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Tax and Cannabis Attorney Jennifer Benda to speak at AICPA & CIMA Cannabis Industry Conference

AICPA & CIMA Cannabis Industry Conference

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A new learning experience covering the rapidly growing multi-billion-dollar Cannabis industry.

With more states across the US, and countries worldwide, legalizing this controlled substance for medical and recreational use, CPA’s will have more clients investing or expanding their business into this sector and need to be prepared for the complex ever-changing requirements.

Hall Estill Tax and Cannabis Attorney Jennifer Benda will speak at two sessions for the conference

CAN2106. Section 280E Disputes: When to Hold 'Em, When to Fold 'Em

This presentation will provide an overview of tax litigation involving IRS audits of cannabis companies and the application of Section 280E. The discussion will include cases defining trafficking, cases discussing separate trade or business issues, cases resulting in double taxation, the application of penalties to underpayments caused by the improper reporting of Section 280E, cases addressing inventory accounting (including the application of Section 471 and 263A), and constitutional arguments. The speaker will share her experiences with IRS audits and litigation of Section 280E issues.

CAN2112. Practical Impact of Section 280E Litigation on Structuring and Due Diligence

This panel will discuss resolved and unresolved Section 280E litigation, with a focus on how Section 280E litigation needs to be considered in due diligence, transactions, and tax reporting. After laying that groundwork, we will cover the pros and cons of common structures. This panel will also discuss the impact of cannabis industry regulatory compliance on structuring, transactions, and financial reporting.