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Taxation of Marijuana Sales - Prop 64 4173274C
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Dive deep to understand how the sale of marijuana is taxed for federal and state purposes. Learn how to advise a client in this business on choice of entity issues. Plus, review cost allocation tax provisions and understand how they apply to the sale of marijuana. Additionally, become familiar with the new California excise taxes imposed on retail sales and cultivation of marijuana at both the state and local levels.

11/10/2017
When: 9:30 AM to 1:00 PM
Where: Webinar/Webcast
United States
Presenter: Kathleen K. Wright, JD, LLM, CPA
Contact: April Deneault
801-466-10544


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Curriculums:   Business and Corporate Taxation,California State and Local Taxation,Financial Leadership Forum

NASBA Credit Category:  Taxes

CPE Hours:  4

Description

Dive deep to understand how the sale of marijuana is taxed for federal and state purposes. Learn how to advise a client in this business on choice of entity issues.  Plus, review cost allocation tax provisions and understand how they apply to the sale of marijuana. Additionally, become familiar with the new California excise taxes imposed on retail sales and cultivation of marijuana at both the state and local levels. If you're curious about what licensing requirements must be met by your client or are curious about how to navigate the ethical (both state and federal) issues that might apply to practitioners who advice clients in this business, register today.

Materials are provided as an ebook for this course.



Major Subjects

  • Taxation of marijuana sales (income and sales tax)
  • Determining choice of entity for your client.
  • Understanding licensing requirements.
  • Be familiar with ethical issues.

Objectives

  • Detemine how to advise clients who are considering getting into the sale of marijuana.
  • Identify the federal and state income and sales tax laws that apply to this business.
  • Recognize the licensing requirements that apply to your clients.
  • Determine how to handle the ethical issues involved in advising a client engaged in an illegal business (for federal purposes).

Level:  Update

Designed For

CPAs, attorneys and other professionals who advise clients engaged in the sale of marijuana. Also, industry executives who work for businesses that might be interested in getting into this new venture.

Advanced Prep:

None.

Prerequisite

None.

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