Despite an ever-increasing number of states moving to legalize recreational cannabis, the rules surrounding these business entities are often in question as states test and adjust regulatory models. While much of the Northeast is awaiting some additional regulatory clarity, we can draw upon those lessons learned from established cannabis markets in other states.
Our cannabis professionals have been at the forefront of the industry and came together for a roundtable to discuss:
Ali Baydoun | Principal | UHY LLP
Ali Baydoun is a leader of the national cannabis practice, with experience providing advisory, tax, and attest services for middle-market clients. He leads a team of professionals specializing in the cannabis industry to assist business owners in every step of the process of running a successful cannabis operation. His team provides a wide range of cannabis accounting services such as, business formation and entity structuring, annual financial statements, IRC 280E analysis, financial forecasts and projections and much more. Ali is called upon regularly to present on important tax planning topics at several firm events, especially during periods of tax reform.
Robert Lickwar | Partner | UHY LLP
Robert Lickwar has more than thirty years of experience as a practicing CPA, working exclusively with privately held businesses and owners to provide compliance services and sophisticated tax planning strategies. He leads the cannabis practice in Connecticut and is familiar with a wide range of cannabis accounting services such as tax planning and tax return preparation in compliance with IRC 280E. Bob has extensive experience on the taxation of small businesses and their owners, including advising businesses on the establishment of tax-efficient structures. Bob is a nationally recognized presenter on various tax issues, and a well-known discussion leader, providing small business seminars and a frequent tax expert guest for a local radio station.
Todd Tigges | Partner | UHY LLP
Todd Tigges is the leader of the firm’s national cannabis practice and a leader in the Great Lakes tax practice. He practices before the IRS, managing tax audits, appeals, and abatement requests, and has specialized knowledge in IRC 280E. He leads a team of professionals specializing in the cannabis industry to assist business owners in every step of the process of running a successful cannabis operation. His team provides a wide range of cannabis accounting services such as, business formation and entity structuring, agreed upon procedure reports, IRC 280E analysis, financial forecasts and projections, management and assertion testing and much more.
Matthew VanDerbeck | Partner | UHY LLP
Matthew VanDerbeck has more than two decades of experience in accounting and auditing, with extensive experience in privately held for-profit industries. He is serving as one of the leading partners for the cannabis practice in New York, with extensive experience advising businesses on achieving and maintaining their compliance with state and federal regulations. Matt has been a speaker on issues relating to the cannabis industry, including banking regulations and start-up costs and resources. His articles have been featured in multiple publications.