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Tax Issues Surrounding Cannabis Legalization

July 9, 2019

Even though legislation to legalize adult-use cannabis in New Jersey has stalled, there is still a vital tax issue that needs to be resolved. It is crucial that the state decouples from the federal law governing cannabis — Internal Revenue Code 280(E) — so that cannabis business owners will be able to deduct ordinary and necessary expenses in the same manner as their non-cannabis counterparts.

Jeffrey  Kaszerman

Jeffrey Kaszerman

Jeff Kaszerman is the vice president of government relations for New Jersey Society of CPAs. He works with the CEO and board of trustees to create and implement advocacy initiatives that protect and promote the interests of the CPA profession, the business community and the public.

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Melissa A. Dardani

Melissa A. Dardani

Melissa Dardani, CPA, is the leader of the NJCPA Cannabis Interest Group, a member of the Student Loan Debt Task Force and a member of the Emerging Leaders Council.

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