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Join us for an insightful session on Tax Mitigation Strategies for Cannabis Businesses.

The continued application of IRC 280E to state legal cannabis businesses has been extremely costly and, in some instances, has driven otherwise profitable operations out of business. With rescheduling on the horizon, it's an opportune time to reevaluate tax planning and explore mitigation opportunities available to businesses in this unique industry.

In 2022, according to the Green Market Report, ten publicly traded multistate cannabis companies owed the Internal Revenue Service over half a billion dollars in federal tax debts. For that same year, Whitney Economics reported that under IRC 280E, state-legal cannabis companies had paid more than $1.8 billion in excess taxes. It is not surprising that cannabis companies have been heavily focused on strategies to mitigate their tax liability.

In this presentation, our panelists will explore a range of strategies, including tax-efficient structuring, federal, state, and local credits and incentives, how to navigate uncertain tax positions, and Employee Stock Ownership Plans (ESOPs). These methods, many previously considered unavailable or exclusively used by non-cannabis companies, can significantly reduce your tax exposure.

This webinar is designed for the owners of cannabis businesses who are interested in mitigating tax liability and preparing their business to navigate their tax exposure in a post re-scheduling world.

Meet Our Speakers:

• Hannah King, Partner, Dentons: A cannabis lawyer and leading authority on the highly regulated and complicated cannabis industry.
• Mark Loyd, Partner, Dentons: A tax lawyer and Co-leader of the national Tax practice at Dentons.
• Darren Gleeman, Managing Partner, MBO Ventures: An ESOP advisor, investment banker and prolific angel investor.
• Barbara Webb, CPA, Tax Partner, MGO: Co-founder of MGO Chicago office and the leader of MGO’s national cannabis tax practice.

If you have any questions, please feel free to reach out to marnie.grumbach@dentons.com.