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ENGAGE 2020


CAN2005 - Regulatory View


Jun 9, 2020 11:15am ‐ Jun 9, 2020 12:30pm

Description

Part of the challenge in preparing to build a Cannabis practice/maintaining your practice is keeping up with the regulatory changes. Participants will review the current regulatory landscape at federal and state level as well as addressing some of the continuing issues regarding changes in tax and accounting rules.

Federal View:

  • where will the MORE Act go?
  • Review of the Controlled Substance designation
  • Review of key bills on the taxation/regulation of cannabis
    • H.R. 420
    • S. 420
    • S. 421
    • S. 422
  • Compliance with Form 8300 filings: Reporting Cash Payments Over $10,000
  • Deductions for Business Expenses Incurred Within the Cannabis Industry
  • Trade & Customs
  • Access to Banking Services

State View across key states:

  • Sales Tac vs Tax levy approach
  • Weight-Based Excise Taxes
  • Tax revenues across states
  • Excise Tax Comparisons Across States
  • Legal Status of Interstate Shipment of Cannabis
  • Earmarking revenue for public services

Tags: CAN
Category: Concurrent Session (Onsite and Online)

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