Cannabis Conference to Discuss Operational, Tax and Legal Issues
— Co-Sponsored by New Jersey, New York and Pennsylvania State CPA Societies —
To meet the burgeoning interest in the adult-use cannabis market as more states legalize the use of, and decriminalization of, recreational marijuana, the New Jersey Society of CPAs (NJCPA), the New York State Society of CPAs (NYSSCPA) and the Pennsylvania Institute of CPAs (PICPA) are co-sponsoring a virtual Cannabis Conference on Aug 5. Designed for CPAs and other professionals who are serving businesses in the legal cannabis industry, the conference will feature discussions on how to navigate Internal Revenue Code Section 280E (which does not allow businesses that sell cannabis to deduct business expenses or take credits related to operations) and how to succeed amid banking and finance, supply chain and point-of-sale challenges.
The full-day conference will include three breakout sessions that will feature updates on topics specific to New Jersey, New York and Pennsylvania from CPAs, lawyers, lobbyists and town and municipal authorities. Attendees will hear what compliance steps are necessary for start-ups as well as more established cannabis businesses, and how the cannabis industry can benefit from using cryptocurrencies. It will include ample time for Q&A throughout the day.
“The conference is designed to help bring solutions to the many challenges businesses have in operating in the cannabis market and discuss what CPAs and other professionals can bring to the table to assist. The recreational cannabis market is poised for significant growth, and it’s important for those involved to know the facts and how to operate successfully,” said Melissa A. Dardani, CPA, MAcc, founder of MD Advisory, Leader of the NJCPA Cannabis Interest Group and a moderator at the conference.
“CPAs and other professionals have a lot to offer the business community when it comes to the cannabis market. Forums like this are extremely important so all facets of operating a business are discussed,” added Ralph Albert Thomas, CPA (DC), CGMA, CEO and executive director at the NJCPA.
More information about the conference can be found at njcpa.org/cannabis. A reduced early bird registration fee is available through July 19.