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INDUSTRIES

TAX PLANNING AND COMPLIANCE

CANNABIS

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

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

Principal, UHY Advisors
Farmington Hills, Michigan

ALI BAYDOUN

Principal, UHY Advisors

ROBERT LICKWAR

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

ROBERT LICKWAR

Partner, UHY LLP
Managing Director, UHY Advisors

TODD TIGGES

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

TODD TIGGES

Partner, UHY LLP
Managing Director, UHY Advisors

MATTHEW VANDERBECK

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

MATTHEW VANDERBECK

Partner, UHY LLP
Managing Director, UHY Advisors

LUCY LIU

Principal, UHY LLP
Orange County, California

LUCY LIU

Principal, UHY LLP

COREY MASSELLA

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

COREY MASSELLA

Partner, UHY LLP
Managing Director, UHY Advisors

MARC LICHTMAN

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

MARC LICHTMAN

Director of SEC and PCAOB Matters, UHY LLP

BRADLEY CUMMINGS

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

BRADLEY CUMMINGS

Partner, UHY LLP
Managing Director, UHY Advisors

DANIEL ENSOR

Principal, UHY LLP
Salisbury, Maryland

DANIEL ENSOR

Principal, UHY LLP

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