Credit (Listen-Only): AAA-CPA Members: FREE; Non-Members $25.00 

Registration  

The webinar information and materials for the program will be sent via email one day prior to the program

Requests for refunds must be received in writing by November 17, 2017 and will be subject to a $5.00 cancellation/administration fee. For information on the cancelation policies, please contact our office at 888-ATTY-CPA.

Additional Information

Delivery Method: Group-Live

Program Level: Update

Prerequisites: None

Advanced Preparation: None

Who Should Attend? Attorneys, CPAs, Business Professionals

About the Presenter

Jeremy Vaida's thoroughness and ability to take complex ideas and distill them into manageable and understandable concepts ensures that his clients are well-informed on complicated tax matters. He enjoys delving into sophisticated tax law cases and becoming well-versed in knotty legal or factual issues. Jeremy's practice focuses on federal and state tax controversy matters as well as tax planning for  business transactions. Additionally, Jeremy is well-versed in tax and business law as it relates to the emerging medical marijuana industry in Maryland and elsewhere, including, but not limited to, Section 280E planning, managing audit risk and ethical considerations for accounting and legal professionals. Prior to joining Stein Sperling, Jeremy served for nearly 3 years as a Deputy Attorney General for the State of New Jersey's Tax, Bankruptcy and Debt Recovery Section. There, he litigated dozens of cases before the Tax Court of New Jersey in all manner of state taxes, including sales and use tax, gross income tax, corporate business tax, inheritance and estate tax, as well as cigarette and other excise taxes.  Common issues included credits for taxes paid to other states, corporate nexus, estate property valuation, trust fund tax liabilities with responsible person determinations, and homestead property tax rebates. Jeremy also argued tax issues in New Jersey's appellate court. In addition to his role as a tax litigator, Jeremy provided counsel to the Division of Revenue and Enterprise Services, New Jersey's non-tax debt collector, interpreting incorporation, partnership and LLC statutes, reviewing memoranda of understanding and other legal documents and contributed to the strategic planning of the Division of Revenue. 

AAA-CPA continuing education programs are designed to meet the needs of Attorneys and CPAs and to qualify for credit both as CPE and CLE. Of course, the decisions of various state authorities determine the actual credit granted. There are no prerequisites or advance preparation requirements for this course. The American Academy of Attorney-Certified Public Accountants, Inc. (AAA-CPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasba.org. *(M)CLE varies by state. Though we are accredited for (M)CLE in PA they will not accept Study Groups for credit. If you require (M)CLE in a specific state, please send a request to studygroups@attorney-cpa.com and we will do our best to arrange for credit. Please note that most state bars will accept our Certificates of Attendance sent in by the attorney and NOT charge a fee. A general Certificate of Attendance will be made available for those professionals who feel the program satisfies their continuing education requirements and are able to self-file. It is the responsibility of the attendee to determine whether their state, discipline, or designation will allow one to self-file for a distance-learning program.