skip to main content

Cannabis Companies Under Magnifying Glass as State Hires Industry Auditors

Cannabis Companies Under Magnifying Glass as State Hires Industry Auditors

The Connecticut Department of Revenue Services has hired five cannabis auditors as the state prepares to address cannabis taxation for the first year of licensed businesses.

Partner Bob Lickwar noted the decision not only enforces the state’s cannabis tax laws, but also helps cannabis companies ensure they’re collecting the correct amount and remitting it properly and on time. Most often, this means after the end of the month to which the tax applies, he said.

This approach can help companies avoid situations where they owe more than expected at the end of the year, and this can be especially true for cannabis businesses that are under greater regulatory scrutiny. “They’re hiring people number one for enforcement, but also number two, to get people through the process,” Lickwar said.


Read the full article published by the Hartford Business Journal.

Have a question?

Fill out the form to speak with Bob

Hide Firm Disclaimer


UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc., and its subsidiary entities. UHY Advisors, Inc.’s subsidiaries, including UHY Consulting, Inc., provide tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors” and “UHY Consulting”. UHY Advisors, Inc., and its subsidiary entities are not licensed CPA firms. UHY LLP, UHY Advisors, Inc. and UHY Consulting are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP, UHY Advisors and/or UHY Consulting (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

On this website, (i) the term "our firm", "we" and terms of similar import, denote the alternative practice structure conducted by UHY LLP and UHY Advisors, Inc. and its subsidiary entities, and (ii) the term "UHYI" denotes the UHY international network, in each case as more fully described in the preceding paragraph.