There are still many questions on how the cannabis industry in Connecticut will progress. From establishing a business plan to choosing the ideal entity structure, cannabis businesses have a lot of decisions to make once the lottery begins to select applicants. During the Hartford Business Journal’s The Business of Cannabis event, Partner Bob Lickwar shared his tax expertise during his moderation of "The Challenges and Opportunities Recreational Marijuana Legalization Creates in CT" panel.
The panel discussed how companies can establish business plans, set up tax efficient structures and start tax planning to maximize deductions. The panel featured the CEO of the Credit Union League of Connecticut, a lawyer from MacDermid Reynolds & Glissman, the principal attorney from the Connecticut Labor Department, and the COO of a burgeoning cannabis company, Fine Fettle.
It’s certainly an exciting time as the state begins to map out how it will address the cannabis industry, and business owners need a team behind them who can support their business through the regulatory uncertainty. UHY is well-positioned to be at the forefront, and our cannabis team has experience helping cannabis companies thrive by taking advantage of deductions and tax efficient business strategies.