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Partner Nick Richards will be presenting a course titled “Legalized Cannabis: Federal and State Compliance, Entity Selection, Taxation, and Ethics” through the Clear Law Institute online webinar program on January 9, 2018.

This practical webinar provides an overview and specific detailed discussions for attorneys and accountants advising cannabis businesses and representing them before the IRS and state departments of revenue. You will learn the core principals governing the Federal response to state-legalized cannabis, the impact and effect of IRC Section 280E on cannabis business expenses and profits, the essential accounting methods and business structures necessary to manage Section 280E, and the banking and cash reporting requirements in the cannabis industry. Upon completion of this course you will be able to:

  • Understand the Cole Memo requirements for compliant cannabis businesses and banking
  • Identify the “280E Footprint” in cultivation, manufacturing, distribution, and retail businesses
  • Advise business owners regarding 280E phantom income
  • Integrate Seed-to-Sale Tracking in cannabis regulatory compliance and taxation
  • Minimize state tax issues before they become a problem
  • Apply the core principals of Inventory Accounting (Section 471) to minimize Section 280E
  • Understand cash reporting requirements for cannabis businesses and banks


For more information or to register for this course, head to: CLI Legalized Cannabis.

Additionally, attendees can register for your course and receive a 35% discount by using the promo code: niri35