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The Cannabis Industry: Taxes, IRS audits and Sec. 280E
Webcast

The Cannabis Industry: Taxes, IRS audits and Sec. 280E

Join industry experts Rachel Gillette and James Mann as they discuss the nuances of taxes, audits and Sec. 280E in the cannabis industry and how you can help prepare your clients for these complexities.

Do you have an AICPA or CIMA membership? Log in to apply your member discount.

Format

Webcast

NASBA Field of Study

Taxes

Level

Basic

CPE Credits

2

Instructor

James Mann, Rachel Gillette

Availability

3 months

Product Number

WC2206734

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 Business & partner 
Product Details

Understanding the complexities

Taxes and audits are a harsh reality for most companies, but for those businesses involved in the cannabis industry, they can be particularly brutal. Sec. 280E prohibits any deduction of a taxpayer's business expenses if the taxpayer's trade or business consists of trafficking controlled substances. This means you as a tax practitioner need to be at the top of your game in order to ensure proper tax compliance for your cannabis clients.

Join industry experts Rachel Gillette and James Mann as they discuss the nuances of taxes, audits and Sec. 280E in the cannabis industry. You'll also hear from the attorneys who are representing Harborside in the appeal of a Tax Court decision to the Ninth Circuit. This webcast is offering a full gamut of information involving the cannabis industry that you don't want to miss!

Who Will Benefit
  • CPAs, attorneys, and consultants serving clients in the cannabis industry
Key Topics
  • Internal revenue code Section 280E
  • Taxes and IRS audits on the cannabis industry
  • Current court case involving the cannabis industry
Learning Outcomes
  • Recall the nuances of taxes, IRS audits and Sec
  • 280E on the cannabis industry
  • Identify the status of a current court case involving the cannabis industry
  • Recognize how you as a tax advisor can help your clients better prepare for the complexities of taxes in the cannabis industry
More Details
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
None
Access
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
Duration
2
Pricing
Do you have an AICPA or CIMA membership? Log in to apply your member discount.

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2 to 5 registrants

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6+ registrants

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Contact us
Speakers
James Mann
Partner Greenspoon Marder James B. Mann is a partner with the Tax practice group of Greenspoon Marder LLP in New York. Mr. Mann has over 25 years of experience serving as a trusted advisor to a broad range of stakeholders in the financial services, real estate, and energy industries. He is advising a number of different cannabis companies on business and tax aspects of their operations, including representing Harborside in its appeal to the Ninth Circuit from the Tax Court. Mr. Mann graduated from Harvard Law School and also has an MBA from Columbia and a BA from Cornell. He was a Deputy Assistant Attorney General of the Tax Division of the Department of Justice in charge of federal appellate litigation. Mr. Mann was the North American Head of the Tax and Debt Advisory Group at Societe Generale and has also worked at Goldman Sachs and in private practice.
Rachel Gillette
Partner and Cannabis Practice Chair Greenspoon Marder Rachel Gillette is among the first attorneys in the nation to dedicate her practice to the cannabis industry. Since 2010, Ms. Gillette has helped marijuana/cannabis businesses with licensing and regulatory compliance, business law and transactions, contract drafting and review, tax litigation, corporate formation, and tax matters, including audit representation. She works with startups and entrepreneurs, investors, and ancillary industry businesses to help develop the cannabis innovation ecosystem, and is a zealous advocate for the industry. Ms. Gillette regularly represents clients before the IRS’s Examinations, Appeals, and Collections Divisions, including marijuana businesses facing the challenges of IRS adjustments under 280E. She has successfully protested local, state and federal tax deficiencies on behalf of her clients, having prevented hundreds of thousands of dollars in incorrectly assessed taxes, interest, and penalties.
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