Cannabis & Psychedelics Law Section
We are pleased to announce the next Cannabis and Psychedelics Law Section CLE:
Does Section 280E Still Disallow Cannabis Company Deductions?
Speaker: Nick Richards, Partner, Greenspoon Marder
Wednesday, November 13, 2024
Online Seminar
12:00pm-1:00pm
1.0 hour of general MCLE credit
Description: Please join us as we discuss the underpinnings of Section 280E and how it is currently functioning in our tax system. We will discuss the following: (i) the position that Gonzales v. Raich is no longer good law and Section 280E does not apply to the state-legal cannabis industry, (ii) an overview of the 471(c) accounting method and its intersection with Section 280E, and (iii) the possibility that past Section 280E costs may be deducted with rescheduling. As seen in some of the national cannabis trade publications (e.g., Opinion: Cannabis companies should try to claim 280E refunds (mjbizdaily.com)), multiple MSOs have filed amended returns for their cannabis business operations with the hope of obtaining 280E tax refunds. This webinar works to better understand those return/refund scenarios and how they might possibly apply to your clients’ cannabis businesses. Meanwhile, the Section 471(c) method has been in use for a few years and this webinar will discuss the mechanics of that method along with current developments.
Objectives:
- Understand the current battle to invalidate Section 280E with respect to the state-legal cannabis industry and how to protect your clients’ ability to benefit should it be successful.
- Understand the legal underpinnings of Section 471(c), how it is being used by the cannabis industry, and how it is viewed by the IRS.
- Understand the potential to recover past 280E costs after rescheduling.
To attend the online event, you must register by noon on Tuesday, November 12. The meeting link will be emailed to registrants prior to the event. For questions regarding the meeting link, please contact Kristin Stankiewicz.
$20 for Cannabis and Psychedelics Law Section members
$25 for non-members
Cancellation requests must be received by the OSB CLE Service Center no later than noon on November 12. Refunds are subject to a $10 cancellation fee. In-person and virtual registrations may be transferred. To cancel, please call the OSB CLE Service Center at (503) 431-6413, (800) 452-8260, ext. 413.
For registration questions, please contact the OSB CLE Service Center at (503) 431-6413, (800) 452-8260, ext. 413, or via email. |
