Nov

    The Tax Consequences of the Legalization of Marijuana

    1 PM GMT

    Federal law makes the distribution of marijuana a crime. Some state laws say otherwise. The convergence of federal and state law in the world of the legalization of marijuana has raised interesting tax and compliance issues. Topics to be discussed include whether banks can engage in financial transactions with marijuana dispensaries, what cash and SAR reporting obligations are there for dispensaries and the nontraditional banks they engage with, and how are the IRS / dispensaries reacting to the Tax Court decisions disallowing a dispensary’s tax deductions for operating expenses under IRC § 280E (citing the illegality of trafficking in a controlled substance). The panel will also discuss whether those in the marijuana dispensary business owners need to file 5th Amendment tax returns when reporting their income to the IRS.

    Featured Speakers

    Jeffrey A. Neiman, Marcus Neiman & Rashbaum LLP, Ft. Lauderdale, FL

    Nina Marino, Kaplan Marino, Beverly Hills, CA

    William E. Taggart, Jr., Oakland, CA

    PLEASE NOTE: To receive CLE credit you must be logged into the webinar for the ENTIRE program (including the Q&A). Partial credit is not available for this program. Please see the CLE Informaton page for more details.

    Registration Fees
    FEES*
    $125 Section of Taxation Members
    $150 All other ABA Members
    $125 Young Lawyers
    $125 Government / Academic / Non-Profit
    $195 All other registrants
    $75 Additional registrants (using the same phone line)
    FREE Full-time J.D., LL.M., or M.T. Candidates (No CLE Credit/Webcast Only)
    FREE Press
    *Fee includes an mp3 audio recording that is available within one week following the program date.

    $195
    NON-MEMBERS
    $150
    MEMBERS
    $125
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    The Tax Consequences of the Legalization of Marijuana

    Event Details

    Format

    Web

    Date

    Nov 19, 2014

    2014-11-19T13:00:00 2014-11-19T14:35:00 The Tax Consequences of the Legalization of Marijuana

    Federal law makes the distribution of marijuana a crime. Some state laws say otherwise. The convergence of federal and state law in the world of the legalization of marijuana has raised interesting tax and compliance issues. Topics to be discussed include whether banks can engage in financial transactions with marijuana dispensaries, what cash and SAR reporting obligations are there for dispensaries and the nontraditional banks they engage with, and how are the IRS / dispensaries reacting to the Tax Court decisions disallowing a dispensary’s tax deductions for operating expenses under IRC § 280E (citing the illegality of trafficking in a controlled substance). The panel will also discuss whether those in the marijuana dispensary business owners need to file 5th Amendment tax returns when reporting their income to the IRS.

    Featured Speakers

    Jeffrey A. Neiman, Marcus Neiman & Rashbaum LLP, Ft. Lauderdale, FL

    Nina Marino, Kaplan Marino, Beverly Hills, CA

    William E. Taggart, Jr., Oakland, CA

    PLEASE NOTE: To receive CLE credit you must be logged into the webinar for the ENTIRE program (including the Q&A). Partial credit is not available for this program. Please see the CLE Informaton page for more details.

    Registration Fees
    FEES*
    $125 Section of Taxation Members
    $150 All other ABA Members
    $125 Young Lawyers
    $125 Government / Academic / Non-Profit
    $195 All other registrants
    $75 Additional registrants (using the same phone line)
    FREE Full-time J.D., LL.M., or M.T. Candidates (No CLE Credit/Webcast Only)
    FREE Press
    *Fee includes an mp3 audio recording that is available within one week following the program date.

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