CAN2416. Partnership Tax in Cannabis

This panel discussion will cover a wide range of partnership tax issues relevant to the cannabis industry including the pros and cons of partnerships versus C corporations; the intricacies of operating agreements; the complexities of partner allocations and capital account maintenance; and the potential tax implications of converting from a partnership to a C corporation. The discussion will also delve into the nuances of 280E expense deductions, the impact of recent tax law changes, and strategies for navigating the unique challenges of cannabis taxation. Attendees will gain valuable insights and practical guidance to help them effectively advise their cannabis clients on partnership tax matters.

Learning Objectives:

• Identify the key tax considerations when choosing between a partnership and a C corporation structure for a cannabis business.
• Analyze the potential tax implications of converting a cannabis business from a partnership to a C corporation.