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TAX PLANNING AND COMPLIANCE

CANNABIS

Our dedicated team of seasoned professionals will help you navigate the ins and outs of a dynamic, evolving industry.

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How to Set Up a Cannabis Business for the Greatest Benefits

As of 2022, using marijuana for either recreational or medicinal purposes is legal in 39 states, and it has grown into a $61 billion business. But marijuana is still considered a Schedule 1 controlled substance by the federal government, and even legal states have several legal hoops to jump through to get into the industry.

Perhaps the biggest hurdle is a portion of the Internal Revenue Code (IRC) which dictates how businesses can deduct expenses. But a cannabis business, structured properly, can maximize its tax savings. That requires, however, some knowledge of the applicable IRS rules.

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CAPABILITIES

OVERVIEW AND EXPERIENCE

Cannabis Tax Planning & Compliance

  • Federal income tax planning and compliance
  • Business formation and entity structuring
  • State and local taxes and incentives
  • International tax planning and compliance
  • Transfer pricing
  • Cost segregation
  • Excise taxes
  • IRC 280E analysis
  • Estate and succession planning
  • Compensation and benefits

OUR PROFESSIONALS

ALI BAYDOUN

Partner, UHY LLP
Managing Director, UHY Advisors
Farmington Hills, Michigan

ALI BAYDOUN

Partner, UHY LLP
Managing Director, UHY Advisors

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TODD TIGGES

Partner, UHY LLP
Managing Director, UHY Advisors
Farmington Hills, Michigan

TODD TIGGES

Partner, UHY LLP
Managing Director, UHY Advisors

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ROBERT LICKWAR

Partner, UHY LLP
Managing Director, UHY Advisors
Farmington, Connecticut

ROBERT LICKWAR

Partner, UHY LLP
Managing Director, UHY Advisors

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LUCY LIU

Principal, UHY LLP
Orange County, California

LUCY LIU

Principal, UHY LLP

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COREY MASSELLA

Partner, UHY LLP
Managing Director, UHY Advisors
New York, New York

COREY MASSELLA

Partner, UHY LLP
Managing Director, UHY Advisors

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MATTHEW VANDERBECK

Partner, UHY LLP
Managing Director, UHY Advisors
Hudson, New York

MATTHEW VANDERBECK

Partner, UHY LLP
Managing Director, UHY Advisors

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BRADLEY CUMMINGS

Partner, UHY LLP
Managing Director, UHY Advisors
Catskill, New York

BRADLEY CUMMINGS

Partner, UHY LLP
Managing Director, UHY Advisors

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DANIEL ENSOR

Principal, UHY LLP
Salisbury, Maryland

DANIEL ENSOR

Principal, UHY LLP

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MARC LICHTMAN

Director of SEC and PCAOB Matters, UHY LLP
Farmington Hills, Michigan

MARC LICHTMAN

Director of SEC and PCAOB Matters, UHY LLP

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CANNABIS INSIGHTS

News
News
News

Cannabis Companies Under Magnifying Glass as State Hires Industry Auditors

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News
News
News

Effective Tax Rate on Cannabis Companies ‘Can Be Fatal’; Proposed Bill Would Offer Relief

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News

The Current State of 401(k) Plans for Cannabis Workers

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