The 2019 Cannabis Industrial Marketplace Oklahoma Summit and Expo, April 3-4 at the Central Park Hall in Tulsa, will feature some of the top industry professionals, researchers and brand representatives in a seminar format focused on education and optimization.
CCK Strategies offers innovative solutions for businesses and individuals, helping to maximize potential at every turn — especially while navigating through the tax landscape of a new business space, such as the cannabis industry.
The moment State Question 788 passed, Oklahoma entrepreneurial business owners were introduced to a brand new industry….tons of upside opportunity, but attached with complex tax and reporting ramifications. Virtually overnight, certain IRS Tax Code sections took on additional prominence and importance to Oklahoma cannabis business owners. It all starts with IRC 280E, expands to IRC 471, and from there goes to a whole other level of required reporting, compliance and exposure. The need for proactive strategy and competence, to navigate through the tax and reporting issues in a heavily controlled, regulated and federally illegal industry, is more important than ever. Additionally, the lack of banking opportunities makes logistical operations and internal controls even more important. Business owners must move toward developing strategic solutions for growth, cash flow, protection and tax liability exposure control.
In this session, Jeff goes beyond the overwhelming compliance of IRC 280E and IRC 471 to break down the most important tax and reporting issues that face Oklahoma cannabis business owners, including: Oklahoma entity structuring opportunities and options; Unity Bill analysis and impact; cash operations, internal controls and banking issues; monthly, annual and transactional reporting requirements; exposure points and considerations. Leave the session with an understanding of the issues and “lingo” you should hear from your tax advisor
Jeff Frable, CPA, will speak to event-goers from 4:45-5:45 p.m. April 3 in Seminar Room 1, explaining the intricate details of Oklahoma’s new tax frontier.
According to the Associated Press, “as of March 11, [Oklahoma] state regulators have approved licenses for 1,109 dispensaries, 1,972 growers and 553 processors. In addition, 63,647 patients have qualified to receive MMJ products.”
Save 25% on tickets for the B2B Oklahoma Cannabis Industry Summit and Expo. With medical cannabis now booming in Oklahoma, take the time to join thousands of industry professionals in Tulsa to learn about the expanding and profitable opportunities in this region’s fast-expanding market.
This article was first published on https://www.cannabisimp.com.