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Taxes and the Cannabis Industry

Course Price: N/A
CPE Credits
4
Advanced Preparation
None
Course Level
Intermediate
Prerequisite
Knowledge of Federal Tax Law
IRS CPE
4
NASBA CPE
4
CTEC CPE
4
Author
Nina Tross MBA, EA
Course Description

IRS: Federal Tax Law Topics 2 CPE/Federal Tax Law Update 2 CPE

CTEC: Tax Law 2 CPE/Tax Update 2 CPE

NASBA: Taxes 4 CPE

During this course we will cover the paradox of an illegal activity at the federal level and the ever-increasing number of states legalizing the sale of both medicinal and recreational drugs. We will look at the official IRS position on the business deductions allowable and filing of tax returns. From banking concerns to IRC Section 280E (which prohibits businesses from taking tax deductions or credits related to illegal activities), to state rules and regulations we will explore the challenges to the tax professional with clients in this industry. There is sufficient tax law to review that addresses the challenges of working in the industry and filing an accurate tax return.

Learning Objectives

At the completion of this course the tax professional will be able to:

  • Identify the tax regulations that impact the specific activities of a client in this industry
  • Prepare an accurate tax return based on the applicable code provisions and case law
  • Understand the risks in working with a client in this industry
  • Differentiate the tax filing for federal tax purposes and state requirements
FAQ

To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.

Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.

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Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.

Your certificate will be emailed to you within 10 business days of the completion of the course.

Administration:
Refunds
  • Once your registration confirmation is emailed, due to the proprietary materials and content of orders are NOT ELIGIBLE for refund, cancellation, or transfer to another NSTP course.
Disclaimer
  • materials and presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
  • Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual’s reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials, and during the seminar presentation, before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
  • materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
Testing Policy
  • require a test for CPE. 3 attempts are allowed.
  • You have 1 (one) year from date of purchase to complete the course by taking the test.
More Information For more information regarding refund, cancellation, and complaint policies, please contact our offices at 1(800) 367-8130.