States are legalizing cannabis, or marijuana, while cannabis remains illegal under federal law. Wolters Kluwer has put all the state and federal tax laws in one place to ensure you know which laws apply to your clients.
Wolters Kluwer offers a new book, Cannabis Taxation: Federal and State Tax Guidebook, that covers the federal and state taxation of cannabis or marijuana and related products.
States have enacted laws that legalize, regulate and tax marijuana farming, manufacturing and distribution, as well as the prescription and retail sale of marijuana. In contrast, the federal government and other states continue to treat marijuana as an illegal narcotic. Between the growth of disparate and complex sets of laws governing cannabis, and the growth of legal cannabis agriculture, product manufacturing and sales, it’s more important than ever for tax and accounting professionals to be able to properly advise clients.
This guidebook will give you an overview of federal tax policies related to cannabis, specifically Code Sec. 280E and the interplay between Code Sec. 280E and other code sections. In addition, it provides you with a comprehensive survey of how each state taxes cannabis or marijuana, as well as manufacturers, distributors and retailers of cannabis or marijuana.
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