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Cannabis Taxes

The application of Internal Revenue Code Section 280E to cannabis is one of our firm’s main specializations with approximately 9 years of combined experience working with state-licensed cultivation, manufacturing, distribution, retail, and vertically integrated operations.  We work with industry leading tax attorneys, regularly review currently legislative updates and tax court decisions, and are uniquely qualified to prepare tax returns and other services to this industry including

Cannabis Processing, Manufacturing and Distribution
  • Tax-efficient entity selection and structuring
  • §280E analysis, compliance, & strategy in compliance federal and state regulations
  • Inventory & cost of goods sold calculations in compliance with IRC §471 for resellers & producers
  • Financial modeling & cash flow planning for cultivation, manufacturing, retail, and vertically integrated operations
  • Advisory services relating to cash handling practices, local & state taxation issues, and other industry specific matters
  • Audit support for federal & state examinations