Join us for the first installment of NCIA’s #IndustryEssentials multi-part webinar series, “Schedule III & Section 280E: What Does It Mean for Me?” This timely session, led by our Banking & Financial Services Committee, will delve into the transformative implications of cannabis being rescheduled to a Schedule III drug and how this pivotal change will affect the application of Section 280E of the Internal Revenue Code.

Key topics will include:

• Regulatory and Legal Changes: Explore the implications of rescheduling cannabis on federal legality, state and local tax obligations, and the broader regulatory landscape.
• Tax Planning and Accounting Adjustments: Understand new deductible expenses, changes to tax bills and cash flows, and necessary updates to accounting records and charts of accounts.
• Implementation Timeline: Discuss when these changes are expected to take effect and how to prepare for different timelines (2023, 2024, or 2025).
• Financial and Strategic Planning: Discover strategies for utilizing excess cash flows, preparing for changes in interstate commerce, and assessing the new risk profile of the industry.
• Proactive Strategies: Learn actionable steps to create favorable outcomes for your company in this evolving regulatory environment.

This session is designed for cannabis business owners, financial professionals, legal advisors, and industry stakeholders who need to navigate the complexities of these regulatory changes. Engage with industry leaders through a comprehensive Q&A session to address your specific concerns and capitalize on new opportunities. regulatory landscape.

Rescheduling cannabis marks a monumental shift for our industry, offering potential relief from the stringent tax burdens imposed by 280E. This multi-part series, led by experts from our 14 member-led Committees, will provide a comprehensive analysis of the immediate and long-term impacts on different sectors within the cannabis industry.

Panelists:

Naomi Granger
Founder
National Association of Cannabis Accounting and Tax Professionals (NACAT Pros)

Eric Kaufman
Chief Operating Officer
FundCanna

Neil Rosenfield
Partner
Baker Tilly